Faculty News

Professor Edward Altman's estimation that roughly 8% of all firms whose debt is rated speculative grade will default in the next 12 months is cited

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Excerpt from Money Morning -- "Edward Altman, an emeritus professor of finance for the New York University Stern School of Business, estimates about 8% of all firms whose debt is rated speculative grade will default in the next 12 months. Over the next two years, 20% will go belly-up. Altman also expects at least 165 large firms with more than $100 million in liabilities will go bankrupt by the end of 2020."

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