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DC explains Russian credit event ruling - but not sole member opposition
1 year ago
Factors backing Russian Federation’s credit event trigger have been outlined by the Credit Derivatives Determinations Committee, but without giving any explanation for Citi’s decision to vote against the decision -
Dealers gear up to settle first CDS auction of 2022
1 year ago
A credit event auction this week to settle Talen Energy Supply CDS will have 13 deliverable obligations, with the Credit Derivatives Determinations Committee having published its final list -
Russia triggers failure-to-pay credit event
1 year ago
The Russian Federation has triggered a failure-to-pay credit event on sovereign bonds, the Credit Derivatives Determinations Committee has ruled – marking an historic moment that caps off a long run of deliberations on the country’s international debt since it invaded Ukraine on 24 February -
Talen Energy CDS deliverables list shortens on lack of docs
1 year ago
A credit event auction next week to settle Talen Energy Supply CDS could have fewer deliverable obligations than previously indicated, with three from the preliminary list not having made it onto the Determinations Committee’s initial list -
Dealer list builds for year's first credit event auction
1 year ago
A credit event auction next week to settle Talen Energy Supply CDS contracts looks set to have 10 participating dealers, with two banks having been added to the regular list -
Talen credit event auction deliverables point to 47 cent recovery
1 year ago
Talen Energy Supply’s credit event auction looks set to have 16 bonds deliverable, including senior unsecured notes that are priced much lower than its senior secured, according to a preliminary list published by the Americas Determinations Committee -
Russia default claims resurface to shorten timeline to possible credit event
1 year ago
Russia is back in the spotlight amid renewed sovereign debt default claims, with the Credit Derivatives Determinations Committee asked once again to rule whether the country has triggered a failure-to-pay credit event -
DC rejects Yandex credit event question
1 year ago
Yandex will not be weighed as a credit event, with the Credit Derivative Determinations Committee having rejected the query it received on the matter -
Yandex posed to DC as restructuring credit event
1 year ago
Yandex, the multinational internet and search engine company that serves Russian language users, has been posed to the Credit Derviative Determinations Committee as a restructuring credit event -
Sunac CDS must be physically settled, says DC
1 year ago
No credit event auction is required to settle CDS contracts referencing Sunac China Holdings, the Asia Ex-Japan Credit Derivatives Determinations Committee has ruled -
CLO managers in the mix for first US credit event auction since 2020
1 year ago
CDS contracts referencing Talen Energy Supply will be settled by credit event auction next month. And Talen's recovery levels will have relevance for a number of CLO managers that have held onto the company's debt - in some cases having bought more very recently -
Talen triggers first index-hitting credit event since Europcar
1 year ago
Talen Energy Supply has triggered a bankruptcy credit event, the Americas Credit Derivatives Determinations Committee has ruled, making this the first default to hit US high yield index CDX HY since September 2020 and the first to hit a CDS index since January last year -
CDX HY faces first constituent default since 2020
1 year ago
The Americas Credit Derivatives Determinations Committee has accepted a request to rule on a CDX HY index constituent default - the first it has faced in the US since mid-2020 -
China builds wall of defaults as third real estate co triggers
1 year ago
Sunac China Holdings has become the third Chinese property company this year to trigger a failure-to-pay credit event -
Russia auction prep on pause after last minute scramble
1 year ago
The Credit Derivatives Determinations Committee has put on pause its preparation for a credit event auction to settle Russian Federation CDS, amid reports the country has made good on sovereign debt payments right at the wire -
German real estate co volatility spikes after auditor refuses earnings sign off
1 year ago
Adler Group has hit new levels of volatility in financial markets after auditor KPMG refused to certify the company's full-year 2021 results and board members offered their resignations -
Russia looks to avoid default as deliverable list points to 27-cent recovery
1 year ago
The Credit Derivatives Determinations Committee has published a preliminary list of bonds it deems deliverable into Russian Federation CDS contracts, even though reports suggest Russia may have avoided default with just one day left on the country's grace period for overdue international bond payments -
German real estate co troubles mount on short-seller response and earnings no-show
2 years ago
Friday is proving a bad day to end a bad week in a bad year for Germany's Adler Group, with debt risk measures hitting new levels as short-seller Viceroy responds to the firm's recent investigation by KPMG and the market rumour mill goes up a gear -
Domino effect as third Chinese property credit event question topples onto DC's pile
2 years ago
Sunac China Holdings has become the third Chinese property company in as many months to be proposed to the Credit Derivatives Determinations Committee as a potential credit event -
Prep work begins for Russia credit event auction
2 years ago
The Credit Derivatives Determinations Committee has started preparing for a credit event auction to settle CDS referencing the Russian Federation, which stands on the brink of triggering sovereign contracts -
Potential failure to pay has occurred on Russian CDS, says Determinations Committee
2 years ago
The Russian Federation is moving closer to triggering a credit event on foreign debt, with the Credit Derivatives Determinations Committee having ruled a potential failure to pay has occurred -
RusRail no-auction vote means CDS holders must track down bonds
2 years ago
Russian Railways CDS contracts will not be settled via auction despite the borrower having triggered a failure-to-pay credit event, the Credit Derivatives Determinations Committee has ruled -
DC meets to consider next steps on Russia and RusRail CDS
2 years ago
The Emea Determinations Committee is meeting today, having accepted a request to rule on whether a potential failure to pay has occurred on Russian Federation CDS contracts -
Russian sovereign posed to DC as 'potential failure to pay'
2 years ago
The Russian Federation has again been referred to the Credit Derivatives Determinations Committee for the second time in a month, this time with the questioner asking if a potential failure to pay has occurred -
Sovereign in scope as Russian Railways triggers first Ukraine-linked credit event
2 years ago
Russian Railways had triggered a failure-to-pay credit event, the Credit Derivatives Determinations Committee has ruled, making this the first sanctions-related credit event since Russia's invasion of Ukraine in February
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