# Research on default risk and high-yield bonds from Professor Edward Altman and the Salomon Center for the Study of Financial Institutions is cited

1 School News November 12, 2019 ![Seeking Alpha logo](/sites/default/files/styles/246w/public/assets/images/con_030729.jpg?itok=lsJdjgi0)>

Excerpt from [Seeking Alpha](https://seekingalpha.com/article/4305599-fallen-angel-etf-yielding-5_4-percent-rising-star-high-yield-universe) -- "More recent research by [Edward Altman](https://www.stern.nyu.edu/faculty/bio/edward-altman) and Brenda Kuehne at the Salomon Center for the Study of Financial Institutions at NYU Stern found that fallen angels have markedly lower default risk than other high-yield bonds. Between 1985 and 2017, the average annual default rate on fallen angels was around 1% a year lower than on bonds that were rated high-yield when issued."

[Read More](https://seekingalpha.com/article/4305599-fallen-angel-etf-yielding-5_4-percent-rising-star-high-yield-universe)