SoftBank Group's share rally ends, bonds fall after Moody's downgrade
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TOKYO (Reuters) - SoftBank Group (SBG) Corp's shares plunged after three days of huge gains and the cost of credit derivatives to insure against bankruptcy rose on Thursday after Moody's downgraded the tech conglomerate's debt rating by two notches.SBG shares fell 9.4% following a 55% rise over the preceding three sessions as the firm became the first high-profile Japanese victim of a wave of corporate downgrades worldwide amid the coronavirus pandemic.Its five-year credit default swap spread..