%0 Journal Article %A Roberto Marchesini %A Grady Perdue %A Vicki Bryan %T Applying Bankruptcy Prediction Models to Distressed High Yield Bond Issues %D 2004 %R 10.3905/jfi.2004.391027 %J The Journal of Fixed Income %P 50-56 %V 13 %N 4 %X High-yield bonds have a relatively high probability of default, but there is no clear methodology for predicting their default. Evaluation of several corporate bankruptcy prediction models indicates that none of the major models is suitable for predicting default on high-yield bonds. A new methodology produces significantly better results. %U https://jfi.pm-research.com/content/iijfixinc/13/4/50.full.pdf