Latin American investors brace for continent's biggest default
OGX files for protection from creditors as company becomes largest Latin American corporate default

Codere CDS default benefited GSO Capital, claims Bloomberg
Codere's late coupon payment benefited senior lender, claims Bloomberg

Protection buyers call credit event after chip maker gets loan waiver
Investors have asked the determinations committee to rule on a credit event after Reneasa waives loans from its shareholders

Mid-market default rate could double, warns Credit Suisse
Credit Suisse research warns that the proportion of companies losing money suggests a much higher default rate 

Translating insolvency from Chinese
China can pass on to the west some valuable lessons about insolvency rules and how they apply to derivatives, and to company debt in general

Second housebuilder defaults as Mexicans desert the suburbs
Homex looks to have become the second large Mexican housebuilder in just over two months to default

Isda set to rule on Cengage bankruptcy after deal with loan holders
Isda’s credit derivatives determinations committee will consider whether Cengage Learning has triggered a credit event

Coop’s upper tier two perps plunge on bail-in news
Cooperative Bank’s most senior class of capital securities has plunged in value

Bond holders face low recoveries as Detroit misses interest payment
The emergency manager for Detroit has proposed a deal under which bond holders will receive less than 10 cents in the dollar

Coop Bank unveils plan to bail in all junior debt
Cooperative Bank says it plans to convert £1.3 billion ($2 billion) of junior debt into a combination of equity and new debt

Exide files for bankruptcy after plant shutdown
US battery maker Exide Technologies files for chapter 11 bankruptcy after regulators close plant 

Large dealer axe pushes down CDS recovery for Mexican builder
Auction for cash settlement of Urbi Desarrollos debt brings lowest recovery rates since June 2012 

CDS auction sets high recoveries on Bankia debt
Auction sets high prices on CDS relating to Spanich bank Bankia's CDS

Two thirds of CCC or lower rated debt is trading above par says Fitch
Fitch says low default rate may mask credit deterioration

Isda committee rules on Mexican construction company
Isda has ruled that a credit event has occurred in relation to Urbi Desarrollos Urbanos

2007 US CLO hits EoD on its redemption date
When equity investors in Integral Funding, a 2007 CLO, pushed the call button on the deal they probably envisaged the procedure to be straightforward and above all, uneventful. That was not to be.

Spanish bank triggers credit event, rules committee
Isda’s credit derivatives determinations committee has ruled that a restructuring credit event has taken place on Bankia

ISDA committee set to rule on Bankia sub debt swap
ISDA accepts question of whether debt swap offered to subordinated and hybrid Bankia note holders constitutes default. 

Auctions set price for yellow pages loans
Dealers have determined the final credit default swap pay-out on SuperMedia and Dex Media West loans

Low recoveries expected following yellow pages defaults
Isda’s credit derivatives determinations committee is set to consider whether Dex One and Supermedia have triggered credit events

Isda sets date for SNS credit event auction
Isda’s determinations committee has set a date of 4 April to hold an auction to cash-settle credit default swaps on SNS Reaal