8010 Exam Dumps | Which of the following is not a credit event under ISDA definitions?

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PRMIA.8010.v2022-06-27.q87
Question 21

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Question 21/87

Which of the following is not a credit event under ISDA definitions?

A. Restructuring

B. Obligation accelerations

C. Rating downgrade

D. Failure to pay

Correct Answer: C

Explanation
According to ISDA, a credit event is an event linked to the deteriorating credit worthiness of an underlying reference entity in a credit derivative. The occurrence of a credit eventusually triggers full or partial termination of the transaction and a payment from protection seller to protection buyer. Credit events include
- bankruptcy,
- failure to pay,
- restructuring,
- obligation acceleration,
- obligation default and
-repudiation/moratorium.
A rating downgrade is not a credit event.

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