What is the difference between swap spread and credit spread for a company?

I have knowledge of what it is, but could someone give a practical example. E.g. if a company has a credit spread of 3% over LIBOR, how could a swap spread compare to such a figure?

swap spread is the difference between the fixed leg of swap and the a T-bond of the same maturity. It measure the riskiness of the swap .

credit spread is the spread when the company borrows money, it measure the riskiness of the company.

One and another is a measure of credit risk of Companies. Swap spread is popular mostly in Europe. Swap spread is spread between SWAP fixed leg as Victoryeo said and T-Bond of same maturity but it is also a measure of credit risk of companies through SWAPS in which are Companies involved.

Swap Spreads are the new cool thing to do now.

So the credit spread is the spread when the company borrows money and measures the riskiness of the company. But how could you compare directly a credit spread and a swap spread? E.g. if a company has a credit spread of 3% over LIBOR, would it be reasonable that the swap spread would be in the same range or how could you compare these two?

I guess the more risky the company, the higher the swap spread, but more exactly how would they relate to each other?

you would expect the swap spread (the rate at which someone (bank) lends you money) to converge to your credit spread over time.

both are a measure of credit risk of the firm. and the swap spread is increasing in significance because it allows you to compare fixed and floating borrowing in similar terms.