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Degradation of p-MOSFET parameters during negative-bias temperature instability (NBTI) stress is studied for different nitridation conditions of the silicon oxynitride (SiON) gate dielectric, using a recently developed ultrafast on-the-fly IDLIN technique having 1-mus resolution. It is shown that the degradation magnitude, as well as its time, temperature, and field dependence, is governed by nitrogen (N) density at the Si/SiON interface. The relative contribution of interface trap generation and hole trapping to overall degradation as varying interfacial N density is qualitatively discussed. Plasma oxynitride films having low interfacial N density show interface trap dominated degradation, whereas relative hole trapping contribution increases for thermal oxynitride films having high N density at the Si/SiON interface.