The article discusses credit derivatives and structured credit, providing a guide for investors. It explains the concept of credit risk, traditional methods of managing it, and the emergence of credit derivatives. The researchers also delve into the typology of credit derivatives, their applications, and the development of second-generation credit derivatives. The article further explores collateralized debt obligations (CDOs) and the market for credit derivatives and structured credit products. Key findings include the importance of credit risk in capital markets, the various types of credit derivatives available, and the growth and structure of the credit derivatives market.