2026-07-072026-07-07http://salesiana.dossiersoluciones.com/handle/123456789/210115In this letter, I consider the issue of pricing risky debt by following Merton's approach. I generalize Merton's results to the case where the interest rate is modeled by the CIR term structure. Exact closed forms are provided for the risky debt's price.Revtex, 8 pagesStatistical MechanicsPricing of Securitiestext