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DC rejects Valaris credit event request
5 years ago
The Americas Determinations Committee has rejected a request to rule on whether UK headquartered offshore driller Valaris has triggered a restructuring credit event -
CLOs dodge offshore driller as restructuring credit event question posed
5 years ago
The Americas Determinations Committee has been asked to rule on whether UK headquartered offshore driller Valaris has triggered a restructuring credit event -
Intelsat CDS set for deemed auction today at 100% recovery
5 years ago
Intelsat Investments CDS will be settled today at 100% recovery through a deemed auction, the Determinations Committee has said -
Index equity tranches show resilience in face of default spike
5 years ago
Lower credit index volatility in May refocused investor minds on idiosyncratic risk, with some give-up by previously outperforming equity tranches -
Intelsat CDS has no deliverables for an auction, says DC
5 years ago
CDS contracts referencing Intelsat Investments look to have no deliverable obligations, according to the Americas Determinations Committee, making a pay-out to protection buyers unlikely -
Intelsat triggers bankruptcy credit event
5 years ago
Intelsat Investments has triggered a bankruptcy credit event, the Americas Determinations Committee has ruled -
Correlation rise stokes mezz rally but adds to CSO woes
5 years ago
Below the calm surface of the credit market, correlation has been churning and creating dislocations rich with reward for index tranche traders but complicating bespoke issuance, say sources. -
Rising idiosyncratic risk leads to calls for high yield index tranche fix from traders
5 years ago
As sources of funding dry up for the weakest borrowers in the credit market, some correlation traders are calling for an overhaul of CDX NA HY index tranches to make trades on wide-end dispersion more effective. -
Thomas Cook CDS auction sets initial midpoint at nine cents
5 years ago
An auction to settle CDS referencing Thomas Cook Group has derived an initial market midpoint of 9.125 cents, implying protection buyers will receive a pay-out on contracts in the region of 89 cents -
Galapagos failure-to-pay credit event posed to DC as bond grace period lapses
6 years ago
The Credit Derivatives Determinations Committee has accepted a request to rule on whether Galapagos Holding, a former iTraxx Crossover index constituent, has triggered a failure-to-pay credit event -
Steinhoff CDS auction in limbo due to lock-up and CVA
6 years ago
A date to settle CDS referencing Steinhoff Europe had still to be agreed as Creditflux went to press — more than a month on from when the EMEA Determinations Committee (DC) ruled that the company had triggered a failure-to-pay credit event. -
Strengthen CDS definitions to stop engineered defaults, say lawyers
7 years ago
The likelihood of stamping out manipulation in the credit default swaps market – namely the practice of staging credit events – is remote, say market sources
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