Astaldi event proves a reminder of CDS intricacies

Credit market veterans are all too aware that the determination of CDS credit events is far from straightforward.

  • By GlobalCapital
  • 11 Oct 2018

Gavan Nolan, IHS Markit

This can be seen as a weakness of the product, but it is difficult to avoid given the irregularity of bond contracts and the smorgasbord of insolvency laws across different jurisdictions.

The case of Astaldi is a cogent example. A question was put to the ...

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