Even fundamental changes in any market can have a way of creeping up on you. It is often hard to look back and point to one particular factor or event that marked the turning point. But the resolution last month of a seemingly fairly arcane dispute between bondholders and UK credit-checking firm Experian is being hailed by some as a turning point in the relationship between corporates and the fixed-income market – or, more specifically, corporates and the CDS market – in restructuring disputes.
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