Day one of this seminar covers peer group analysis and the complexities of conglomerates, and then examines the pros and cons of market-based credit models versus traditional, fundamental analysis. Day two covers the credit implications of complex capital structures and links them to event risk and related situations and transactions, such as leveraged buyouts (LBOs) and mergers and acquisitions (M&A). Other event risks, such as accounting irregularities and litigation, will also be covered. On day three, the seminar focuses on the early warning signs of financial distress and building and using projection models, including sensitivity analysis. The topics enable credit practitioners to review real market situations and assess the cashflow and credit implications. This will therefore focus more on loss given default (LGD) versus the probability of default (PD) concentration of the preceding courses. Each credit issue will be analyzed both from a theoretical and a practical perspective, using recent market examples. The course concludes with a comprehensive case study designed to bring all the various topics together in a real-world example.
Moody's Analytics Professional Development
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