The International Swaps and Derivatives Association, Inc. (ISDA) today announced that its Japan Credit Derivatives Determinations Committee resolved that a Restructuring Credit Event occurred in respect of AIFUL Corporation, a Japan-based financial service provider. The Committee also voted to hold an auction for AIFUL.
ISDA will facilitate the process by publishing the auction terms on its website www.isda.org/credit, in due course. The auction will be administered by Markit and Creditex.
