18 Jun Nothing compares to this truly unique book: Frankel

Much has been written about structured finance and rating, but nothing compares to this truly unique book. To my surprise, I could not put it down, as each chapter beckoned of more to come. The authors lay out solutions to the practical problem of rating debt securities in the structured finance context. They do so by explaining and analyzing with brilliant simplicity the theoretical foundations of rating.

In the practical context of structured finance and rating of debt, they guide the reader through complex theories for predicting the future, explaining their strengths and weaknesses, and ending with an original theory of their own. This book is a “must read” for anyone involved in structured finance. In light of the recent market failure, securities rating is indeed of interest to many investors. In fact, this book offers fascinating reading to anyone interested in the ways we seek to predict the future.

Tamar Frankel
Professor of Law
Boston University