Credit Analysis Fundamentals and Issues (1 day)

AMT Training
Course summary
Professional Training
1 day
650 GBP
Full time
Professional Training
Course Dates
Online courses
650 GBP
Online delivery option may be available - Please contact provider

650 GBP
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Course description

Credit Analysis Fundamentals and Issues (1 day)

Credit Analysis Fundamentals

Delegates gain understanding of the credit rating process by examining the assessment of both operational and financial risks of the business. By the end of the session, delegates derive a rating for a case company.

Credit Analysis Issues

This program analyzes the financials from the credit perspective, making technical adjustments to the main numbers. Delegates analyze a variety of case companies by looking at the ratios and metrics used in the credit world. In addition, the session covers debt structuring issues.

Suitability - Who should attend?

  • New hires who have joined the firm late and missed the in-house program
  • Individuals looking to fill a knowledge gap
  • Experienced bankers looking to refresh their technical skills
  • Teams employed in financial strategy roles from non-banking corporations
  • Graduates preparing to interview for a role in the finance sector
  • Students at business school and looking for a career in finance

Training Course Content

Credit Analysis Fundamentals

Learning Outcomes

  • What is credit analysis?
  • Ratings scales
  • Default and recovery rates
    • Issuer and issue ratings
  • Purpose of credit analysis
  • Nature of credit risk
    • Asymmetric nature of credit risk
    • Difference between up/downside of equity and credit
  • Credit analysis - analytical approach
    • Key principles: cash based, forward looking and peer group
    • Evaluation of business and financial risks
    • How to weight different risks
  • Business risks
    • Key drivers of business risk and their identification
    • Macro, industry and company specific evaluation
  • Financial risk
    • Key components of financial analysis
    • Cash flow analysis from a credit point of view
    • Various cash flow concepts of rating agencies
    • Credit ratios: most common ratios and their application
    • Credit ratios according to the ratings category
    • Financial policy analysis
  • Rating Agencies: overview

Credit Analysis Issues

Learning Outcomes

  • Complex items from the standpoint of credit analysis
    • Pension obligations
    • Operating leases
    • Securitizations
    • Off balance sheet obligations
    • Hybrid securities: equity or debt?
    • Credit approach to adjustments to financial statements
    • Impact on credit quality
    • Rating agency view
  • Structural issues in credit analysis
    • The importance of structures and assessment frameworks
    • Notching up / down of debt
    • Contractual subordination
    • Structural subordination
    • Parent / subsidiary link
    • Rating agency methodology
    • Typical HY structures
  • Documentation - covenants
    • Concept of covenants
    • Type and benefit of covenants

Course delivery details

While this is a face to face training course, a blended learning approach is taken and delegates will be provided with access to AMT Online. Our study materials contain both the knowledge and ractice materials required to assist with the learning process and help you in your job role. Course materials include:

  • e-binder
  • laminated summary sheets
  • 24/7 access to DELTA online learning environment
  • class recordings
  • course notes
  • quizzes
  • electronic homework/study files

About provider

AMT Training - Financial Modeling Courses

For over 20 years we have been equipping analysts and associates with core skills for banking and finance. Our clients include the top ten investment banks and some of the biggest private equity firms in the world. With offices in...

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AMT Training

5th floor Whitechapel Building 10 Whitechapel High Street
E1 8QS London

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Average rating 4.8

Based on 12 reviews.

They were an amazing instructor! Very engaging and also expert of the topics.
Excellent virtual teaching, the instructor was very lively, spread a good mood and kept everyone very well engaged despite the difficult circumstances.
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