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.
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© 2001 Springer-Verlag Berlin Heidelberg
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Ammann, M. (2001). Introduction. In: Credit Risk Valuation. Springer Finance. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-662-06425-2_1
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DOI: https://doi.org/10.1007/978-3-662-06425-2_1
Publisher Name: Springer, Berlin, Heidelberg
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Online ISBN: 978-3-662-06425-2
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