Hema credit event question posits second Crossover default this month
Hema, the Dutch retailer, has been posed as a failure to pay credit event to the Determinations Committee, raising the possibility of a second default in the on-the-run iTraxx Crossover index

Matalan credit event ruling draws heavily on precedents, says DC
A bankruptcy credit event ruling on Matalan - the first this year in a European index - was a close call and relied heavily on several precedent credit events, the EMEA Determinations Committee has said

Nine bonds make list to settle Noble, positing 98-cent CDS pay out
Nine bonds are on an initial list of deliverable obligations to settle at auction CDS referencing Noble Corporation, the latest CDX HY index constituent to trigger a bankruptcy credit event

Matalan becomes first Crossover index default in over year
Matalan, the UK based retailer, is the first default to hit the on-the-run series of Europe's iTraxx Crossover index, with the Determinations Committee ruling it has triggered a bankruptcy credit event

Noble Corp auction date set as low recoveries stack up
The Americas Determinations Committee has set a date to settle CDS referencing the offshore driller, which looks set to follow Chesapeake Energy as the latest in a run of big pay outs for protection buyers

Distressed to the nines: Noble joins CDX HY default tally
Noble Corporation, a US offshore drilling company, has triggered a bankruptcy credit event, the Americas Determinations Committee has ruled - making it the ninth default in the on-the-run CDX HY index

Wirecard CDS settles above single digits
Wirecard CDS just about bucked the recent trend of defaulting credits settling in single digits at auction

Seven dealers sign up for Wirecard CDS auction
An auction tomorrow to settle Wirecard CDS will have just seven participating dealers - three fewer than has been customary in other recent credit event settlements

DC sets Wirecard CDS auction date, obligations and settlement terms
The Determinations Committee for Europe, Middle East and Africa has set a date to settle CDS contracts referencing German digital payments company Wirecard

Chesapeake auction delayed over convertibles question
A credit event auction to settle Chesapeake Energy Corporation CDS has been postponed for at least two weeks while the Determinations Committee seeks clarity on status of the company's convertible bonds

Chesapeake auction could face delay over convertible conundrum
A credit event auction next week to settle Chesapeake Energy Corporation CDS could be postponed as uncertainty hangs over the status of the company's convertible bonds

Wirecard splits DC on auction vote
Wirecard has caused a split at the Determinations Committee, whose members only narrowly reached a supermajority vote to hold a credit even auction for the German digital payments company

Chesapeake deliverables point to big pay-out on CDS
An initial list of deliverable obligations to settle CDS referencing Chesapeake Energy Corporation at auction points to a pay-out of over 97 cents to protection buyers - higher than where five-year contracts are priced

Chesapeake CDS auction date set
Dealers have set a date to settle Chesapeake Energy Corp CDS, in what will be the thirteenth credit event auction of 2020

California Res auction brings 99 cent problem for CDS protection sellers
An auction to settle CDS referencing California Resources Corp has settled at just 1.125 cents, meaning a 98.875 cents pay-out to protection buyers

Wirecard triggers first European CDS credit event of 2020
Wirecard has triggered a bankruptcy credit event, the Determinations Committee has ruled, making it the first European CDS name of 2020 to require settlement at auction

DC agrees to rule on Wirecard, putting Europe's first 2020 CDS auction in sight
The European CDS market is moving closer to facing its first CDS auction of the year, with the Determinations Committee agreeing to rule on whether the German digital payments firm has triggered a bankruptcy credit event

Chesapeake default takes CDS auctions to eight-year high
Chesapeake Energy has been confirmed as the latest CDX HY index constituent to require settlement at auction, after the Americas Determinations Committee ruled it has triggered a bankruptcy credit event

California Res deliverables list points to 98 cents CDS pay-out
Three bonds have made it onto the final list of obligations to settle CDS referencing California Resources Corp, which triggered a failure-to-pay credit event earlier this month

Chesapeake bankruptcy points to hit for CDS and loan holders
Chesapeake Energy looks set to become the latest in a string of defaults to hit US high yield index CDX HY, after the Oklahoma City headquartered shale producer filed for chapter 11 protection

Ouch it Hertz! CDS auction result hits index and protection sellers
Hertz Corporation CDS has been settled at auction at 26.375 cents, much lower than protection sellers might have hoped for only last week. But the final price was slightly better than initial bidding signalled

Pimco stands alone in Hertz CDS tussle as recovery hopes fall
The Americas Determinations Committee has resolved a challenge on Hertz Corp deliverable obligations in time for tomorrow's credit event auction. But it was not a unanimous decision, with Pimco voting against other members

DC rejects Valaris credit event request
The Americas Determinations Committee has rejected a request to rule on whether UK headquartered offshore driller Valaris has triggered a restructuring credit event

DC sets tight deadline to resolve Hertz challenge
The Americas Determinations Committtee has set a deadline of 5pm New York time tomorrow to resolve a challenge to obligations for next week's Hertz Corp CDS auction

JC Penney CDS pays near 100% to protection buyers
JC Penney CDS has settled at auction close to zero, lower even than the paltry recoveries indicated beforehand