Leveraged Finance: Concepts, Methods, and Trading of High-Yield Bonds, Loans, and Derivatives

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The Yield Book Inc. is a company that provides The Yield Book , a fixed income analytics system, which, among other services, provides historical data on corporate bond yields, spreads, prices and returns. Information is available on www.yieldbook.com.

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This ratio is calculated by dividing funds from operation by total debt.

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This ratio is calculated by dividing total debt by total capital.

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Calculated by dividing total debt by EBITDA.

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See, for example, Edward I. Altman, “Measuring Corporate Bond Mortality and Performance,” Journal of Finance 44 (September 1989): 909- 922; Edward I. Altman, “Research Update: Mortality Rates and Losses, Bond Rating Drift,” unpublished study prepared for a workshop sponsored by Merrill Lynch Merchant Banking Group, High Yield Sales and Trading, 1989; Edward I. Altman and Scott A. Nammacher, Investing in Junk Bonds (New York: John Wiley & Sons, Inc., 1987); Paul Asquith, David W. Mullins, Jr., and Eric D. Wolff, “Original Issue High Yield Bonds: Aging Analysis of Defaults, Exchanges, and Calls,” Journal of Finance 44 (September 1989): 923-952; Marshall Blume and Donald Keim, “Risk and Return Characteristics of Lower-Grade Bonds 1977-1987,” Working Paper (8-89), Rodney L. White Center for Financial Research, Wharton School, University of Pennsylvania, 1989; Marshall Blume and Donald Keim, “Realized Returns and Defaults on Lower-Grade Bonds,” Rodney L. White Center for Financial Research, Wharton School, University of Pennsylvania, 1989; ...