Devised in the 1960s by Edward Altman, a Z score indicates the probability of a company entering bankruptcy within the next two years. The higher the Z score, the lower the probability of bankruptcy.

Forecasting fiscal stability in municipalities is increasingly critical as public entities face unprecedented financial challenges. Recent research has adapted Altman's renowned Z-Score model — ...

For decades a simple mathematical formula called the Z-Score has been the industry standard for predicting the likelihood that a company will file for bankruptcy protection. But after 40 years is the ...