Corporate default rates predicted to fall despite tariff uncertainty - S&P
Speculative-grade corporate default rates expected to fall on both sides of the Atlantic as trade tension uncertainty eases, but some concerns remain

Leveraged loan, HY defaults to pick up as tariff pause adds more uncertainty - Goldman
The bank expects macro challenges to continue despite the tariff pause  

Global corporate defaults on fastest pace since 2009 according to S&P
The number of corporate defaults has risen dramatically year-to-date, according to S&P Global Ratings, driven by a doubling of the rate of defaults in Europe

Fitch notches up US lev loan and HY 2023 default rate forecasts
Fitch Ratings has raised its US corporate institutional high yield bond default 2023 forecasts from 3%-3.5% to 4.5%-5%, and its leveraged loan default forecast from 2.5%-3% to 4%-4.5%

Ukraine auction looks set to avoid Russia-style bond squeeze
An auction to settle sovereign CDS contracts referencing Ukraine looks set to produce a final price much more in line with bond trading levels than the result earlier this month for Russian Federation contracts

Russia credit event auction starts to firm up as DC mulls settlement options
Russian Federation sovereign CDS will be settled in the first half of September, the Credit Derivatives Determinations Committee has said. But settlement restrictions still require further discussion

Ukraine triggers restructuring credit event
Ukraine has triggered a restructuring credit event, the Credit Derivatives Determinations Committee has ruled

Powerlong CDS contracts must be physically settled, says DC
As with other Chinese real estate defaults this year, holders of CDS protection on Powerlong Real Estate Holdings will have to physically settle contracts, after the Credit Derivatives Determinations Committee said no auction is needed

Chinese real estate hit for six as Powerlong triggers credit event
Powerlong Real Estate Holdings has triggered a credit event, the Credit Derivatives Determinations Committee has ruled – taking the stack of Chinese housing sector contract defaults to six since December

Ukraine posed as credit event after country defers debt
Ukraine has been posed to the Credit Derivatives Determinations Committee as a restructuring credit event, following the country’s agreement last week to defer debt payments

Russian Federation auction list features eight bonds
The lengthening endeavour to organise a Russian Federation credit event auction has taken another step forward, with the publication of a preliminary list of deliverable obligations

Powerlong joins rising pile of Chinese real estate casualties
Powerlong Real Estate Holdings is the subject of a failure-to-pay credit even question – a potential trigger that would build the pile of Chinese real estate debt defaults the Determinations Committee has considered since December to six, with five this year

Shimao credit event auction not needed, rules DC
Holders of CDS protection on Shimao Group Holdings will have to physically settle contracts

Chinese property industry suffers fourth credit event of year
Shimao Group Holdings has triggered a failure-to-pay credit event, making it the fourth Chinese property firm this year to do so

Fourth Chinese real estate firm posed as credit event
Shimao Group Holdings is the subject of a failure-to-pay credit event question, making it the fourth Chinese property firm this year to be referred to the Credit Derivatives Determinations Committee

Internet company triggers restructuring credit event at third time of asking
Yandex, the multinational internet and search engine company that predominantly serves Russian and Russian language users, has triggered a restructuring credit event

Russian credit event auction plans put on hold after US sanctions update
Settlement of Russian Federation sovereign CDS has hit a delay, with the US having published updated advice on sanctions that could jeopardise the ability to conduct a credit event auction

Talen bond squeeze brings low auction pay-out for protection holders
A credit event auction to settle Talen Energy Supply CDS has delivered a much higher result than had been predicted from bond prices, fuelled by a bidding squeeze on deliverable paper

Dealers gear up to settle first CDS auction of 2022
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

Talen Energy CDS deliverables list shortens on lack of docs
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
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
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

DC rejects Yandex credit event question
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
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
No credit event auction is required to settle CDS contracts referencing Sunac China Holdings, the Asia Ex-Japan Credit Derivatives Determinations Committee has ruled