Risky debt valuation differs greatly from that of no risk so that under uncertainty of income flower and discount rate, usually we can not get a kind of resonlution to express the type.

• 风险债务与无风险债务的估值有显著差异,风险债务估值不仅其收入流不确定,并且其贴现率也不确定,因此得不到一种解析表达式。