Credit risk

Introduction

You'd think that credit derivatives dealers and their clients would have their documentation down pat. Most do, but others, including some newcomers, have had to hit the books to reacquaint themselves with the nuances of the International Swaps and Derivatives Association's credit derivatives definitions. At the very least, market participants may have looked up 'succession event' in their credit derivatives glossary and committed the definition to memory.

Corporate activity - mergers and