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Introduction

  • Manuel Ammann
Chapter
  • 645 Downloads
Part of the Springer Finance book series (FINANCE)

Abstract

Credit risk can be defined as the possibility that a contractual counterparty does not meet its obligations stated in the contract, thereby causing the creditor a financial loss. In this broad definition, it is irrelevant whether the counterparty is unable to meet its contractual obligations due to financial distress or is unwilling to honor an unenforceable contract.

Keywords

Credit Risk Corporate Bond Credit Spread Default Rate Yield Spread 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag Berlin Heidelberg 2001

Authors and Affiliations

  • Manuel Ammann
    • 1
  1. 1.Swiss Institute of Banking and FinanceUniversity of St. GallenSt. GallenSwitzerland

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