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| Tekijä: | Hsueh, L. P. Chandy, P. R. |
| Otsikko: | An examination of the yield spread between insured and uninsured debt. |
| Lehti: | Journal of Financial Research
1989 : AUTUMN, VOL. 12:3, p. 235-244 |
| Asiasana: | BOND MARKETS INSURANCE |
| Kieli: | eng |
| Tiivistelmä: | Currently rating agencies give the highest credit rating to municipal bonds by major insurance firms. The interest rate on regular triple-A municipal bonds, however, have been persistently below those of insured bond issues. The yield spread between these two types in the tax-exempt market is investigated here. The authors show that the yield spread may be attributable to split ratings and default-related risks. |
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