ISDA rules Puerto Rico credit event occurred

摘要

The International Swaps and Derivatives Association said a failure to pay credit event occurred in respect to Puerto rico missing bond payments of more than US$900m earlier this month. ISDA said the judgment by its Americas Credit Derivatives Determinations Committee was unanimous with 15 votes to zero. ISDA will publish additional information on the Puerto Rico credit event, including whether a credit default swaps auction will be held, in due course. The date of the credit event was July 8.