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 Urbi Desarrollos Urbanos, S.A.B. de C.V.
The Committee determined that an auction will be held in respect of outstanding CDS transactions. ISDA will publish further information regarding the auction on its website, www.isda.org/credit, in due course.
