Abengoa credit event in balance as bankruptcy trigger dodged
Abengoa avoided triggering a bankruptcy credit event on Tuesday by only a single word change in legal documentation after ISDA spent more than a week boggling over Spanish laws and its own credit derivative definitions. But as GlobalCapital went to press, the firm looked to be on the brink of triggering a failure to pay credit event instead, having acknowledged it had missed commercial paper repayments. Dan Alderson reports.
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