Quebecor credit auction settles outstanding CDS

Markit and Creditex have conducted a credit event auction for contracts referencing Quebecor World. The auction generated a cash settlement price of 41.25% for Quebecor contracts in a process administered by Creditex and Markit in partnership with 13 credit derivatives dealers.

Quebecor, a Canadian commercial printer, missed a January 15 interest payment on its senior notes and filed for protection from creditors on January 21. The filing triggered a credit event on CDS contracts referencing the

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