ISDA Americas Credit Derivatives Determinations Committee: Puerto Rico Electric Power Authority (PREPA) - 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 ofcredit derivative transactions that specify Puerto Rico Electric Power Authority as the reference entity and CUSIP 74526QKX9 as the reference obligation.

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.