ISDA Americas Credit Derivatives Determinations Committee: Pacific Exploration & Production Corporation 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 Pacific Exploration & Production Corporation (formerly known as Pacific Rubiales Energy Corporation).

ISDA will publish further information, including whether a CDS auction will be held, on its website, www.isda.org/credit, in due course.