ISDA Determination Committee Declares No Credit Event in Greece

International Swaps and Derivatives Association

March 1, 2012

Following the submission of two potential Credit Event questions on February 28, 2012, the ISDA EMEA Determinations Committee has declared that a Credit Event has not occurred in Greece.

The Committee noted that as the situation in Greece is still evolving, market participants should feel free to submit further questions and that a Credit Event could occur at a later date should further facts come to light.