March 19, 2020 / 4:52 PM / 10 days ago

Credit derivatives determinations committee asked question on Lebanon credit event

LONDON, March 19 (Reuters) - The EMEA Credit Derivatives Determinations Committee has been asked to rule whether a credit event has been triggered by Lebanon’s failure to pay its recent sovereign bond, according to a question posted on its website on Thursday.

Lebanon said earlier this month it would stop paying its foreign currency debt, including a bond maturing on March 9, and seek a debt restructuring as a months-long economic crisis left its foreign currency reserves dangerously depleted. (Reporting by Tom Arnold, editing by Karin Strohecker)

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