Restructuring as a credit event again under fire

watkinson-jpg
The restructuring of Stamford, Connecticut-based reprographics firm Xerox’s $7 billion revolving credit line in June by Bank One, Citibank and JP Morgan Chase, which triggered credit default swap contracts written on the company, has caused a number of major protection sellers to step back from the market until the debate over restructuring as a credit event is concluded.

Help may be on the way. The Bank for International Settlements, which is holding talks on the restructuring issue with ind

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 indvidual account here: