Distressed Debt Prices and Recovery Rate Estimation
Title | Distressed Debt Prices and Recovery Rate Estimation PDF eBook |
Author | Haizhi Lin |
Publisher | |
Pages | 138 |
Release | 2008 |
Genre | |
ISBN |
Recovery Rates From Distressed Debt
Title | Recovery Rates From Distressed Debt PDF eBook |
Author | Mr.Manmohan Singh |
Publisher | International Monetary Fund |
Pages | 26 |
Release | 2003-08-01 |
Genre | Business & Economics |
ISBN | 1451857837 |
On a credit rating-adjusted basis, spreads on U.S. high-yield debt have typically been regarded as a lower bound for emerging market debt. However in the C-rated and defaulted segment, emerging market debt has traded at lower spreads than similarly rated U.S. high yield debt. We show that the lower spreads reflect the fact that the total returns from defaulted debt in the emerging markets have been significantly higher than returns from similarly rated high yield defaulted debt under Chapter 11.
Corporate Financial Distress, Restructuring, and Bankruptcy
Title | Corporate Financial Distress, Restructuring, and Bankruptcy PDF eBook |
Author | Edward I. Altman |
Publisher | John Wiley & Sons |
Pages | 374 |
Release | 2019-02-27 |
Genre | Business & Economics |
ISBN | 1119481856 |
A comprehensive look at the enormous growth and evolution of distressed debt markets, corporate bankruptcy, and credit risk models This Fourth Edition of the most authoritative finance book on the topic updates and expands its discussion of financial distress and bankruptcy, as well as the related topics dealing with leveraged finance, high-yield, and distressed debt markets. It offers state-of-the-art analysis and research on U.S. and international restructurings, applications of distress prediction models in financial and managerial markets, bankruptcy costs, restructuring outcomes, and more.
Recovery Ratios and Survival Times for Corporate Bonds
Title | Recovery Ratios and Survival Times for Corporate Bonds PDF eBook |
Author | Ivailo Izvorski |
Publisher | International Monetary Fund |
Pages | 33 |
Release | 1997-07-01 |
Genre | Business & Economics |
ISBN | 1451850603 |
This paper analyzes the determinants of the recovery ratios and survival times (time until default) for U. S. corporate bonds. We show that seniority, the type of industry in which the firm operates, and the type of restructuring attempted after default are the major determinants of the cross-sectional distribution of individual bond recovery ratios. On an industry level, physical asset obsolescence, industry growth, and industry concentration are the most important factors. We also analyze survival times for corporate bonds and find that initial time to maturity and the general economic conditions at maturity and default explain a large fraction of the cross-sectional variation of survival times.
Recovery Risk
Title | Recovery Risk PDF eBook |
Author | Edward I. Altman |
Publisher | Bloomberg Press |
Pages | 364 |
Release | 2005-01-01 |
Genre | Business & Economics |
ISBN | 9781904339502 |
In this ground-breaking new title, Risk Books brings together three prominent editors to provide a timely reference text on loss given default (LGD) measurement and management and the requirements of the Basel II Capital Accord.
Sovereign Debt Restructurings 1950-2010
Title | Sovereign Debt Restructurings 1950-2010 PDF eBook |
Author | Mr.Udaibir S. Das |
Publisher | International Monetary Fund |
Pages | 128 |
Release | 2012-08-01 |
Genre | Business & Economics |
ISBN | 1475505531 |
This paper provides a comprehensive survey of pertinent issues on sovereign debt restructurings, based on a newly constructed database. This is the first complete dataset of sovereign restructuring cases, covering the six decades from 1950–2010; it includes 186 debt exchanges with foreign banks and bondholders, and 447 bilateral debt agreements with the Paris Club. We present new stylized facts on the outcome and process of debt restructurings, including on the size of haircuts, creditor participation, and legal aspects. In addition, the paper summarizes the relevant empirical literature, analyzes recent restructuring episodes, and discusses ongoing debates on crisis resolution mechanisms, credit default swaps, and the role of collective action clauses.
Distressed Debt Analysis
Title | Distressed Debt Analysis PDF eBook |
Author | Stephen G. Moyer |
Publisher | J. Ross Publishing |
Pages | 518 |
Release | 2004-11-15 |
Genre | Business & Economics |
ISBN | 1932159185 |
Providing theoretical and practical insight, this book presents a conceptual, but not overly technical, outline of the financial and bankruptcy law context in which restructurings take place. The author uses numerous real- world examples to demonstrate concepts and critical issues. Readers will understand the chess-like, multi- move strategies necessary to achieve financially advantageous results.