ISDA Americas Credit Derivatives Determinations Committee: Sabine Oil & Gas 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 Sabine Oil & Gas Corporation (formerly known as Forest Oil Corporation).

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.