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Advanced Corporate Credit Analysis

  • Course Overview

    These four webinar sessions interactive course will cover detailed quantitative risk analysis including key credit ratios, foresee downside risk, sovereign, industry, and company-specific, how to analyse the impact of corporate finance activity on credit quality.

    • Distinguish between sovereign and country risk, understand how the rating agencies and other analysts assess these risks
    • Understand a structured approach to Industry risk analysis including the operating environment
    • Assess management’s strategies and determine an outlook for a company’s future performance.
    • Understand the credit risk drivers behind covid-19.
    • Evaluate credit risk in complex group structures.
    • Review the company and instrument rating process.
    • Analysis distressed financial statements Identify early warning signs of financial distress.
    Who Should Attend?

    This course will be of most value to:

    • Account officers
    • Credit managers
    • Commercial & corporate lending staff
    • Audit staff
    • Corporate bankers
    • Credit control &review staff
    • Relationship managers
    • Compliance officers

  • Webinar One

    Session 1: Introduction - Applying Credit Risk Techniques

    • Objectives and programme; participants’ personal objectives for the workshop
    • The Framework
    • The Risk Drivers in the Current Environment
    • The Challenges

    Session 2: Sovereign and Country Risk


    • Distinguish between sovereign and country risk,
    • Understand how the rating agencies and other analysts assess these risks,
    • Review the causes and effects of past and recent sovereign crises and use market prices to indicate credit perception.
    • A structured approach to assess country sovereign risk incorporating macroeconomics, sovereign debt exposure, political and financial sector factors


    Exercise: Participants will analyse a sovereign effect by Covid- 19 with a focus on the risk drivers going forward


    Session 3: Assessing Industry Risk


    • A structured approach to Industry risk analysis including the operating environment.
    • The components of a competitive position
    • Assessing competitive advantage, scale, scope and diversity, and operating efficiency
    • Explain how the COVID-19 crisis has triggered five major changes to the credit-risk environment
    • Review the crisis-induced shock to profit and loss will differ by sector and subsector along the recovery path.

    Exercise: Participants will review Asia Pacific companies’ financial benchmarks during the pandemic.

    Webinar Two:

    Session 1: Understanding & Assessing Business Risk


    • Assesses and evaluates the risk against sector and country and sovereign risk quality, risk appetite, and environmental risk including climate change.
    • View the borrower through different ECG cycles.
    • access the management intentions, plans, strategies, and motivations and along with philosophy, towards accounting, financial management, and risk appreciation.
    • Governance and regulations


    Exercise): Participants will review and assess the impact that management has had on the business and the migrate of governance and regulations risk.


    Session 2: Understanding & Assessing Financial Risk


    • The focus is accessing -the quality of accounting statements, the key risk factors, utilizing ratios to form an opening picture to be tested in the cash flow session along with sensitivity analysis.
    • Balance sheet and profit& loss Analytical Adjustments
    • Ratio Adjustments framework
    • How and when Adjustments apply
    • Analytical Adjustments


    Exercise): Participants will review and apply the ratios adjustments to an APAC manufacturing company.

    Webinar Three:

    Session 1: Understanding & Financial Risk (Part Two)


    • Review the economic cushion versus Equity
    • Assessing the impact of management on the company operations
    • Analysis COVID-19 Impact on the going concern assessment and disclosures.
    • Focus on asset quality and revaluation pre and during the CONVID-19 period


    Exercise: participants need to identify the risk drivers to be addressed in the cashflow assessment.


    Session 2: Assessing the Company Cashflow Dynamics


    • Understanding the difference between the Indirect and Direct methods of cash flow statement generation and their use in the financial management of the business.
    • Why cash flows matter to managers and debt and equity providers
    • Why cash flow analysis reveals more than income statement and balance sheet analysis
    • Understanding the difference between the Indirect and Direct methods of cash flow statement generation and their use in the financial management of the business.
    • Why EBITDA does not spell cash flow
    • Distinguishing cash flows from operations, investing, and financing
    • Proxy ratios (DSCR) include debt to EBITDA and their limitations
    • Asset values- measuring the credit quality.
    • Debt and other liabilities, including the perspective over time, risk of default, and degree of recovery.

    Exercise: Participants to review and assess a company direct and a indirect cashflow as a critical tool in making a credit decision.

    Webinar Four:


    Session 1: Projections and the Credit Decision
    • The approach to Financial Modelling - Bottom-up and Top-Down
    • Learn the techniques to forecast the company credit fundamentals with expected stress and changes in fundamentals including country and sovereign, industry, operating environment, and quality of management
    • Calculating maximum debt level
    • Projected Solvency

    Exercise: Participants Shaping and Testing the company projections.  Session 2: Understanding & Assessing Group Structures


    • Creating cashflow ring-fencing structures
    • Substantive consolidation.
    • Control the movement of cash and transfer of an asset by separateness covenants
    • Piercing the corporate veil
    • Analysis techniques are used to an EBITDA multiple and an EVA approach to access the value of subsidiaries and the groups.


    Exercise: Participants will provide the borrower with a cash flow cashflow ring-fencing solution as the lender second way out with covenants


    Session 3: The Company and Instrument Rating Process


    • Explain the different rating analytical frameworks, key qualitative and quantitative considerations.
    • Review issuer rating paper of a company that operates in China’s in the food delivery, in-store, hotel, and travel services sector during the convid-19 pandemic.

    Workshop Wrap-up
  • Our Tailored Learning Offering

    Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company’s exact requirements? If you’d like to do either of these, we can bring this course to your company’s office. You could even save up to 50% on the cost of sending delegates to a public course and dramatically increase your ROI.

    If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.

    We produce learning solutions that are completely unique to your business. We’ll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.

  • We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

    We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:

    • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
    • Track record – 10/10 of the world’s largest banks have chosen us as there training provider and we have delivered training across the largest banks and have trained over 25,000 professionals.
    • Knowledge – our 100+ strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
    • Reliability – if we promise it, we deliver it. We have delivered over 25,000 events both in person and online, using simultaneous translation to delegates from over 99 countries.
    • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 4.2/5 on service and 4.7/5 on Coursecheck
This course can be run as an In-house or Tailored Learning programme


  • Andrew Dodd


    Andrew’s background in banking and credit includes significant roles with Fuji Bank in a special corporate lending unit, leading to his next role as Regional Asia Pacific Director of consulting firms DC Gardner and BPP (UK’s largest listed Education Company). He was then VP of Asia Pacific for Moody’s KMV (now Moody’s Analytics), a position he held for over eight years which included credit training and consulting in APAC and EMEA. The next three years were spent as the Director of International and Corporate for a Fintech company, which provided software with an equity focus with banks and stockbrokers in the APAC region. He then moved to Hong Kong, undertaking Credit training projects mainly focusing on Basel II & III, and various credit consulting projects in Asia and EMEA. After four years in Hong Kong, Andrew founded a new company based in Singapore, specializing in training and consulting in the financial markets. Andrew has extensive experience in credit training and consulting using leading-edge credit management tools and technology, with an exceptional knowledge and experience of the Asia Pacific region. He is now based in Sydney. He currently updating risk and corporate finance CONVID-19 subject matter into training materials and delivering virtual classroom solutions in APAC.