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The posterior probability P i is the forward probability of five nodes which is 1 (100%).
"What is the probability of default?
The probability of default on Treasury is zero.
Probability of default models assess the likelihood of default by an obligor.
Informational rents are associated with the probability of default.
The credit spread reflects the probability of default.
A rating is simply an estimate of the probability of default.
The markets had anticipated a high probability of default for months, he said.
Philadelphia's lower bond rating still signifies a low probability of default.
"It should directly map into probability of default," he said.
In an improving market, the probability of default falls.
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