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Credit event
An event such as a debt default or bankruptcy that will affect the payoff on a credit derivative. ISDA has published a definition of a credit event.
Informational efficiency of credit default swap and stock markets: The impact of credit rating announcements [An article from: Journal of Banking and Finance]
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Do credit rating agencies add to the dynamics of emerging market crises? [An article from: Journal of Financial Stability]
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Bankruptcy
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