The Bank Credit Analysis Handbook

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The Bank Credit Analysis Handbook

Author : Jonathan Golin
Publisher : John Wiley & Sons
ISBN 13 : 0470821574
Total Pages : 949 pages
Book Rating : 4.4/5 (78 download)

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Book Synopsis The Bank Credit Analysis Handbook by : Jonathan Golin

Download or read book The Bank Credit Analysis Handbook written by Jonathan Golin and published by John Wiley & Sons. This book was released on 2013-06-18 with total page 949 pages. Available in PDF, EPUB and Kindle. Book excerpt: A hands-on guide to the theory and practice of bank credit analysis and ratings In this revised edition, Jonathan Golin and Philippe Delhaise expand on the role of bank credit analysts and the methodology of their practice. Offering investors and practitioners an insider's perspective on how rating agencies assign all-important credit ratings to banks, the book is updated to reflect today's environment of increased oversight and demands for greater transparency. It includes international case studies of bank credit analysis, suggestions and insights for understanding and complying with the Basel Accords, techniques for reviewing asset quality on both quantitative and qualitative bases, explores the restructuring of distressed banks, and much more. Features charts, graphs, and spreadsheet illustrations to further explain topics discussed in the text Includes international case studies from North America, Asia, and Europe that offer readers a global perspective Offers coverage of the Basel Accords on Capital Adequacy and Liquidity and shares the authors' view that a bank could be compliant under those and other regulations without being creditworthy A uniquely practical guide to bank credit analysis as it is currently practiced around the world, The Bank Credit Analysis Handbook, Second Edition is a must-have resource for equity analysts, credit analysts, and bankers, as well as wealth managers and investors.

The Bank Credit Analysis Handbook

Author : Jonathan L. Golin
Publisher :
ISBN 13 :
Total Pages : 740 pages
Book Rating : 4.:/5 (22 download)

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Book Synopsis The Bank Credit Analysis Handbook by : Jonathan L. Golin

Download or read book The Bank Credit Analysis Handbook written by Jonathan L. Golin and published by . This book was released on 2001 with total page 740 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Handbook of Credit Risk Management

Author : Sylvain Bouteille
Publisher : John Wiley & Sons
ISBN 13 : 1118300203
Total Pages : 44 pages
Book Rating : 4.1/5 (183 download)

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Book Synopsis The Handbook of Credit Risk Management by : Sylvain Bouteille

Download or read book The Handbook of Credit Risk Management written by Sylvain Bouteille and published by John Wiley & Sons. This book was released on 2012-12-17 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive guide to credit risk management The Handbook of Credit Risk Management presents a comprehensive overview of the practice of credit risk management for a large institution. It is a guide for professionals and students wanting a deeper understanding of how to manage credit exposures. The Handbook provides a detailed roadmap for managing beyond the financial analysis of individual transactions and counterparties. Written in a straightforward and accessible style, the authors outline how to manage a portfolio of credit exposures--from origination and assessment of credit fundamentals to hedging and pricing. The Handbook is relevant for corporations, pension funds, endowments, asset managers, banks and insurance companies alike. Covers the four essential aspects of credit risk management: Origination, Credit Risk Assessment, Portfolio Management and Risk Transfer. Provides ample references to and examples of credit market services as a resource for those readers having credit risk responsibilities. Designed for busy professionals as well as finance, risk management and MBA students. As financial transactions grow more complex, proactive management of credit portfolios is no longer optional for an institution, but a matter of survival.

A Pragmatist's Guide to Leveraged Finance

Author : Robert S. Kricheff
Publisher : FT Press
ISBN 13 : 0132855240
Total Pages : 282 pages
Book Rating : 4.1/5 (328 download)

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Book Synopsis A Pragmatist's Guide to Leveraged Finance by : Robert S. Kricheff

Download or read book A Pragmatist's Guide to Leveraged Finance written by Robert S. Kricheff and published by FT Press. This book was released on 2012-02-27 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: The high-yield leveraged bond and loan market (“junk bonds”) is now valued at $3+ trillion in North America, €1 trillion in Europe, and another $1 trillion in emerging markets. What’s more, based on the maturity schedules of current debt, it’s poised for massive growth. To successfully issue, evaluate, and invest in high-yield debt, however, financial professionals need credit and bond analysis skills specific to these instruments. Now, for the first time, there’s a complete, practical, and expert tutorial and workbook covering all facets of modern leveraged finance analysis. In A Pragmatist’s Guide to Leveraged Finance, Credit Suisse managing director Bob Kricheff explains why conventional analysis techniques are inadequate for leveraged instruments, clearly defines the unique challenges sellers and buyers face, walks step-by-step through deriving essential data for pricing and decision-making, and demonstrates how to apply it. Using practical examples, sample documents, Excel worksheets, and graphs, Kricheff covers all this, and much more: yields, spreads, and total return; ratio analysis of liquidity and asset value; business trend analysis; modeling and scenarios; potential interest rate impacts; evaluating and potentially escaping leveraged finance covenants; how to assess equity (and why it matters); investing on news and events; early stage credit; and creating accurate credit snapshots. This book is an indispensable resource for all investment and underwriting professionals, money managers, consultants, accountants, advisors, and lawyers working in leveraged finance. In fact, it teaches credit analysis skills that will be valuable in analyzing a wide variety of higher-risk investments, including growth stocks.

The Bank Analyst's Handbook

Author : Stephen M. Frost
Publisher : John Wiley & Sons
ISBN 13 : 0470091193
Total Pages : 572 pages
Book Rating : 4.4/5 (7 download)

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Book Synopsis The Bank Analyst's Handbook by : Stephen M. Frost

Download or read book The Bank Analyst's Handbook written by Stephen M. Frost and published by John Wiley & Sons. This book was released on 2005-09-27 with total page 572 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is not uncommon to meet professionals in financial services who have only a vague idea of what their colleagues actually do. The root cause is specialization and the subsequent development of jargon that makes communication between common specialists faster and more precise but is virtually impenetrable to everybody else. The Bank Analyst’s Handbook provides a modern introduction to financial markets and intermediation. Individual subject areas are covered in a thorough but clear and succinct manner. The breadth of the author’s experience as a sell-side bank analyst is exploited to good effect to pull together these threads and create a coherent framework for the analysis of financial markets, whether these are in advanced economies or developing markets. The Handbook is well-written and highly accessible. It builds on orthodox financial theory (with all of its flaws and controversies) but also highlights many of the real problems involved with translating such theory into practice. It can be appreciated at many different levels and this explains its wide target readership. The Bank Analyst’s Handbook: Bridges the gap between the more superficial introductory books and specialist works Covers all the important functions and subjects related to the financial services industry Provides a comprehensive overview for financial services professionals, business school students, consultants, accountants, auditors and legal practitioners, analysts and fund-managers and corporate managers. "An excellent guide for any professionals who are coming into the banking industry. Extremely well-written, covering clearly and lucidly a range of topics which many bankers themselves don't understand. I will make this book mandatory reading - no, make that studying - for anybody I hire to work as a financial sector consultant." —Chris Matten, Executive Director, PricewaterhouseCoopers "A great insight into the often murky and impenetrable world of banking... compulsory reading for analysts and investors alike." —Hugh Young, Managing Director, Aberdeen Asset Management Asia Ltd

The Practice of Lending

Author : Terence M. Yhip
Publisher : Springer Nature
ISBN 13 : 3030321975
Total Pages : 468 pages
Book Rating : 4.0/5 (33 download)

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Book Synopsis The Practice of Lending by : Terence M. Yhip

Download or read book The Practice of Lending written by Terence M. Yhip and published by Springer Nature. This book was released on 2020-02-25 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive treatment of credit risk assessment and credit risk rating that meets the Advanced Internal Risk-Based (AIRB) approach of Basel II. Credit risk analysis looks at many risks and this book covers all the critical areas that credit professionals need to know, including country analysis, industry analysis, financial analysis, business analysis, and management analysis. Organized under two methodological approaches to credit analysis—a criteria-based approach, which is a hybrid of expert judgement and purely mathematical methodologies, and a mathematical approach using regression analysis to model default probability—the book covers a cross-section of industries including passenger airline, commercial real estate, and commercial banking. In three parts, the sections focus on hybrid models, statistical models, and credit management. While the book provides theory and principles, its emphasis is on practical applications, and will appeal to credit practitioners in the banking and investment community alongside college and university students who are preparing for a career in lending.

How to Analyse Bank Financial Statements

Author : Thomas Padberg
Publisher : Harriman House Limited
ISBN 13 : 0857195182
Total Pages : 246 pages
Book Rating : 4.8/5 (571 download)

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Book Synopsis How to Analyse Bank Financial Statements by : Thomas Padberg

Download or read book How to Analyse Bank Financial Statements written by Thomas Padberg and published by Harriman House Limited. This book was released on 2017-01-30 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial statements of banks differ very much from those of non-banks. The assets and liabilities are mostly financial based, and the equity ratio is far lower than the equity ratios of industrial companies. Banking supervision has a big influence on the financial statements too. Recent years have shown the risks which can evolve from banks, but normal instruments of financial statement analysis are not sufficient to analyse banks and locate these risks: different methods are needed. This book, by experienced bank analyst Thomas Padberg, provides analysts and investors with the tools to analyse bank financial statements, find problems in bank finances, and assess the risks of banks. Examples with real bank financial data are used to show readers the step-by-step methods to follow when looking at bank financial statements. The book covers: - The specific accounting rules that apply to banks - How to analyse bank segment reporting - The ratios to use when analysing bank financial statements - How to analyse bank profit and loss accounts - Equity analysis and stock analysis of banks This is an essential guide for all analysts and serious investors who need to analyse bank financial statements.

Credit Derivatives and Structured Credit

Author : Richard Bruyere
Publisher : John Wiley & Sons
ISBN 13 : 0470026235
Total Pages : 294 pages
Book Rating : 4.4/5 (7 download)

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Book Synopsis Credit Derivatives and Structured Credit by : Richard Bruyere

Download or read book Credit Derivatives and Structured Credit written by Richard Bruyere and published by John Wiley & Sons. This book was released on 2006-06-14 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past decade, credit derivatives have emerged as the key financial innovation in global capital markets. At end 2004, the market size hit $6.4 billion (in notional amounts) from virtually nothing in 1995. This rise has been spurred by the imperative for banks to better manage their risks, not least credit risks, and the appetite shown by institutional investors and hedge funds for innovative, high yielding structured investment products. As a result, growth in collateralized debt obligations and other second-generation products, such as credit indices, is currently phenomenal. It is enabled by the standardization and increased liquidity in credit default swaps – the building block of the credit derivatives market. Written by market practitioners and specialists, this book covers the fundamentals of the credit derivatives and structured credit market, including in-depth product descriptions, analysis of real transactions, market overview, pricing models, banks business models. It is recommended reading for students in business schools and financial courses, academics, and professionals working in investment and asset management, banking, corporate treasury and the capital markets. Highlights include: Written by market practitioners and specialists with first-hand experience in the credit derivatives and structured credit market A clearly-written, pedagogical book with numerous illustrations Detailed review of real-case transactions A comprehensive historical perspective on market developments including up-to-date analysis of the latest trends

The Banking Crisis Handbook

Author : Greg N Gregoriou
Publisher : CRC Press
ISBN 13 : 1439818541
Total Pages : 630 pages
Book Rating : 4.4/5 (398 download)

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Book Synopsis The Banking Crisis Handbook by : Greg N Gregoriou

Download or read book The Banking Crisis Handbook written by Greg N Gregoriou and published by CRC Press. This book was released on 2009-12-01 with total page 630 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explores the Origin of the Recent Banking Crisis and how to Preclude Future CrisesShedding new light on the recent worldwide banking debacle, The Banking Crisis Handbook presents possible remedies as to what should have been done prior, during, and after the crisis. With contributions from well-known academics and professionals, the book contains e

The Structured Credit Handbook

Author : Arvind Rajan
Publisher : John Wiley & Sons
ISBN 13 : 0470100087
Total Pages : 544 pages
Book Rating : 4.4/5 (71 download)

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Book Synopsis The Structured Credit Handbook by : Arvind Rajan

Download or read book The Structured Credit Handbook written by Arvind Rajan and published by John Wiley & Sons. This book was released on 2007-03-31 with total page 544 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Structured Credit Handbook is a comprehensive introduction to all types of credit-linked financial instruments. This book provides state-of-the-art primers on single tranche collateralized debt obligations (CDOs), collateralized loan obligations (CLOs), credit derivatives (such as credit default swaps and swaptions), and iBoxx indexes. Filled with in-depth insight and expert advice, The Structured Credit Handbook covers all aspects of the synthetic arbitrage CDO market, including new instruments such as CDO2. Readers will also gain a firm understanding of the investment rationale, risks, and rewards associated with CDO investments through this valuable resource. The exploding use of credit derivatives and collateralized debt obligations (CDOs) has transformed the world of credit, creating an $18 trillion market almost overnight and resulting in innumerable investment and career opportunities globally. The Structured Credit Handbook provides the reader with a comprehensive and clear roadmap to today's new credit landscape. The full spectrum of structured credit products, from single-name CDS to CDOs, is explained in a simple, clear fashion that is free from the financial jargon and mathematical complexity which characterize many other derivative texts. The handbook begins with an in-depth explanation of the building blocks of the structured credit markets, single-name default swaps and indexes, and it culminates with complex products such as credit options, synthetic tranches, CDOs based on bank loans and asset-backed securities, and CDO-squareds. Written by experienced practitioners who have participated in this market since its infancy, each of the thirteen chapters introduces and analyzes a new product and explains its practical applications. A rich set of real-life case studies illustrate the application of each product in a concrete market setting. The book may be used in a semester-long course on structured credit as part of a business or finance curriculum. Whether you are a market professional, a university student or faculty member, or simply a financially savvy layperson, look no further for an up-to-date and thorough introduction to this rapidly growing and exciting field. Dr. Arvind Rajan, Managing Director, Citigroup Global Markets, is engaged in proprietary trading of Structured Credit products, and until recently, was global head of Structured Credit Research and Strategy at Citigroup. Glen McDermott (New York, NY) is Director of Fixed Income Sales and the former head of CDO Research at Citigroup Global Markets Inc. Ratul Roy is head of CDO Strategy for Citigroup Global Markets and has spent the prior nine years in structuring or analyzing CDOs and other structured credit products.

CREDIT APPRAISAL & ANALYSIS OF FINANCIAL STATEMENTS

Author : R.K.GUPTA
Publisher : Notion Press
ISBN 13 : 1947586076
Total Pages : 259 pages
Book Rating : 4.9/5 (475 download)

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Book Synopsis CREDIT APPRAISAL & ANALYSIS OF FINANCIAL STATEMENTS by : R.K.GUPTA

Download or read book CREDIT APPRAISAL & ANALYSIS OF FINANCIAL STATEMENTS written by R.K.GUPTA and published by Notion Press. This book was released on 2017-08-02 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first book for bankers and finance managers on credit appraisal with analysis of financial statements in very simple language coveringvarious problems being faced by the officers of almost all banks specificallyafter introduction of Company Act 2013. The book has been updated to30.06.2017. Mounting NPAs & disciplinary actions in the banks are reportedto be a result of weak appraisal. This book has covered all such aspects tounderstand logically with all ins and outs of appraisal along with financialstatements. It will prove to be a bible for all officers who are working in banksbut have no background of banking terminologies and its technical aspectswith logical understanding besides finance officers.

Advanced Credit Risk Analysis and Management

Author : Ciby Joseph
Publisher : John Wiley & Sons
ISBN 13 : 111860489X
Total Pages : 454 pages
Book Rating : 4.1/5 (186 download)

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Book Synopsis Advanced Credit Risk Analysis and Management by : Ciby Joseph

Download or read book Advanced Credit Risk Analysis and Management written by Ciby Joseph and published by John Wiley & Sons. This book was released on 2013-04-22 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt: Credit is essential in the modern world and creates wealth, provided it is used wisely. The Global Credit Crisis during 2008/2009 has shown that sound understanding of underlying credit risk is crucial. If credit freezes, almost every activity in the economy is affected. The best way to utilize credit and get results is to understand credit risk. Advanced Credit Risk Analysis and Management helps the reader to understand the various nuances of credit risk. It discusses various techniques to measure, analyze and manage credit risk for both lenders and borrowers. The book begins by defining what credit is and its advantages and disadvantages, the causes of credit risk, a brief historical overview of credit risk analysis and the strategic importance of credit risk in institutions that rely on claims or debtors. The book then details various techniques to study the entity level credit risks, including portfolio level credit risks. Authored by a credit expert with two decades of experience in corporate finance and corporate credit risk, the book discusses the macroeconomic, industry and financial analysis for the study of credit risk. It covers credit risk grading and explains concepts including PD, EAD and LGD. It also highlights the distinction with equity risks and touches on credit risk pricing and the importance of credit risk in Basel Accords I, II and III. The two most common credit risks, project finance credit risk and working capital credit risk, are covered in detail with illustrations. The role of diversification and credit derivatives in credit portfolio management is considered. It also reflects on how the credit crisis develops in an economy by referring to the bubble formation. The book links with the 2008/2009 credit crisis and carries out an interesting discussion on how the credit crisis may have been avoided by following the fundamentals or principles of credit risk analysis and management. The book is essential for both lenders and borrowers. Containing case studies adapted from real life examples and exercises, this important text is practical, topical and challenging. It is useful for a wide spectrum of academics and practitioners in credit risk and anyone interested in commercial and corporate credit and related products.

Credit analysis. a complete guide

Author : Roger H. Hale
Publisher :
ISBN 13 :
Total Pages : 302 pages
Book Rating : 4.:/5 (463 download)

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Book Synopsis Credit analysis. a complete guide by : Roger H. Hale

Download or read book Credit analysis. a complete guide written by Roger H. Hale and published by . This book was released on 1983 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Handbook of Key Global Financial Markets, Institutions, and Infrastructure

Author : Gerard Caprio
Publisher : Academic Press
ISBN 13 : 0123978734
Total Pages : 635 pages
Book Rating : 4.1/5 (239 download)

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Book Synopsis Handbook of Key Global Financial Markets, Institutions, and Infrastructure by : Gerard Caprio

Download or read book Handbook of Key Global Financial Markets, Institutions, and Infrastructure written by Gerard Caprio and published by Academic Press. This book was released on 2012-11-27 with total page 635 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title begins its description of how we created a financially-intergrated world by first examining the history of financial globalization, from Roman practices and Ottoman finance to Chinese standards, the beginnings of corporate practices, and the advent of efforts to safeguard financial stability.

Financial Modeling and Valuation

Author : Paul Pignataro
Publisher : John Wiley & Sons
ISBN 13 : 1118558766
Total Pages : 432 pages
Book Rating : 4.1/5 (185 download)

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Book Synopsis Financial Modeling and Valuation by : Paul Pignataro

Download or read book Financial Modeling and Valuation written by Paul Pignataro and published by John Wiley & Sons. This book was released on 2013-07-10 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written by the Founder and CEO of the prestigious New York School of Finance, this book schools you in the fundamental tools for accurately assessing the soundness of a stock investment. Built around a full-length case study of Wal-Mart, it shows you how to perform an in-depth analysis of that company's financial standing, walking you through all the steps of developing a sophisticated financial model as done by professional Wall Street analysts. You will construct a full scale financial model and valuation step-by-step as you page through the book. When we ran this analysis in January of 2012, we estimated the stock was undervalued. Since the first run of the analysis, the stock has increased 35 percent. Re-evaluating Wal-Mart 9months later, we will step through the techniques utilized by Wall Street analysts to build models on and properly value business entities. Step-by-step financial modeling - taught using downloadable Wall Street models, you will construct the model step by step as you page through the book. Hot keys and explicit Excel instructions aid even the novice excel modeler. Model built complete with Income Statement, Cash Flow Statement, Balance Sheet, Balance Sheet Balancing Techniques, Depreciation Schedule (complete with accelerating depreciation and deferring taxes), working capital schedule, debt schedule, handling circular references, and automatic debt pay downs. Illustrative concepts including detailing model flows help aid in conceptual understanding. Concepts are reiterated and honed, perfect for a novice yet detailed enough for a professional. Model built direct from Wal-Mart public filings, searching through notes, performing research, and illustrating techniques to formulate projections. Includes in-depth coverage of valuation techniques commonly used by Wall Street professionals. Illustrative comparable company analyses - built the right way, direct from historical financials, calculating LTM (Last Twelve Month) data, calendarization, and properly smoothing EBITDA and Net Income. Precedent transactions analysis - detailing how to extract proper metrics from relevant proxy statements Discounted cash flow analysis - simplifying and illustrating how a DCF is utilized, how unlevered free cash flow is derived, and the meaning of weighted average cost of capital (WACC) Step-by-step we will come up with a valuation on Wal-Mart Chapter end questions, practice models, additional case studies and common interview questions (found in the companion website) help solidify the techniques honed in the book; ideal for universities or business students looking to break into the investment banking field.

The Handbook of Global Shadow Banking, Volume I

Author : Luc Nijs
Publisher : Springer Nature
ISBN 13 : 3030347435
Total Pages : 822 pages
Book Rating : 4.0/5 (33 download)

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Book Synopsis The Handbook of Global Shadow Banking, Volume I by : Luc Nijs

Download or read book The Handbook of Global Shadow Banking, Volume I written by Luc Nijs and published by Springer Nature. This book was released on 2020-06-30 with total page 822 pages. Available in PDF, EPUB and Kindle. Book excerpt: This global handbook provides an up-to-date and comprehensive overview of shadow banking, or market-based finance as it has been recently coined. Engaging in financial intermediary services outside of normal regulatory parameters, the shadow banking sector was arguably a critical factor in causing the 2007-2009 financial crisis. This volume focuses specifically on shadow banking activities, risk, policy and regulatory issues. It evaluates the nexus between policy design and regulatory output around the world, paying attention to the concept of risk in all its dimensions—the legal, financial, market, economic and monetary perspectives. Particular attention is given to spillover risk, contagion risk and systemic risk and their positioning and relevance in shadow banking activities. Newly introduced and incoming policies are evaluated in detail, as well as how risk is managed, observed and assessed, and how new regulation can potentially create new sources of risk. Volume I concludes with analysis of what will and still needs to happen in the event of another crisis. Proposing innovative suggestions for improvement, including a novel Pigovian tax to tame financial and systemic risks, this handbook is a must-read for professionals and policy-makers within the banking sector, as well as those researching economics and finance.

A Pragmatist’s Guide to Leveraged Finance

Author : Robert S. Kricheff
Publisher : Harriman House Limited
ISBN 13 : 0857198505
Total Pages : 238 pages
Book Rating : 4.8/5 (571 download)

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Book Synopsis A Pragmatist’s Guide to Leveraged Finance by : Robert S. Kricheff

Download or read book A Pragmatist’s Guide to Leveraged Finance written by Robert S. Kricheff and published by Harriman House Limited. This book was released on 2021-05-25 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: The high-yield leveraged bond and loan market is now valued at $4+ trillion in North America, Europe, and emerging markets. What’s more the market is in a period of significant growth. To successfully issue, evaluate, and invest in high-yield debt, financial professionals need credit and bond analysis skills specific to these instruments. This fully revised and updated edition of A Pragmatist’s Guide to Leveraged Finance is a complete, practical, and expert tutorial and reference book covering all facets of modern leveraged finance analysis. Long-time professional in the field, Bob Kricheff, explains why conventional analysis techniques are inadequate for leveraged instruments, clearly defines the unique challenges sellers and buyers face, walks step-by-step through deriving essential data for pricing and decision-making, and demonstrates how to apply it. Using practical examples, sample documents, Excel worksheets, and graphs, Kricheff covers all this, and much more: yields, spreads, and total return; ratio analysis of liquidity and asset value; business trend analysis; modeling and scenarios; potential interest rate impacts; evaluating leveraged finance covenants; how to assess equity (and why it matters); investing on news and events; early-stage credit; bankruptcy analysis and creating accurate credit snapshots. This second edition includes new sections on fallen angels, environmental, social and governance (ESG) investment considerations, interaction with portfolio managers, CLOs, new issues, and data science. A Pragmatist’s Guide to Leveraged Finance is an indispensable resource for all investment and underwriting professionals, money managers, consultants, accountants, advisors, and lawyers working in leveraged finance. It also teaches credit analysis skills that will be valuable in analyzing a wide variety of higher-risk investments, including growth stocks.