Analysts constantly evaluate an issuer’s ability to repay interest and principal on bond issues. Any major event or news announcement can - and does - affect a company’s debt, causing analysts to review, and often reissue, their assigned ratings. From institutional investors to individuals holding corporate bonds, credit analysis plays a key role in how fixed income securities are rated and, consequently, how they fit into portfolios. Researching and evaluating the underlying variables is essential to proper credit analysis. Yet, few sources provide the in-depth guidance needed to perform this evaluation skillfully and successfully. In Fundamentals of Corporate Credit Analysis, Standard & Poor’s’ Blaise Ganguin puts together in one place a complete guide to properly analyzing credit. From the basics of credit analysis to the elements of asset-based lending, Fundamentals of Corporate Credit Analysis is a comprehensive reference for any professional who deals with credit analysis, whether an analyst or an investor. Ganguin, director of corporate and government financial services at S&P, distills the key information of credit analysis in an easily-understood format. Based largely on workshops and courses he provides through S&P, Fundamentals of Corporate Credit Analysis covers those topics integral to determining credit worthiness. Perfect for institutions, analysts, government agencies, banks, and others, this handy reference covers the latest research in the field. Often viewed as a collection of multi-disciplinary recipes, the qualitative aspects of credit analysis often elude those focused on quantitative aspects. Ganguin looks at both qualitative and quantitative tools and techniques involved with credit analysis. Practical and authoritative, Fundamentals of Corporate Credit Analysis provides readers with: * a practical analytical framework for credit analysis * an economic and regulatory framework to credit risk * analytical tools and techniques Ganguin provides in-depth explanation on the very topics that financial professionals must understand in order to properly evaluate and analyze credit. From liquidity risk to derivatives risk to legal issues, Fundamentals of Corporate Credit Analysis is a thorough guide that helps analysts dig beneath the standard ratings to properly evaluate all types of credit risk.
