Altman Z-score (English Wikipedia)

Analysis of information sources in references of the Wikipedia article "Altman Z-score" in English language version.

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Edward I. Altman; et al. (June 2017). "Financial Distress Prediction in an International Context: A Review and Empirical Analysis of Altman's Z-Score Model". Journal of International Financial Management and Accounting. 28 (2): 131–171. doi:10.1111/jifm.12053. S2CID 155302026.

Khatkale, Swati (2014). Symbiosis International University (ed.). "An exploratory study to assess the performance of indian credit rating agencies 2005 2013". hdl:10603/38090. Retrieved 19 December 2021. On the other hand all the defaults in case of Indian rated companies were in non-structured financial products. Defaulters like Arvind Products, Suzlon, Royal Orchid Hotel, Deccan Chronicle Holding & Ansal Properties had investment grade ratings either at the time of default or just a few days before the default. Altman's Z score predicted default in case of Royal Orchid, Arvind Products & Suzlon Energy, which was not reflected in the ratings. This showed that simple model like Altman's Z score was more informative than the ratings given by Credit Rating Agencies. Thus the findings of the case studies support the findings of overall accuracy of Indian Credit Rating Agencies based on default rates. So Indian Credit Rating Agencies have to improve the accuracy & timeliness of the ratings of normal non structured products.

Edward I. Altman; et al. (June 2017). "Financial Distress Prediction in an International Context: A Review and Empirical Analysis of Altman's Z-Score Model". Journal of International Financial Management and Accounting. 28 (2): 131–171. doi:10.1111/jifm.12053. S2CID 155302026.