Abstract
The purpose of this paper is to review a number of tools that may allow an independent observer to assess the likelihood of default, to provide the clues for an evaluation of likely restructuring scenarios and to be able to estimate possible financial and real implications of such an event. In this study we develop seven key measures for analyzing debt problems. The seven measures are mutually reinforcing in that each measure helps to shed lights on aspects of debt problems highlighted by the others. Depending on the nature of the problem some measures may be used alone.
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