EDWARD I.ALTMAN – CORPORATE FINANCIAL DISTRESS & BANKRUPTCY

There is a comprehensive look at the growth and evolution of distressed debt.

This Third Edition of the most authoritative finance book on the topic updates and expands its discussion of corporate distress and bankruptcy, as well as the related markets dealing with high-yield and distressed debt, and offers state-of-the-art analysis and research on the costs of bankruptcy, credit default

There are editorial reviews.

From the inside.

The fields of corporate distress and bankruptcy, as well as related markets dealing with high-yield and distressed debt, have undergone enormous growth and change since the publication of the last edition of Corporate Financial Distress and Bankruptcy in 1993. Over the last decade, both professionals and academics have become more interested in the activities surrounding the phenomenon of bankruptcy.

The discussion of corporate distress and bankruptcy as well as the related markets dealing with high-yield and distressed debt have been updated in the newly revised Third Edition of Corporate Financial Distress and Bankruptcy. In addition to expanded empirical and descriptive aspects of bankruptcy and credit analysis, this Third Edition offers state-of-the-art analysis and research on the costs of bankruptcy, credit default prediction, bankruptcy and distressed restructuring, and the post-emergence period performance of bankrupt firms.

The third edition of Corporate Financial Distress and Bankruptcy deals with a number of key issues central to your understanding of the restructuring process in Section One and deals with the development and implications of models built to classify and predict corporate distress in Section Two. Specific topics are covered in the opening section.

An introduction to the statistical background of corporate distress.

There are international comparisons of the U.S. Bankruptcy Code.

Chapter 11 performance.

Distressed firm valuation.

Highly complex restructurings.

Distressed securities can be invested in.

There are risks and returns in the high-yield bond market.

Distressed firms have corporate governance issues.

In Section Two, models for estimating default probabilities are discussed, followed by explanations of their applications to many different scenarios, including distressed debt investing, and legal issues. The Z-Score approach can be used to assist the management of the distressed firm itself and facilitate its return to financial health.

Filled with in-depth insight and practical advice, Third Edition offers a well-rounded look at the growth and evolution of distressed debt, corporate bankruptcy and credit risk in today’s dynamic business environment.

Edward I.Altman is the author of Corporate Financial Distress & Bankruptcy.