1. Select three industrial companies that have been experiencing difficult times. a. For each of them draw...
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1. Select three industrial companies that have been experiencing difficult times.
a. For each of them draw a figure similar to Figure 23.8 . Are the companies’ troubles reflected in their financial ratios?
b. Calculate a default probability for each using the formula shown in Section 23-4 .
c. Now look at the company’s bond rating. Do the two measures provide consistent messages?
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