There are reasons to be a lot more positive about Italian government bonds, but BTPs, shouldn’t be perceived as risk-free, and some corporate credit risk looks safer.
From Wall Street giants to emerging market specialists: discover the firms whose ratings can move markets, shape economies & determine the cost of capital ...
Gray, Dale . F., Robert C. Merton, and Zvi Bodie. "Contingent Claims Approach to Measuring and Managing Sovereign Credit Risk." Special Issue on Credit Analysis. Journal of Investment Management 5, no ...
An alternative approach, which the Bank of Italy has adopted, is to compute empirical estimates based on market prices.
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