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

Hertz CDS widens sharply ahead of auction with DC challenge unresolved
The Americas Determinations Committee has extended its deadline to resolve a challenge to obligations for next week's Hertz Corp CDS auction

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

Hertz Corp CDS auction faces delay amid deliverables challenge
The Americas Determinations Committtee has received a challenge to obligations submitted for use in an approaching auction to settle Hertz Corp CDS

California Resources auction set as CLOs hold loans and recoveries look low
The Americas Determinations Committee has set a date to resolve CDS referencing California Resources Corp, which has triggered a failure-to-pay credit event

Tale of two defaults as JC Penney and Hertz recoveries diverge
A credit event auction to settle JC Penney will take place today, with the pay-out to CDS protection buyers looking likely to be the highest for over a year - a tall order given the paltry recoveries of recent US high yield defaults

Intelsat CDS set for deemed auction today at 100% recovery
Intelsat Investments CDS will be settled today at 100% recovery through a deemed auction, the Determinations Committee has said

PGIM prepares listed credit fund
PGIM is marketing a ‘flexible’ listed fund, dubbed PGIM Strategic Credit Fund , to invest at least 80% across fixed income

Fund performance: CLO tranches move up
April returns managed a partial bounce back after a tumultuous March. 82% of funds listed in the Creditflux database made positive returns, showing at least small signs of recovery after 90% of all funds listed posted negative returns in March

Credit funds at a glance (June 2020)
A round-up of fundraising and people moves

Ucits at a glance: Ucits begin recovery phase
April returns prove positive for Ucits funds as 85% of those listed in the Creditflux database have moved into the black after a rough March

Intelsat CDS has no deliverables for an auction, says DC
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

JC Penney becomes seventh bankruptcy credit event to hit index tranches
JC Penney has triggered a bankruptcy credit event, the Americas Determinations Committee has ruled

RBC makes it three CDS auctions in a row after debuting this month
Morgan Stanley and Royal Bank of Canada have been added to the list of participating bidders this week for credit event auctions to settle CDS referencing Ecuador and Diamond Offshore Drilling

JC Penney bankruptcy weighs on CLO and CDX HY baskets
CLO managers hold nearly $250 million of the debt of JC Penney, which filed for chapter 11 protection in the US Bankruptcy Court for the Southern District of Texas on Friday

Intelsat triggers bankruptcy credit event
Intelsat Investments has triggered a bankruptcy credit event, the Americas Determinations Committee has ruled

DC agrees to consider Intelsat bankruptcy credit event
The Americas Determinations Committee has accepted a request to rule on whether Intelsat Investments has triggered a bankruptcy credit event, after parent company Intelsat SA filed for Chapter 11 protection

Frontier CDS auction pays less than bonds had indicated
A credit event auction to settle Frontier Communications CDS produced a slightly better result than expected for protection sellers

Diamond deliverables point to 89 cents pay-out on CDS
An auction to settle CDS referencing Diamond Offshore Drilling looks set to have four deliverable obligations, all of which are quoted around 11 cents

DC sets Neiman Marcus CDS auction date
A credit event auction to settle Neiman Marcus CDS will be the fifth taking place this month

Frontier CDS to be settled today with RBC joining bidders
Frontier Communications CDS will be settled today in a credit event auction, with 10 dealers participating

Morgan Stanley joins bidders for Frontier CDS auction
Morgan Stanley has been added to the list of participating bidders for a credit event auction this week to settle Frontier Communications CDS

CLOs on lookout as Neiman recovery signals slump and DC confirms credit event
Five-year CDS referencing Neiman Marcus widened by four points to 95.25 points up front, according to IHS Markit, as the Americas Determinations Committee confirmed the US retailer has triggered a bankruptcy credit event

US retailer bankruptcy spells hit for CLOs and CDX HY tranches
US retailer Neiman Marcus's filing for chapter 11 protection opens the prospect of a fourth credit event in the CDX HY index and a sixth for on-the-run HY tranches, as well as a hit for CLOs

CDX HY and tranches hit as Whiting protection buyers win big pay-out
Whiting Petroleum CDS have settled at a final price of just seven cents, meaning a 93 cents pay-out to buyers of protection on the Denver headquartered exploration firm