Underwriter Reputation & Certification in the High Yield Bond Market


The book chapter is concerned with the role of underwriter reputation and its relation to the quality (or reliability) of certification. It puts a particular focus on the high-yield corporate bond market, as certification of issuer quality should be particularly valuable to both issuing firms and investors in the low-grade segment.

In: M. Fridson and K. Sterling (eds.), ‘High Yield Future Tense: Cracking the Code of Speculative Debt’, New York Society of Security Analysts