Change search
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf
Credit Risk Assessments of Swedish RealEstate Companies
KTH, School of Architecture and the Built Environment (ABE), Real Estate and Construction Management.
2013 (Swedish)Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
Abstract [en]

The real estate industry is a sector where the companies generally have a capital structure which is high leveraged. The financing

– with the related terms – is therefore specifically of high importance for the companies in the sector. Traditionally, the way of obtain financing is by borrowing from the bank. Lately, due to new bank regulations, the banks have become more restrictive in their lending which have lead to a growth of other financing alternatives. For instance, the corporate bond market has grown rapidly. The development has increased the number who acts as lenders. Institutional investors are for an example an actor which invests in corporate bonds. Furthermore, the credit rating agencies plays indirectly an important role in the financing process since their credit ratings are a part in the process of determining the terms.

The terms (such as the interest rate) of the financing are mainly based on the credit risk of the company. Since the topic is of big importance and the financing for real estate companies is changing, the main focus is to create further knowledge and understanding regarding the assessments of the credit risk by each actor.  The present thesis shows the credit risk assessment process by each actor where the banks and the credit rating agencies have the most clear framework. The banks and the agencies do a deep assessment which then is discussed in

"committees" internally to reach the final assessment.  The investor’s combines own analyses with evaluating earlier credit analysis done by a credit rating agency or a financial advisor in a corporate bond issue.

Place, publisher, year, edition, pages
2013.
Keyword [en]
Credit risk, assessments, real estatecompanies, banks, investors, credit ratingagencies, financial crisis, corporate bonds, bank loans
National Category
Engineering and Technology
Identifiers
URN: urn:nbn:se:kth:diva-124335OAI: oai:DiVA.org:kth-124335DiVA: diva2:634089
Available from: 2013-06-28 Created: 2013-06-28 Last updated: 2013-06-28Bibliographically approved

Open Access in DiVA

fulltext(789 kB)1169 downloads
File information
File name FULLTEXT01.pdfFile size 789 kBChecksum SHA-512
c464512698e628fc16d368bcbf517f6424ac10b9b68b4c02eeb9cf91b1f0c37c28d4326ffc189d7f7cd8b5c085ec9866a2cf56c325fe10b5fd02e20915f31b80
Type fulltextMimetype application/pdf

By organisation
Real Estate and Construction Management
Engineering and Technology

Search outside of DiVA

GoogleGoogle Scholar
Total: 1169 downloads
The number of downloads is the sum of all downloads of full texts. It may include eg previous versions that are now no longer available

urn-nbn

Altmetric score

urn-nbn
Total: 438 hits
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf