As defaults soar, it is one of the first big firms to have its restructuring complicated by holders of credit-default swaps (CDSs).

随着违约剧增，它是公司的重组被信用违约互换持有人搞复杂了的最初的公司之一。

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The market for credit default swaps is pointing to a surge in defaults on corporate bonds.

信用违约交换（CDS）市场预示，公司债券违约率将出现飞速上升。

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Some of these assets are extremely complicated: credit derivatives, collateralized debt obligations, credit defaults swaps.

NPR: Reporters Analyze Wall Street's Downward Turn

There currently is no centralized trading platform for credit defaults swaps.

FORBES: Magazine Article

Similar practices also caused massive systemic exposure to credit default swaps (CDS), as traders bet on credit defaults without holding any of the underlying debt obligations.

FORBES: Intelligent Investing Briefing Book