Defaults and Returns in the High Yield Bond Market: The Year 2005 in Review and Market Outlook
Journal of Applied Research in Accounting and Finance (JARAF), Vol. 1, No. 1, p. 3, 2006
31 Pages Posted: 9 Nov 2006
Abstract
Dr. Altman has earned an international reputation as an expert on corporate bankruptcy, high yield bonds, distressed debt and credit risk analysis. In this article, Altman and his team provide a comprehensive review of the 2005 high yield bond market. The article provides detailed long-term analysis of the US market, as well as trends in default, bankruptcy, recovery and returns for investors. Against this historical backdrop, the article offers some guidance on expected default rates and market performance in the burgeoning high-yield distressed bond market.
Keywords: Corporate bonds, bankruptcy, distressed debt
JEL Classification: G33, G34
Suggested Citation: Suggested Citation
Do you have negative results from your research you’d like to share?
Recommended Papers
-
The Subprime Credit Crisis of 07
By Stuart M. Turnbull, Michel Crouhy, ...
-
Defaults and Returns in the High Yield Bond Market: the Year 2003 in Review and Market Outlook
By Edward I. Altman and Gonzalo Fanjul
-
Defaults and Returns on High Yield Bonds: The Year 2002 in Review and the Market Outlook
By Edward I. Altman and Gaurav Bana
-
Defaults and Returns on High Yield Bonds: The Year 2002 in Review and the Market Outlook
By Edward I. Altman and Gaurav Bana
-
Defaults and Returns on High Yield Bonds: The Year 2002 in Review and the Market Outlook
By Edward I. Altman and Gaurav Bana
-
The Re-Emergence of Distressed Exchanges in Corporate Restructurings
By Edward I. Altman and Brenda Karlin
-
Post-Chapter 11 Bankruptcy Performance: Avoiding Chapter 22
By Edward I. Altman, Tushar Kant, ...
-
Ownership Links, Leverage and Credit Risk
By Elisa Luciano and Giovanna Nicodano