Risk Analysis for Fixed Income Investors

Course review:

Applying a focused and structured approach to credit assessment that can be used across asset classes and sectors, to enable astute investment decisions to be made and supported in context of challenging and changing market conditions.

Specifically, the aim of the training is to equip participants to:

• Understand how credit fundamentals can drive relative value
• Appreciate how current market conditions have impacted volumes, pricing and trading and the implication for potential upside and downside
• Identify factors that might change a company's credit standing, and thus the value of the underlying security, by anticipating upward and downward credit migration
• Understand and evaluate the performance of a company based on a qualitative approach, backed by appropriate quantitative analysis (using ratios and cash-flow tools) to support an investment decision
• Anticipate a company’s future performance and credit outlook using a cash-flow approach to assess adequate liquidity and determine ability to service / refinance its debt as it comes due
• Understand the structure of a debt issue in order to assess the risks and protections in the structure.