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| Bond Prices, Default Probabilities and Risk Premiums by John Hull of the University of Toronto, September 2004 Abstract: This paper estimates the average risk-neutral and real-world default probabilities for companies with different credit ratings. It calculates the risk premiums earned by bond holders and discusses possible reasons for the risk premiums. Published in: Journal of Credit Risk, Vol. 1, No. 2, (Spring 2005), pp. 53-60. |
