Economy/Business News Alert: ISDA panel: Greek restructuring agreement is not yet a credit event

Thursday, March 1, 2012

   
The Washington PostThursday, March 1, 2012 8:15:26 AM
ECONOMY/BUSINESS NEWS ALERT

ISDA panel: Greek restructuring agreement is not yet a credit event


A panel convened by a securities dealers' association has ruled that the restructuring of Greece's government debt is not yet a credit event.

If the panel had ruled that a credit event had occurred, bondholders who hold credit-default swaps — complex financial products that act as insurance against default — would have been paid off.


Read more at:
http://www.washingtonpost.com/business/markets/dealers-panel-says-greek-restructuring-agreement-is-not-yet-a-credit-event/2012/03/01/gIQAlOgGkR_story.html



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