is credit risk and default risk the same thing



Default risk is defined as the probability of default.

Credit risk includes default risk, as well as the _ amount of loss _ given default.

So the CFA glassory is wrong?

Credit risk

The risk of loss caused by a counterparty’s or debtor’s failure to make a promised payment. Also called default risk.

That conflicts with the text.

Personally, I wouldn’t worry about the distinction.