Skip to content
CDSBench
See demo

Republic of Marovia · Sovereign

Republic of Marovia: restructuring, 2024

Republic of Marovia experienced a restructuring credit event in 2024. The record contains the terms of the USD 2039 Notes, a Determinations Committee notice.

1 instrument · 10 questions · 2 documentsDevelopment splitSynthetic case · mock scores

Reference outcome

ReviewApplying the standard Deliverable Obligation Characteristics (Not Subordinated, Specified Currency, Not Contingent, Transferable, Maximum Maturity 30 years, Not Bearer), is the instrument a Deliverable Obligation for this credit event?

Key reason. Bearer form requires the clearing-system exception to be reviewed.

Supporting record:DOC-1#S2DOC-1#S3DOC-1#S4DOC-1#S5DOC-1#S6DOC-1#S8

For USD 2039 Notes

Reference entity
Republic of Marovia
Credit event
Restructuring · 2024-11-04
Entity type
Sovereign
Benchmark split
Development

Instruments

Each obligation has its own page with terms and questions.

  • USD 2039 NotesReview

    Republic of Marovia · ISIN XS1000079190

    10 questions

Questions and verified answers

Open a question for every model's answer and citations. Clause links open the documents below.

  1. #100 What is the maturity date of the instrument? Answer as YYYY-MM-DD.
    2039-11-042 / 3 models Mastermind correct
    DOC-1#S3
  2. #101 In which currency is the instrument denominated? Answer with the ISO currency code.
    USD3 / 3 models Mastermind correct
    DOC-1#S2
  3. #102 Does the instrument's maturity satisfy a maximum maturity of 30 years measured from the credit event date (2024-11-04)?
    Yes3 / 3 models Mastermind correct
    DOC-1#S3DOC-2#S1
  4. #103 Is the instrument denominated in a Specified Currency (USD, EUR, JPY, GBP, CHF, CAD)?
    Yes3 / 3 models Mastermind correct
    DOC-1#S2
  5. #104 Is the instrument subordinated?
    No3 / 3 models Mastermind correct
    DOC-1#S4
  6. #105 Is the instrument transferable without the consent of the Issuer?
    Yes3 / 3 models Mastermind correct
    DOC-1#S6
  7. #106 Applying the standard Deliverable Obligation Characteristics (Not Subordinated, Specified Currency, Not Contingent, Transferable, Maximum Maturity 30 years, Not Bearer), is the instrument a Deliverable Obligation for this credit event?
    Review3 / 3 models Mastermind correct
    DOC-1#S2DOC-1#S3DOC-1#S4DOC-1#S5DOC-1#S6DOC-1#S8
  8. #107 Is the issuer of the instrument the Reference Entity or a recognised successor of it according to the record?
    Yes3 / 3 models Mastermind correct
    DOC-1#S1
  9. #108 Which section of the record establishes the seniority (ranking) of the instrument? Answer with the section identifier (e.g. DOC-1#S4).
    DOC-1#S41 / 3 models Mastermind correct
    DOC-1#S4
  10. #109 Does the record contain enough evidence to reach a reliable deliverability conclusion without further documents?
    No0 / 3 models Mastermind incorrect
    Whole record

Documents

The record every model received. 8 sections support the verified answers.

  • DOC-1 USD 2039 Notes — Terms and Conditions (excerpt)
  • DOC-2 Determinations Committee notice — Republic of Marovia

Timeline

  1. 2021-11-04Notes issued.
  2. 2024-11-04Credit event determined.

Related cases

Same entity first, then precedents with a similar event, entity type and questions.

Categories on this case: Extraction, Maturity, Currency, Seniority, Transferability, Deliverability, Entity match, Evidence, Uncertainty.

Mastermind

Analyse a case like this

Mastermind runs these deliverability checks on your own documents and ties each conclusion to its clause.

See Mastermind