Recent structural models have considered new factors to enhance their exploratory power over credit spreads. According to the empirical studies on capital structure, one of factors is to consider the stationary leverage ratio of the firm. On the other hand, some studies show that jump risks allow us to obtain more realistic credit spreads. This paper develops a simple structural model to incorporate both jump risks and stationary leverage ratio. Compared to the existing jump-diffusion structural model, this model generates a larger credit spread especially for investment-grade bonds, which is more consistent with data. This paper also shows that the jump size may be a significant factor which determines credit spreads for firms.