CDS market steers clear of Monte Dei Paschi despite restructuring

Italian lender gets shareholder approval for debt-for-equity swap and capital raise 

Comment by: Anonymous. Posted 7 years ago [2016-11-27 22:37:54]

CDS is just not as useful when the Reference Entity is near failure. There are too many legal uncertainties and the "gaming risk" of Credit Events and recoveries of recent years in other names.