The International Swaps and Derivatives Association, Inc. (ISDA) today announced that an External Review Panel of the Americas Determinations Committee resolved that a Restructuring Credit Event occurred in respect of Cemex S.A.B. de C.V., a Mexico-based holding company of entities whose main activities are in the construction industry.
ISDA’s Americas Determinations Committee will vote as to whether an auction will be held in respect of outstanding CDS transactions.
ISDA will publish updates on its website, www.isda.org/credit in due course.
