Z-Score architect launches new rating metrics: Edward Altman profile
Edward Altman, the high yield and credit risk expert, tells Credit that his new initiative for evaluating creditworthiness of non-financials has an error rate almost half that of the rating agencies.
Edward Altman, Max Heine professor of finance at New York University’s Stern School of Business, is well known to anyone interested in corporate bankruptcy, high yield bonds and credit risk. After his Z-score formula – which predicted the probability of a company going bust within a two-year period – was first published in 1968, Altman has been a sought-after consultant to government agencies, central banks, financial institutions and corporates across all continents.
His latest work, the Z
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