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Kaye Wiggins in London The US hospital staffing company Envision Healthcare, owned by the private equity firm KKR, has the lowest possible junk-grade credit rating and is at risk of bankruptcy, according to Moody’s. But an ownership stake in Envision, bundled with stakes in hundreds of other private equity-owned companies, has been transformed into a financial security marketed to ordinary savers as a safe investment with a stellar credit rating. The product is known as a “collateralised fund obligation” and its aim...