Title

An Examination Of The Yield Spread Between Insured And Uninsured Debt

Comments

Authors: contact us about adding a copy of your work at STARS@ucf.edu

Keywords

Business; Finance

Abstract

Currently, municipal bonds insured by major insurance firms receive the highest credit rating from rating agencies. The interest rates on regular triple‐A municipal bonds, however, have been persistently below those of insured bond issues. The yield spread between insured and uninsured triple‐A bonds in the tax‐exempt market is examined here, and it is shown that the yield spread may be attributable to split ratings and default‐related risks.

Journal Title

Journal of Financial Research

Volume

12

Issue/Number

3

Publication Date

1-1-1989

Document Type

Article

Language

English

First Page

235

Last Page

244

WOS Identifier

WOS:A1989AP64600005

ISSN

0270-2592

Share

COinS