Credit analysis is among the most important and least understood factors for judging the investment value of a particular issue. Valid and potentially profitable investment conclusions can be derived from fundamental credit analysis. Bond Credit Analysis presents a framework for managing an successful and valuable corporate or municipal bond analysis, while providing a complement of informative case histories from private and government organizations including Bergen Brunswig Corporation, Windmere-Durable Holdings, Inc., Tevecap, and Yellowstone Energy Limited Partnership Project. The chapters comprise of a review of financial statements, credit analysis for corporation bonds, the challenges in the credit analysis of emerging market corporate bonds, debt covenants, MBS/ABS Loss Terminology, and perspectives of rating and research analysts.
Book Details:
- Author: Frank J. Fabozzi
- ISBN: 9780470336830
- Year Published: 2001
- Pages: 572
- BISAC: BUS036010, BUSINESS & ECONOMICS/Investments & Securities / Bonds
About the Book and Topic:
Credit analysis is among the most important and least understood factors for judging the investment value of a particular issue. Valid and potentially profitable investment conclusions can be derived from fundamental credit analysis. Bond Credit Analysis presents a framework for managing an successful and valuable corporate or municipal bond analysis, while providing a complement of informative case histories from private and government organizations including Bergen Brunswig Corporation, Windmere-Durable Holdings, Inc., Tevecap, and Yellowstone Energy Limited Partnership Project. The chapters comprise of a review of financial statements, credit analysis for corporation bonds, the challenges in the credit analysis of emerging market corporate bonds, debt covenants, MBS/ABS Loss Terminology, and perspectives of rating and research analysts.
Bond Credit Analysis discusses: Why Does Credit Analysis Work?, Review of Financial Statements, Credit Analysis for Corporate Bonds, The Analysis of High-Yield Corporate Bonds, Basics of Fundamental Equity Analysis, Critical Failings of EBITDA as a Cash Flow Measure, Challenges in the Credit Analysis of Emerging Market Corporate Bonds, Debt Covenants: Applications in Emerging Markets, Municipal Bond Credit Analysis, The Measurement of Prepayments and Defaults in ABS Markets, Understanding MBS/ABS Loss Terminology, Credit Analysis of Whole Loan CMOs, Mortgage Credit Analysis, Credit Considerations in Analyzing Asset-Backed Securities: A Rating Analyst’s Perspective, Credit Considerations in the Analysis of Asset-Backed Securities: A Research Analyst’s Perspective, Considerations in the Credit Analysis of Commercial Mortgage-Backed Securities, Credit-Driven Prepayment and Default Analysis, and AAA CMBS: Prospective Analysis to Manage Perception-Diminished Liquidity.
About the Author
Frank J. Fabozzi, PhD, is editor of the Journal of Portfolio Management, which is read by thousands of institutional investors. An Adjunct Professor of Finance at Yale University’s School of Management, he is a chartered Financial Analyst and a Certified Public Accountant. Editor or author of over 100 books, his world-class finance books are used around the world by professionals, academics, students, strategists, and investors in college courses, executive training programs, company training programs, and prepatory courses for the chartered financial analyst (CFA) exam. He serves on the board of directors of the BlackRock complex of funds and the Guardian Life family of funds and is also a Fellow of the International Center for Finance at Yale University. Dr. Fabozzi earned his doctorate in economics from the City University of New York in 1972 and in 1994 received an honorary doctorate of Humane Letters from Nova Sotheastern University.