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The request, viewable on the EMEA Credit Derivatives Determination Committee’s (CDDC) website, comes on top of a separate investor question on whether a “bankruptcy credit event” has occurred at the French supermarket group that was raised earlier in the week.
A CDDC meeting on that question, which could also lead to a payout on CDS, is scheduled for later on Friday.
Casino said on May 26 it had entered court-backed talks with creditors after receiving consent from them to open the court process without triggering an event of default under the terms of its debt.
A number of circumstances can constitute a credit event that can trigger a payout on CDS, which insure against losses from exposure to corporate or sovereign debt.
There were $428 million of net notional Casino CDS outstanding as of May 19, according to DTCC data.
Credit rating agency Moody’s (NYSE:MCO) said on Wednesday it had downgraded Casino to “CAA3” with a negative outlook which reflected “very high probability of default”.
