ISDA: Bankruptcy credit event occurs for Cengage Learning

By Toni Weeks

San Luis Obispo, Calif., July 10 - The International Swaps and Derivatives Association, Inc. (ISDA) said its Americas Credit Derivatives Determinations Committee determined that a bankruptcy credit event has occurred for Cengage Learning Acquisitions, Inc.

ISDA said it will publish further information on its website in due course, including whether an auction for the company's outstanding credit default swap transactions will be held.

Cengage, a Stamford, Conn.-based provider of teaching, learning and research services for the academic, professional and library markets, filed for bankruptcy on July 2. The Chapter 11 case number is 13-44106.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.