Analysis of Structured Securities

<em>The Analysis of Structured Securities</em> presents the first intellectually defensible framework for systematic assessment of the credit quality of structured securities.<br>It begins with a detailed description and critique of methods used to rate asset-backed securities collateralized debt obligations and asset-backed commercial paper. The book then proposes a single replacement paradigm capable of granular dynamic results. It offers extensive guidance on using numerical methods in cash flow modeling as well as a groundbreaking section on trigger optimization. Casework on applying the method to automobile ABS CDOs-of-ABS and aircraft-lease securitizations is also presented.<br>This book is essential reading for practitioners who seek higher precision efficiency and control in managing their structured exposures.<br>