In this paper, we extend the framework of Leland’s 94 by examining corporate debt, equity and firm values with jump-difffusion processes. We choose two kinds of jumps such as the uniform and double exponential jumps to model the distribution of the log jump sizes. By this choice, we are able to derive closed-form results in both models for equity, debt and firm values. Analysis of credit spread, debt value and firm value has been done for three proposed models: diffusion process diffusion with uniform jump and diffusion with double exponential jumps. Our results have the same forms as those of Leland’s 94. However, in both of our models, the spreads are modified significantly in comparison with those of Leland due to jumps’ assumption.