Research regarding creditworthiness estimation for bond issuers listed on Bucharest Stock Exchange

Ioan Ovidiu Spătăcean () and Crina Mihaela Pungea ()
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Ioan Ovidiu Spătăcean: Faculty of Economics and Law, ED1 Department - Economic Sciences, University of Medicine, Pharmacy, Sciences and Technology "George Emil Palade" from Targu Mures, Gh. Marinescu Street, no. 38, Targu Mures, 540139, Romania
Crina Mihaela Pungea: -

Acta Marisiensis. Series Oeconomica, 2020, vol. 1, 41-46

Abstract: The purpose of this research is to test the resilience of issuers to the financial pressure generated by the commitments made in connection with the issuance of debt instruments (bonds) and to identify issuers whose financial position and performance present the susceptibility of a major default risk. The research actions involved determining the indicators specific to the fundamental analysis, applying the classic insolvency risk assessment models (Altman and Conan Holder) and assessing the future evolution of the key financial indicators on the basis of the forecasts. The results obtained confirm or disprove the existence of significant uncertainties regarding the ability to repay the bond loans.

Keywords: bond issuers; fundmental analysis; default risk; financial liabilities; creditworthiness (search for similar items in EconPapers)
JEL-codes: G41 M41 M42 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:pmu:oecono:v:1:y:2020:p:41-46

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