运用基于期权定价理论的KMV模型来得到公司的预期违约率和违约损失，从而能合理地确定贷款利率。
The KMV Model, which is based on Merton′s option pricing theory, is applied to get the expected default frequency and default loss of the loan.
上周汇丰承认他们在美国的高风险房贷业务违约率超过预期。
Last week HSBC admitted that its riskier American mortgage-holders were defaulting in unexpected Numbers.
如果增长率继续下降，希腊将无法实现财政收入目标，甚至会要求更多援助。市场走势表明，投资者预期希腊最终将会债务违约，很大程度上正是因为担忧上述恶性循环。
A further decline in growth could cause Greece to miss revenue targets and even seek more bailouts, which is largely why the market is pricing in the likelihood that Greece will eventually default.
不断上升的违约率对公司收益的负面影响可能要比人们预期的时间更长。
Rising defaults could weigh on earnings for longer than expected.
如果假设更为典型的违约债券回收率(1美元约回收40美分)，公司债券市场定价反应69%的违约率预期。
On a more typical recovery rate (around 40 cents on the dollar), the markets were pricing in a 69% default rate.
如果假设更为典型的违约债券回收率(1美元约回收40美分)，公司债券市场定价反应69%的违约率预期。
On a more typical recovery rate (around 40 cents on the dollar), the markets were pricing in a 69% default rate.
应用推荐