ISDA Credit Derivatives Determinations Committee: OGX Petroleo e Gas Participacoes S.A. Bankruptcy Credit Event

The International Swaps and Derivatives Association, Inc. (ISDA) today announced that its Americas Credit Derivatives Determinations Committee resolved that a Bankruptcy Credit Event occurred in respect of OGX Petroleo e Gas Participacoes S.A.

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