MARTIN FRIDSON, CFA
Global Credit StrategistBNP Paribas Asset Management
FRANK J. FABOZZI, PH.D., CFA, CPA
Professor of FinanceEDHEC Business School
ADAM B. COHEN, J.D.
The purpose of this chapter is to provide a framework for the credit analysis of corporate bonds. Although there are numerous types of corporate bonds outstanding, three major issuing segments can be differentiated: industrials, utilities, and finance companies. This chapter will deal primarily with industrials in its general description of bond analysis and then discuss utility and finance issues. Special factors that must be considered in the credit analysis of high-yield corporate issues are addressed. ...