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  3. Repudiation/Moratorium
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Repudiation/Moratorium - Meaning

A Credit Event applicable to Sovereign and some Asian Reference Entities which occurs when there is both a statement by an authorised government officer that repudiates or rejects the validity of one or more of their debt obligations, followed by a Failure to Pay or Restructuring of one or more of such obligations.

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Repudiation/Moratorium
Official statement
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Closing Price (or Range)
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Retained earnings
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