I have to validate the use of the ISDA CDS standard model.
Don't understand me wrong - I am sure that the ISDA model is "good" I just need to know what it is in detail.
I can download an Excel-plugin and C code but I can not find a full documentation of the model. I assume that it is a constant hazard rate model or a present value model using the probabilities of default similar to what one can find e.g. in Hull.
Does anyone have a link to the official and full documentation?
EDIT: I have found this where the authors write about the ISDA CDS standard model. It would nevertheless be useful to have the official documentation by ISDA.