Case explorer
Historical CDS cases
Every credit event in the benchmark: the entity, the instruments, the public documents, the verified outcomes, and how each model did on every question.
| Case | Entity | Event | Year | Questions | Documents | Split |
|---|---|---|---|---|---|---|
| Brightwater Energy Corp 2028 (B) | Brightwater Energy Corp corporate | Restructuring | 2028 | 11 | 3 | holdout |
| Federal Republic of Aurelia 2028 | Federal Republic of Aurelia sovereign | Restructuring | 2028 | 10 | 2 | holdout |
| Halvard Steel AG 2028 (C) | Halvard Steel AG corporate | Restructuring | 2028 | 10 | 2 | holdout |
| Northgate Shipping Ltd 2028 | Northgate Shipping Ltd corporate | Restructuring | 2028 | 10 | 2 | holdout |
| Republic of Marovia 2028 (B) | Republic of Marovia sovereign | Restructuring | 2028 | 10 | 2 | holdout |
| Republic of Norland 2028 (B) | Republic of Norland sovereign | Restructuring | 2028 | 10 | 2 | holdout |
| Federal Republic of Aurelia 2027 (B) | Federal Republic of Aurelia sovereign | Restructuring | 2027 | 10 | 2 | validation |
| Northgate Shipping Ltd 2027 (B) | Northgate Shipping Ltd corporate | Restructuring | 2027 | 10 | 2 | validation |
| Orinoco Retail Holdings plc 2027 | Orinoco Retail Holdings plc corporate | Failure to pay | 2027 | 10 | 2 | validation |
| Republic of Norland 2027 (C) | Republic of Norland sovereign | Restructuring | 2027 | 10 | 2 | validation |
| Solvane Airlines S.A. 2027 | Solvane Airlines S.A. corporate | Restructuring | 2027 | 9 | 2 | validation |
| United Provinces of Kestrel 2027 | United Provinces of Kestrel sovereign | Restructuring | 2027 | 10 | 2 | validation |
| Commonwealth of Tessaly 2026 | Commonwealth of Tessaly sovereign | Restructuring | 2026 | 10 | 2 | development |
| Kingdom of Vestmark 2026 | Kingdom of Vestmark sovereign | Restructuring | 2026 | 10 | 2 | development |
| Meridian Telecom S.A. 2026 | Meridian Telecom S.A. corporate | Restructuring | 2026 | 9 | 2 | development |
| Orinoco Retail Holdings plc 2026 (B) | Orinoco Retail Holdings plc corporate | Failure to pay | 2026 | 10 | 2 | development |
| Solvane Airlines S.A. 2026 (B) | Solvane Airlines S.A. corporate | Restructuring | 2026 | 9 | 2 | development |
| United Provinces of Kestrel 2026 (B) | United Provinces of Kestrel sovereign | Restructuring | 2026 | 10 | 2 | development |
| Calder Chemicals N.V. 2025 | Calder Chemicals N.V. corporate | Restructuring | 2025 | 10 | 2 | development |
| Commonwealth of Tessaly 2025 (B) | Commonwealth of Tessaly sovereign | Restructuring | 2025 | 10 | 2 | development |
| Halvard Steel AG 2025 | Halvard Steel AG corporate | Restructuring | 2025 | 10 | 2 | development |
| Kingdom of Vestmark 2025 (B) | Kingdom of Vestmark sovereign | Restructuring | 2025 | 10 | 2 | development |
| Meridian Telecom S.A. 2025 (B) | Meridian Telecom S.A. corporate | Restructuring | 2025 | 9 | 2 | development |
| Republic of Sanderia 2025 | Republic of Sanderia sovereign | Restructuring | 2025 | 9 | 2 | development |
| Brightwater Energy Corp 2024 | Brightwater Energy Corp corporate | Restructuring | 2024 | 11 | 3 | development |
| Calder Chemicals N.V. 2024 (B) | Calder Chemicals N.V. corporate | Restructuring | 2024 | 10 | 2 | development |
| Halvard Steel AG 2024 (B) | Halvard Steel AG corporate | Restructuring | 2024 | 10 | 2 | development |
| Republic of Marovia 2024 | Republic of Marovia sovereign | Restructuring | 2024 | 10 | 2 | development |
| Republic of Norland 2024 | Republic of Norland sovereign | Restructuring | 2024 | 10 | 2 | development |
| Republic of Sanderia 2024 (B) | Republic of Sanderia sovereign | Restructuring | 2024 | 9 | 2 | development |