UPDATE: ISDA Rules Argentina in 'Failure-to-Pay' Credit Event (ARGT)

ISDA rules Argentina in 'failure-to-pay' credit event, according to Bloomberg headlines.

The Global X FTSE Argentina 20 ETF (NYSE: ARGT) is on watch following headlines.

UPDATE - The PR is below:

The International Swaps and Derivatives Association, Inc. (ISDA) today announced that its Americas Credit Derivatives Determinations Committee resolved that a failure to pay credit event occurred in respect of the Argentine Republic.

The Committee also resolved to hold an auction in respect of outstanding CDS transactions. ISDA will publish further information regarding the auction on its website, www.isda.org/credit, in due course.

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