"Credit derivatives : a primer on credit risk, modeling, and instruments" : a primer on credit risk, modeling, and instruments

TODAYS COMPLETE GUIDE TO CREDIT RISK MARKETS AND APPLICATIONS FOR EVERY FINANCIAL PROFESSIONAL Simple, yet rigorous explanations: no credit derivatives experience necessary Covers principles, models, techniques, and widely used credit instruments, including CDSs and CDOs Now includes detailed coverage of solving business problems with credit-sensitive instruments Todays credit risk market is immenseand immensely important, attracting everyone from hedge funds to banks and insurers. Today, corporate finance professionals must understand credit risk, both to manage risk in their own organizations and to consult with their clients. Most books in the field, however, are either too academic, or assume extensive experience. Credit Derivatives, Revised Edition, fills the gap, explaining the credit risk market clearly and simply, in language any working financial professional can understand.   The authors first explain the underlying principles of credit, and the various risks associated with extending loans and other types of credit. Next, they systematically present todays leading methods and instruments for managing credit risk. Youll learn how models can be used to gauge credit risk, and how credit derivatives can be used to isolate the risk and sell it to someone willing to accept it.   The authors introduce several of these credit derivativessuch as total return swaps, credit spread options, and credit linked notesand devote two chapters to CDSs and CDOs, some of the markets most widely used credit instruments. They conclude with a brand-new chapter on using credit-sensitive instruments to solve problems in industries ranging from utilities to biotech to insurance.