The International Swaps and Derivatives Association, Inc. (ISDA) today announced that LCDX dealers voted to hold an auction for loan-only CDS transactions referencing Boston Generating LLC, a subsidiary of US Power Generating Company. Boston Generating filed a Chapter 11 petition with the US Bankruptcy Court in Manhattan on August 18.
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.
