The International Swaps and Derivatives Association, Inc. (ISDA) today announced that its EMEA Credit Derivatives Determinations Committee resolved that a Failure to Pay Credit Event has occurred in respect of Abengoa S.A.
The Committee also resolved to hold an auction in respect of outstanding CDS transactions incorporating the 2014 ISDA Credit Derivatives Definitions on a date to be determined in January 2016. ISDA will publish further information regarding the auction on its website, www.isda.org/credit, in due course.
