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Markit LCDX News

Lyondell Chemical Company Credit Event Auction to be Held

7 January 2009 – Markit LCDX dealers, polled by Markit, voted to conduct a Credit Event Auction for Lyondell Chemical Company (Lyondell) on a date to be determined. The Event Determination Date is 7 January 2009. Lyondell is a constituent of LCDX Series 8, 9 and 10. Lyondell is also a constituent of the CDX HY Index. The designated priority of the underlying obligations of Lyondell is first lien.

Tribune Company Auction Results

6 January 2009 - Creditex and Markit, in partnership with major credit derivative dealers, today announced the results of Credit Event Auctions conducted to facilitate settlement of credit derivative trades referencing Tribune Company bonds and loans. This marks the first time that auctions were run to settle both credit default swaps (CDS) and loan-only credit default swaps (LCDS) contracts in connection with a single reference entity default. At 3:00 pm ET today, the final price of Tribune bonds was determined to be 1.5% for the purpose of settling credit derivative transactions. The final price of Tribune loans was determined to be 23.75% for the purpose of settling loan-only credit derivative transactions.

Hawaiian Telcom Communications, Inc. Auction Results

17 December 2008 - Markit and Creditex, in partnership with 10 major credit derivative dealers, today announced the results of a Credit Event Auction that determined a price to facilitate settlement of credit derivative trades referencing the first lien loans of Hawaiian Telcom Communications, Inc. At 2:00 pm ET today, the final price of Hawaiian Telcom loans was determined to be 40.125% for the purpose of settling loan-only credit derivative transactions. Additional information can be found on www.creditfixings.com.

Masonite International Corporation Auction Results

9 December 2008 - Creditex and Markit, in partnership with 10 major credit derivative dealers, today announced the results of a Credit Event Auction that determined a price to facilitate the settlement of credit derivative trades referencing the first lien loans of Masonite International Corporation. At 2:00 pm ET today, the final price for Masonite International Corporation first lien loans for the purpose of settling credit derivative transactions was determined to be 52.5%.

Tribune Company Credit Event Auction to be Held

9 December 2008 – Markit LCDX dealers, polled by Markit, voted to conduct a Credit Event Auction for Tribune Company on 6 January 2009. The Event Determination Date is 9 December 2008. Tribune Company is a constituent of LCDX Series 9 and 10. Tribune is also a constituent of the CDX HY Index. The designated priority of the underlying obligations of Tribune Company is first lien.

Hawaiian Telcom Communications, Inc. Credit Event Auction to be Held

1 December 2008 – Markit LCDX dealers, polled by Markit, voted to conduct a Credit Event Auction for Hawaiian Telcom Communications, Inc. (Hawaiian Telcom) on a date to be determined. The Event Determination Date is 1 December 2008. Hawaiian Telcom Communications, Inc. is a constituent of LCDX Series 8, 9 and 10. Hawaiian Telcom Communications, Inc. is not a constituent of any other Markit index. The designated priority of the underlying obligations of Hawaiian Telcom Communications, Inc. is first lien.

Masonite International Corporation Credit Event Auction to be Held

18 November 2008 – Markit LCDX dealers, polled by Markit, voted to conduct a Credit Event Auction for Masonite International Corporation (Masonite) on a date to be determined. On Oct 15th, 2008, Masonite failed to make a payment on its senior subordinated notes. Masonite also failed to make interest payments within the 30 day grace period which resulted in a default on November 14th, 2008. The Event Determination Date is 18 November 2008. Masonite International Corporation is a constituent of LCDX Series 8, 9 and 10. Masonite International Corporation is not a constituent of any other Markit index.

Markit LCDX Index Roll Postponed

3 October 2008 - London and New York, NY- Markit, a financial information services company that owns the Markit LCDX index, today announced that it has postponed the roll of the index into Series 11 pending the launchof a market standard non-cancellable single name loan credit-default swap (CDS) contract.
 
Loan CDS dealers are designing a non-cancellable single name loan CDS contract to enhance liquidity by eliminating uncertainty linked to the cancellability of the current market standard contract.
 
If and when market participants agree on a market standard non-cancellable single name loan CDS contract, Markit will integrate the language and characteristics of this contract into the Markit LCDX index.