Casino payment failure event has not occurred – CDS committee

LONDON (Reuters) – A committee that reviews disputes in the credit default swaps (CDS) market said on Friday that a ‘failure to pay’ credit event has not occurred in relation to Casino Guichard Perrachon dashing investors’ hopes for a payout on the company’s CDS.

The EMEA Credit Derivatives Determination Committee (CDDC) met on Thursday to discuss the question raised by an investor, it said on its website.

On Monday, the committee ruled in a separate decision that a bankruptcy credit event had not occurred for Casino, replying to a previous question raised by an investor.

(Reporting by Chiara Elisei, editing by Karin Strohecker)