Default recognition relief for COVID-19-related debt restructuring allows credit rating agencies to withhold default classification with disclosure. Credit rating agencies may, if in their assessment restructuring is solely due to COVID-19-related stress or under the designated resolution framework, refrain from recognizing such restructuring as a default, provided they make appropriate disclosure in the press release; this relaxation is extended until December 31, 2020.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Default recognition relief for COVID-19-related debt restructuring allows credit rating agencies to withhold default classification with disclosure.
Credit rating agencies may, if in their assessment restructuring is solely due to COVID-19-related stress or under the designated resolution framework, refrain from recognizing such restructuring as a default, provided they make appropriate disclosure in the press release; this relaxation is extended until December 31, 2020.
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