NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) has partnered with a foremost authority on corporate bankruptcy and default, Professor Edward Altman, to launch KBRA Altman. The partnership is a corporate credit default analytics tool for market participants.
Corporate credit has grown rapidly in the U.S. over the past decade and especially in the weaker part of the credit spectrum. It also faces its greatest period of stress since the Global Financial Crisis as investors, issuers, and policymakers try to dimension the effects of the coronavirus (COVID-19) on the economy as well as the fiscal and monetary relief programs put in place to counteract the worldwide pandemic.
To navigate this challenging environment, KBRA is fortunate to have forged a strategic relationship with one of the leading experts on the credit markets, New York University Professor Edward Altman. Dr. Altman is the creator of the world-famous Altman Z-score models for corporate bankruptcy prediction globally. A Senior Advisor to KBRA, Dr. Altman has entrusted his corporate default databases (extending back to the 1970s) and defaulted security indexes (dating from 1987 for bonds and 1996 for loans) to KBRA as part of a multifaceted relationship.
KBRA Altman’s suite of products provides valuable context for those invested in the leveraged finance and corporate bond and loan markets. Distressed investors will be able to use the KBRA Altman indexes to benchmark performance. Credit portfolio managers will be able to incorporate forecasts for recovery rates across industries while tracking key trends in corporate defaults.
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About KBRA and KBRA Europe
KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) with the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe is registered with ESMA as a CRA. Kroll Bond Rating Agency Europe is located at 6-8 College Green, Dublin 2, Ireland.