Vue CDS triggered, but payout showtime still in doubt
Lack of public debt information raises more questions about credit event determinations
The reviews are in: it’s a credit event for Vue, the UK multiplex operator. After two months of debate, the industry group tasked with deciding whether such an event has occurred has answered in the affirmative.
The Credit Derivatives Determinations Committee – or DC – confirmed Vue’s recent debt restructuring constitutes a payment trigger on credit default swaps (CDSs) that reference its debt. The decision hinged on the ability to establish sufficient public availability of information
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