CDS dealers surprised by announcement of Ambac credit event

The decision by the International Swaps and Derivatives Association (Isda) to declare a default at monoline insurer Ambac Assurance Corporation (AAC) last Friday has surprised credit derivatives dealers. The dealers questioned the rationale for defining an apparent restructuring as a bankruptcy.

On March 26, Isda's Americas credit derivatives determinations committee resolved a bankruptcy credit event had occurred at AAC, the principal operating subsidiary of New York-based holding company Ambac

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: