August 24, 2010
ISDA to Publish LCDS Auction Terms for Boston Generating
The International Swaps and Derivatives Association, Inc. (ISDA) today announced that LCDX dealers voted to hold an auction for loan-only CDS transactions referencing Boston Generating LLC, a subsidiary of US Power Generating Company. Boston Generating filed a Chapter 11 petition with the US Bankruptcy Court in Manhattan on August 18.
ISDA will facilitate the process by publishing the auction terms on its website www.isda.org/credit, in due course. The auction will be administered by Markit and Creditex.
