A problem often considered in Operations Research and Computational Physics is the traveling salesman problem, in which a traveling salesperson has to find the shortest closed tour between a given set of cities touching each city exactly once. The distances between the single nodes are known to...

This study examines the impact of S&P rating events on the credit default swap (CDS) spread of firms and the spillover effect on competitors for the period 2004–2011. We find that both credit downgrades and upgrades have an impact on the CDS spread of event and non-event firms on the event...