Thursday, January 19, 2012

ISDA Finds An Event Of Default At Eastman Kodak, Whose Bonds Are Trading 27% Higher Than Greece

ISDA, in which the I stands for Irrelevant or other even less flattering adjectives, has just released the following press release:






NEW YORK, January 19, 2012 – The International Swaps and Derivatives Association, Inc. (ISDA) today announced that its Americas Credit Derivatives Determinations Committee resolved that a Bankruptcy Credit Event occurred in respect of Eastman Kodak Company.

The Committee determined that an auction will be held in respect of outstanding CDS

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