The Hertz Corporation · Bankruptcy · 2020 · 7.125% Senior Notes due 2026
Is the issuer of the instrument the Reference Entity?
Verified answer
Basis. Issuer "The Hertz Corporation" matches the Reference Entity.
Source clauses
First Supplemental Indenture of 2019-08-01
How it was checked · 2 checks
- Rule re-applied. The Issuer matches Reference Entity rule (v1.2), re-applied to the stored facts, gives the same result as the Mastermind v3 run of 2026-09-29.
- Quote verified. The clause quoted for the issuer appears verbatim in the cited sections.
Issuer matches Reference Entity
The obligation must be an obligation of the Reference Entity: issued by it (alone, or as a co-issuer jointly and severally liable for the whole amount), or guaranteed by it under a Qualifying Guarantee. When the Reference Entity guarantees another issuer's obligation, this test is assisted review: CDSBench reports the guarantee findings (see Qualifying Guarantee) and leaves the decision to the reviewer. A successor needs separate analysis.
These checks are CDSBench's provisional reading of the 2014 ISDA Credit Derivatives Definitions, not legal advice.
Instrument: 7.125% Senior Notes due 2026
Source documents
The case record. Sections behind the verified answer are marked.
- DOC-1 Hertz Global Holdings / The Hertz Corporation 8-K, Item 1.03 Bankruptcy, petition 2020-05-22excerpts
- DOC-2 First Supplemental Indenture dated August 1, 2019, 7.125% Senior Notes due 2026 (EX-4.2)excerpts
- DOC-3 Base Indenture dated August 1, 2019, The Hertz Corporation (EX-4.1)excerpts
Related questions and cases
Same case
- #1 Is the instrument a Deliverable Obligation for this credit event, on 7 checks: the issuer is the Reference Entity; the Maximum Maturity (30 years), Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics; and Not Contingent?Eligible
- #2 Does the instrument meet the Maximum Maturity characteristic (30 years)?Yes
- #3 Does the instrument meet the Specified Currency characteristic (USD, EUR, JPY, GBP, CHF, CAD)?Yes
- #4 Does the instrument meet the Not Subordinated characteristic?Yes
- #5 Does the instrument meet the Not Bearer characteristic?Yes
- #6 Is the instrument Not Contingent (principal not reducible for a reason other than payment)?Yes
- #7 Does the instrument meet the Transferable characteristic?Yes
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Same credit event (bankruptcy); Same entity type (corporate); Has a verified entity_match outcome; Similar documentation language
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