valuation techniques. A sound understanding of already existing credit pricing models is necessary for such a development. These … for financial institutions. At the same time, the use and the valuation of credit derivatives has been widely criticised … credit derivatives no longer seems to be an appropriate alternative. However, correct valuation of these derivatives is still …

valid valuation techniques. A sound understanding of already existing credit pricing models is necessary for such a … for financial institutions. At the same time, the use and the valuation of credit derivatives has been widely criticised … credit derivatives, no longer seems to be an appropriate alternative. However, correct valuation of these derivatives is …

in the pricing and portfolio management of credit derivatives due to the non-normality in probability distribution of … credit risk. Various models have been developed for credit derivatives pricing. After having drawn the general picture for … the credit derivatives, we have studied some recent pricing models in a Das (1999) framework, in this study. Also appended …