The nature of credit risk in project finance

Marco Sorge

BIS Quarterly Review, 2004

Abstract: In project finance, credit risk tends to be relatively high at project inception and to diminish over the life of the project. Hence, longer-maturity loans would be cheaper than shorter-term credits.

JEL-codes: F34 G12 G28 G32 (search for similar items in EconPapers)

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