ISDA: GenOn Energy bankruptcy credit event occurs; auction planned

By Caroline Salls

Pittsburgh, June 19 – A bankruptcy credit event occurred for GenOn Energy, Inc., according to the Americas Credits Derivatives Determination Committee of the International Swaps and Derivatives Association, Inc. (ISDA).

ISDA said in a news release that the committee will hold an auction related to the company’s outstanding CDS transactions.

GenOn, a Princeton, N.J.-based power producer, filed bankruptcy on June 14 in the U.S. Bankruptcy Court for the Southern District of Texas. The Chapter 11 case number is 17-33695.

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