{"id":2769,"date":"2012-01-16T16:45:51","date_gmt":"2012-01-16T16:45:51","guid":{"rendered":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/?post_type=glossary&p=2769"},"modified":"2023-10-26T14:05:53","modified_gmt":"2023-10-26T13:05:53","slug":"credit-default","status":"publish","type":"glossary","link":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/glossary\/credit-default\/","title":{"rendered":"Credit Default"},"content":{"rendered":"","protected":false},"template":"","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","inline_featured_image":false},"tags":[],"class_list":["post-2769","glossary","type-glossary","status-publish","hentry"],"acf":[],"semantic_search":{"post_id":2769,"title":"Credit Default","link":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/glossary\/credit-default\/","categories":[],"tags":[],"content":"\n\n\n
\n\t

The Credit Default processes are triggered when a Party’s Credit Cover Percentage (CCP) exceeds a number of thresholds. The Level 1 Credit Default process is triggered when the CCP exceeds 80% and the Level 2 Credit Default process is triggered when the CCP exceeds 90%. The Party must reduce the Credit Cover percentage below 80% by the end of the query period to resolve the Credit Default<\/p>\n

BSC defined definition<\/h2>\n

means Level 1 Credit Default or Level 2 Credit Default; Is a status which a Trading Party may enter should its Credit Cover Percentage exceed thresholds specified in the BSC.<\/p>\n

Further information<\/h2>\n