Event Publicly Available Information:
The coupon on the 8% Senior Notes 2014 issued by Lighthouse International Company S.A. (the "Notes") and guaranteed by the Reference Entity was due on 31 October 2011 subject to a 30 day grace period. That grace period expired on 30 November 2011 and the Reference Entity has now confirmed that payment will not be made. Accordingly, we believe that a Failure to Pay Credit Event has occurred in relation to the Reference Entity as guarantor of the Notes and we would ask the DC to make a determination. A link to the Reference Entity's press release is attached below: http://www.seat.it/seat/en/press/press_releases/2011/financial/COS_291111_EN.html