The International Swaps and Derivatives Association, Inc. (ISDA) today announced that its EMEA Credit Derivatives Determinations Committee resolved that a bankruptcy credit event occurred in respect of ABB International Finance Limited.
Since there are no Deliverable Obligations, the Committee is unable to publish any Auction Settlement Terms for this event and as such, no Auction will be held in respect of outstanding CDS transactions. Further information regarding this credit event is available on ISDA’s website, www.isda.org/credit.
