"bzr version-info --all" crashes in Emacs repository

Invoking "bzr version-info --all" in the Emacs repository causes the following crash:

D:\gnu\bzr\emacs\test>bzr version-info --all
bzr: ERROR: exceptions.UnicodeDecodeError: 'ascii' codec can't decode byte 0xef
in position 3391916: ordinal not in range(128)

Traceback (most recent call last):
  File "bzrlib\commands.pyo", line 853, in exception_to_return_code
  File "bzrlib\commands.pyo", line 1055, in run_bzr
  File "bzrlib\commands.pyo", line 661, in run_argv_aliases
  File "bzrlib\commands.pyo", line 665, in run_direct
  File "bzrlib\cleanup.pyo", line 122, in run_simple
  File "bzrlib\cleanup.pyo", line 156, in _do_with_cleanups
  File "bzrlib\cmd_version_info.pyo", line 119, in run
  File "bzrlib\version_info_formats\format_rio.pyo", line 80, in generate
  File "bzrlib\rio.pyo", line 49, in write_stanza
  File "bzrlib\rio.pyo", line 215, in write
  File "bzrlib\ui\text.pyo", line 508, in writelines
  File "codecs.pyo", line 311, in writelines
  File "codecs.pyo", line 303, in write
  File "encodings\cp1252.pyo", line 12, in encode
UnicodeDecodeError: 'ascii' codec can't decode byte 0xef in position 3391916: or
dinal not in range(128)

bzr 2.1.1 on python 2.5.4 (Windows-XP-5.1.2600-SP2)
arguments: ['bzr', 'version-info', '--all']
encoding: 'cp1255', fsenc: 'mbcs', lang: None
plugins:
  bisect D:\usr\Bazaar\plugins\bisect [1.1.0.pre.0]
  bzrtools D:\usr\Bazaar\plugins\bzrtools [2.1.0]
  diffstat D:\usr\Bazaar\plugins\diffstat [0.2.0]
  grep D:\usr\Bazaar\plugins\grep [0.5.0dev]
  launchpad D:\usr\Bazaar\plugins\launchpad [2.1.1]
  netrc_credential_store D:\usr\Bazaar\plugins\netrc_credential_store [2.1.1]
  news_merge D:\usr\Bazaar\plugins\news_merge [2.1.1]
  rebase D:\usr\Bazaar\plugins\rebase [0.5.5]
  search D:\usr\Bazaar\plugins\search [1.7.0dev]
  svn D:\usr\Bazaar\plugins\svn [1.0.2]
  upload D:\usr\Bazaar\plugins\upload [1.0.0dev]
  xmloutput D:\usr\Bazaar\plugins\xmloutput [0.8.7.dev]

*** Bazaar has encountered an internal error. This probably indicates a
    bug in Bazaar. You can help us fix it by filing a bug report at
        https://bugs.launchpad.net/bzr/+filebug
    including this traceback and a description of the problem.

Invoking "bzr version-info" without the --all switch does work.