ISDA: Bankruptcy credit event occurs for Edison Mission Energy

By Marisa Wong

Madison, Wis., Dec. 18 - The International Swaps and Derivatives Association, Inc. (ISDA) said its Americas Credit Derivatives Determinations Committee determined that a bankruptcy credit event has occurred for Edison Mission Energy.

The committee has also decided that an auction will be held for Edison Mission's outstanding credit default swap transactions.

ISDA said it will make another announcement about the auction.

Edison Mission is an Irvine, Calif.-based developer of wind energy projects. It filed for Chapter 11 bankruptcy on Dec. 17 in the U.S. Bankruptcy Court for the Northern District of Illinois. The case number is 12-49219.

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