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Market Size and Investment Performance of Defaulted Bonds and Bank Loans: 1987-2002

Altman, Edward I. et al.
NYU Faculty Digital Archive · Papers
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multidisciplinary
The defaulted and distressed, public and private debt markets in the United States increased enormously to a record $942 billion (face value) at the end of 2002. The market value of this increasingly attractive alternative investment segment was approximately $512 billion. Defaulted securities pe
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