Professor Edward Altman Launches Digital App for Renowned Z-Score, "Altman Z-Score Plus"
--“Altman Z-Score Plus” Offers Enhancements to Assess Credit Risk in Global Environment--
Professor Altman predicts an increase in the U.S., and especially Europe's, high-yield corporate bond default rate to perhaps 4.0% in 2012 based on the twin risks of a further slowing of the U.S. GDP and a default in at least one European country's bonds.
The original Altman Z-Score covered US-based manufacturing companies that are publicly traded.
The new Altman Z-score Plus now also covers:
- Non-US companies, including those in emerging markets such as China
- Non-manufacturing firms, both public and private (Z’’-Score)
- Privately-held industrial manufacturing firms (Z’-Score)
- The assignment of a 1-to 10-year probability of default
- A percentile ranking likelihood of bankruptcy by industrial category
- A bond-rating equivalent (BRE) for each company that compares its most recent Z, Z' or Z”-Score with the average score for appropriate bond rating classes from AAA to D (default)
Professor Altman will share his outlook for sovereign and corporate credit markets during a webinar on February 15, 11am EST, hosted by NYU Stern’s MS in Risk Management Program.
For more information on The Altman Z-score Plus, visit http://altmanzscoreplus.com/