Posts in category

Credit event


izzetugutmen/iStock via Getty Images This article focuses on the July 7 S&P Global Ratings notice that downgraded the issuer credit rating of Transocean Ltd. (NYSE: R.I.G.) to CCC-. The linked press release is not behind a paywall, but requires registration. S&P rings the alarm that RIG is likely to undertake a distressed debt swap or …

Darren415 The recent strength of the US dollar raises the possibility of a further shock to the economy beyond the recession, according to BofA Securities. The dollar index (US DOLLARS) -0.3% is up more than 7% since the start of the year and crossed parity with the euro (FXE) +0.8% as the Fed remains aggressive …

Reuters Tuesday 07 June 2022 08:26 LONDON, June 7 (Reuters) – A key group of bond market players will hold their next meeting on June 8 to discuss how Russia’s main default insurance policies, known as Credit Default Swaps, should pay out. The Credit Derivatives Determination Committee, …

A woman holds Russian ruble banknotes in this illustration taken May 30, 2022. REUTERS/Dado Ruvic/Illustration Join now for FREE unlimited access to Reuters.com Register NEW YORK/LONDON, June 1 (Reuters) – An investor panel determined on Wednesday that Russia triggered a credit event after it failed to pay nearly $1.9 million in interest on a sovereign …

A Russian one ruble coin is seen in this illustration taken April 5, 2022. REUTERS/Maxim Shemetov/Illustration Join now for FREE unlimited access to Reuters.com Register LONDON, May 26 (Reuters) – A credit derivatives committee will meet on Friday to determine whether a “credit event” occurred after Russia made payments on its sovereign debt but failed …

Posted: Sep 17, 2021 / 5:12 PM MDT / Update: Sep 17, 2021 / 5:12 PM MDT GRAND JUNCTION, Colorado – US Senator Michael Bennet traveled to Grand Junction to host a panel discussion on the Child Tax Credit. He listened to community concerns about the end of benefits and expressed his own concerns. Among …

Many sectors could be exposed to increased credit risk if Chinese property developer Evergrande defaults, according to Fitch Ratings. We believe a default would reinforce the credit polarization among home builders and could cause difficulties for some smaller banks, although we believe the overall impact on the banking sector would be manageable. Fitch demoted China …

Although credit default swaps (CDS) are essentially insurance policies against the default of a bond issuer, many investors have used these securities to rule on a particular credit event. The major bankruptcies of fall 2008 caught some investors in these contracts by surprise; after all, no major CDS event had occurred since Delphi in November …

What is a credit event? A credit event is a sudden, tangible (negative) change in a borrower’s ability to meet their payment obligations, which triggers a settlement under a credit default swap (CDS). A CDS is a credit derivative investment product with a contract between two parties. In a credit default swap, the buyer makes …

Posted on March 17, 2017 Looking back, Dr. DeLisle Worrell might have known what was going to happen and wanted to have his take on the matter. The last paragraphs of the bank’s short, blunt review of the performance of Barbados’ economy in 2016 ended with a recitation of a few principles from seemingly bland …

The ISDA Determination Committee met on Friday. The 15 participating members unanimously agreed that the recent debt swap of paper company Norske Skog qualifies for a restructuring credit event. The committee also agreed to hold a credit event auction to determine the settlement price of credit default swaps referencing Norske Skog. ISDA initially met at …

The continuing difficulties of applying credit default swaps have recently been highlighted by the experience of a failed Portuguese bank, Banco Espirito Santo (“BES”) and its successor “good bank” Novo Bank. Despite the fact that the 2014 ISDA Credit Derivative Definitions (the “Definitions”) included a new credit event for public bailouts, the ISDA Determination Committee …

Tony / Flickr Derivatives Intelligence (part of Institutional Investor) reports that the International Swaps and Derivatives Association has determined that Greece has triggered a credit event in connection with its debt restructuring. This would trigger the payment of credit default swaps – insurance contracts on Greek bonds issued under Greek law. But we don’t know …

Greek Prime Minister Lucas Papademos (L) talks to Finance Minister Evangelos Venizelos before a cabinet meeting at the parliament in Athens March 9, 2012. REUTERS/Yiorgos Karahalis NEW YORK (Reuters) – Greece has triggered the payment of default insurance contracts using legislation that imposes losses on all private creditors, the International Swaps and Derivatives Association said …

Newsletter: Europe Express Your essential guide to what matters in Europe today. Delivered every day of the week. The last of Finland theoretical agreement get cash collateral from him in Greece’s bailout – well, maybe Finland change the case after all. This is after other lenders complained about special treatment. (Some Darth Vader quote comes …

CHICAGO, February 22, 2011 / PRNewswire / – The Chicago Board Options Exchange (CBOE) announced today that the Tuesday March 8, the Exchange will begin trading in newly designed Credit Event Binary Options (CEBO) contracts. (Logo: http://photos.prnewswire.com/prnh/20100707/CBOOLOGO-a) Credit event binary options contracts allow investors to express an opinion that a company will experience a “credit …