Auction sets 1.5% recovery on Tribune credit default swaps
A final settlement value of 1.5% was set for credit default swaps referencing publishing company Tribune during an auction on January 6. A price of 23.75% was set for loan credit default swaps (LCDS) referencing the company.
Tribune Company was a popular CDS reference entity and a component of many of the CDX indices of North American CDS. On December 8, the Chicago-based company, which publishes daily newspapers such as the Chicago Tribune and the LA Times as well as running 23 television
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