ISDA Americas Credit Derivatives Determinations Committee: iHeart Communications, Inc. Failure To Pay Credit Event

The International Swaps and Derivatives Association, Inc. (ISDA) today announced that its Americas Credit Derivatives Determinations Committee resolved that a failure to pay credit event occurred in respect of iHeart Communications, Inc.

The Committee also resolved to hold an auction in respect of outstanding CDS transactions. ISDA will publish further information, including the timing of the auction, on its website, www.isda.org/credit, in due course.