Credit derivatives are financial instruments that are designed to transfer the credit exposure of an underlying asset or issuer between two or more parties. They help to hedge the exposure of portfolios that are sensitive to risk. Credit Derivatives and Synthetic Structures is a comprehensive guide that explains how to use credit derivatives to manage risk. It covers the various types of credit derivatives, their pricing, accounting issues, tax considerations, and legal documentation. Authors Anson and Fabozzi create a solid foundation for readers by addressing risk, and the building blocks of credit derivatives, and move upward and outward into the more complex issues associated with the topic.