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- Title
Credit spreads, recovery rates and changes in corporate capital structure.
- Abstract
The article discusses the corporate bond spreads, recovery rates and corporate capital structure in the U.S. for 2007. Compared with historical levels, corporate bond spreads have generally narrowed over recent years and remain low. Meanwhile, the changes in capital structures can possibly affect recovery rates for investors in corporate debt. Senior creditor's recovery rates should, other things being equal, be higher the larger the cushion of subordinated debt holders below them.
- Subjects
UNITED States; COMMERCIAL credit; BONDS (Finance); CAPITAL structure; CORPORATE debt
- Publication
Bank of England Quarterly Bulletin, 2007, Vol 47, Issue 2, p196
- ISSN
0005-5166
- Publication type
Article