Excel Solvency Testing

Our Business Solvency workbook employs all the multivariate analysis equations published by Edward Altman. Altman is the Max L. Heine Professor of Finance at the Stern School of Business, New York University.

Prof. Altman has an international reputation as an expert on corporate bankruptcy, high yield bonds, distressed debt and credit risk analysis. He was named Laureate 1984 by the Hautes Etudes Commerciales Foundation in Paris for his accumulated works on corporate distress prediction models and procedures for firm financial rehabilitation and awarded the Graham & Dodd Scroll for 1985 by the Financial Analysts Federation for his work on Default Rates on High Yield Corporate Debt and was named "Profesor Honorario" by the University of Buenos Aires in 1996. He is currently an advisor to the Centrale dei Bilanci in Italy and to several foreign central banks. Prof. Altman is also the Chairman of the Academic Council of the Turnaround Management Association. Prof. Altman was named to the Max L. Heine endowed professorship at Stern in 1988. He was inducted into the Fixed Income Analysts Society Hall of Fame in 2001 and elected President of the Financial Management Association (2002). Professor Altman was named one of the 100 most influential people in the world in 2005 by the publication Treasury and Risk Management. He received his MBA and Ph.D. in Finance from the University of California, Los Angeles.

In the workbook supplied you can simply enter two comparative sets of financial data for any company (including your own). The Altman Z scores are readily computed using the multivariate formulas provided by Professor Altman.