Restructuring credit event

While there are a number of credit events, the Restructuring credit event is the most complex of the credit events. The 2014 ISDA Credit Derivative Definitions have sought to clarify this credit event which has been the source of dispute and uncertainty in the market. This guidance note explains when a restructuring credit event occurs and when it will not occur. It further considers physical settlement options following a restructuring credit event.

See Restructuring credit event.