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The updated

Credit Analyst Course

Micro-Degree

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With credit playing a key role in recent levered acquisitions, now is the time to get clued up on debt.

In this credit analyst training, ex-J.P. Morgan investment banker, Chris Cordone, will teach you everything you need to know to succeed at credit analysis.

Buy 2, Get 40% Off!
Use coupon 2MD4LESS - see courses

£679 (Inc Tax)

Add to Cart

30-Day Money-Back Guarantee T&C apply

3000+ students enrolled

Hours

Topics

198

Practical exercises

Direct instructor help

Micro-Degree

Lifetime access

Rated 4.3 From
1229 Reviews

With credit playing a key role in recent levered acquisitions, now is the time to get clued up on debt.

In this credit analyst training, ex-J.P. Morgan investment banker, Chris Cordone, will teach you everything you need to know to succeed at credit analysis.

Buy 2, Get 40% Off!
Use coupon 2MD4LESS - see courses

£679 (Inc Tax)

Add to Cart

30-Day Money-Back Guarantee T&C apply

3000+ students enrolled

The Credit Analyst Course includes

Credit Analysis for Lenders

3.8 STARS

About

Build a comprehensive understanding of the credit process undertaken by the lenders of a loan. Examine the different risks involved against the loan, the tools used to mitigate these risks, and how to analyze a borrower’s ability to meet future obligations. The knowledge and skills developed can be applied directly to any credit analyst role.

Completion time

4 Hours

Level

Skills Certificate

About

Completion time

4 Hours

Level

Skills Certificate

Module

Video Minutes

Excel Exercises

Credit Risk

Video minutes17

Excel Exercises0

How banks make money
The credit perspective
How bad loans affect banks
Intro to the credit process
The 5 Cs of credit
Quantifying credit risk
Default risk
Loss given default risk

Controlling Credit Risk

Video minutes39

Excel Exercises3

The components of the credit memo
Determining the risk in lending for various purposes
Using pricing and fees to mitigate risk and drive the bank’s return
The role of covenants in monitoring the loan
How banks minimize risk by selling off pieces of the loan
Using seniority, security, collateral and guarantees to protect the loan
How banks minimize risk by selling off pieces of the loan

Business Credit Risk

Video minutes10

Excel Exercises0

Understanding business risk (macro, industry, and company)
A closer look at company risk
Management risk
Estimating business risk

Financial Risk

Video minutes48

Excel Exercises4

Determining on and off-balance sheet obligations
Assessing the quality and efficiency of a company’s assets
How to calculate EBIT and EBITDA for credit analysis
How OWC can impact a company’s cash flow
Assessing cash flow adequacy
Measuring a companies ability to withstand fluctuations
Liquidity definition and calculations

Debt Capacity

Video minutes36

Excel Exercises6

Determining how much room a company has to borrow additional funds
Analyzing a company’s cash flow to determine borrowing capacity
Using base case, upside, and downside scenarios to determine debt capacity
Using cash flow analysis to determine the timings of a loan repayment
Extending debt capacity using cash flows from later years in the forecast
Modeling credit scenarios

Credit Analysis Case in Point

Video minutes37

Excel Exercises5

-Business Risk – Using descriptive materials provided, simulated 10-k snippets, press releases, etc
Financial Risk (current financial position, quality of earnings, cash flow, liquidity)
Discussion of Smithy’s corporate structure and structural subordination issues
Debt Capacity (cash flow forecasts, debt service coverage ratio DSCR, building scenarios)

13 Week Cash Flow Modeling and Analysis

4.3 STARS

About

Learn how to identify scenarios where companies can get into cash flow trouble and build a 13-week cash flow model for a real company that filed for bankruptcy.

Completion time

1 Hour

Level

Skills Certificate

About

Learn how to identify scenarios where companies can get into cash flow trouble and build a 13-week cash flow model for a real company that filed for bankruptcy.

Completion time

1 Hour

Level

Skills Certificate

Module

Video Minutes

Excel Exercises

13 Week Cash Flow Modeling Scenarios

Video minutes62

Excel Exercises3

Use examples from real world cases to demonstrate the purpose of a 13-week cash flow (True Apparel Inc. and/or Shiloh Industries)
Analysis of current trends in case company (identifying areas of weakness, sources of immediate liquidity/cost savings and more)
Ramifications of distress (covenants, restructuring, bankruptcy and more)

Building a 13 Week Cash Flow Model

127

Video minutes127

Excel Exercises14

Breaking down operating and non-operating expenses
Deep dive on OWC, including the cash flows within AR, AP and Inventory
Forecasting non-operating revenues expenses (assets sales, etc.)
Adding interest and debt service
Determining borrowing need/repayment ability
Reconciling cash flows to EBITDA and more!

Distressed Debt Restructuring

4.3 STARS

About

Discover the process of restructuring debt and valuing a company on the brink of bankruptcy.

Completion time

1 Hour

Level

Skills Certificate

About

Discover the process of restructuring debt and valuing a company on the brink of bankruptcy.

Completion time

1 Hour

Level

Skills Certificate

Module

Video Minutes

Excel Exercises

Distressed Debt Restructuring

Video minutes57

Excel Exercises6

Industry and company analysis
Using cash flows to determine debt capacity
Approaches to a fire sale valuation
Liquidating assets
Senior versus junior debt
First lien vs second lien debt

The Accountant

4.4 STARS

About

Quickly and confidently interpret financial data and statements, evaluate them and use the calculated information to build high-quality reports. Real company data and the latest rules are covered to ensure the methods used and skills developed are immediately applicable in the workplace.

Completion time

13 Hours

Level

Skills Certificate

About

Completion time

13 Hours

Level

Skills Certificate

Module

Video Minutes

Excel Exercises

Financial Accounting Review

Video minutes33

Excel Exercises3

Making entries and ensuring the balance sheet balances
Preparing a balance sheet
Preparing an income statement from the entries to retained earnings
Preparing a cash flow statement from the entries to the cash account
A review of the different categorizations on the income statement, balance sheet, and the cash flow statement

Income Statements

Video minutes61

Excel Exercises15

Revenue recognition issues
Cost recognition issues
Identifying non-recurring items from the income statement, the MD&A, the notes to the accounts and the financial statement press release
Calculating EBIT and EBITDA for the historical year, and on an LTM basis

Earnings Per Share

Video minutes27

Excel Exercises11

Basic EPS calculations including weighted average shares
Dilutive securities: options (treasury method) and convertibles (as if converted)
Calculating recurring EPS

Working Capital

Video minutes56

Excel Exercises12

Inventory accounting including the impact on EBIT of LIFO and FIFO accounting choices (where relevant)
Accounts receivable and bad debts (identifying when companies are manipulating sales)
Accounts payable and accruals and the difference between them from a due diligence perspective
Other items including taxes payable, deferred revenue, and pre-paid items
Working capital and operating working capital and the cash impact of changes in operating working capital
Credit implications of working capital movements
Day ratios

Non-Current Assets

Video minutes39

Excel Exercises11

Gross PP&E, accumulated depreciation, depreciation expense and net PP&E
Building a simple forecast of fixed assets
Establishing the age of a company’s fixed asset base
Finite, and infinite intangibles including goodwill
A review of key methods of accounting for financial investments
At fair value through the income statement
Available for sale
Associate (equity method) accounting

Capital Structure

Video minutes50

Excel Exercises14

Debt issues and repurchases
Simple yield to maturity and all in cost calculations and understanding Original Issuer Discounts
Calculating net debt
Equity issuance and repurchases
The difference between authorized, issued and outstanding shares and multiple share classes
Other capital items: preference shares and convertible bonds
Leverage ratios
Debt liability maturity analysis

Accounting Ratios

Video minutes41

Excel Exercises5

Profitability ratios, including margins
Liquidity ratios, including operating working capital
EBIT and EBITDA for the historical year, and on an LTM basis
Leverage ratios, including net debt and interest coverage
Asset ratios

Cash Flow Statements

Video minutes25

Excel Exercises3

Understanding how to categorize cash flows between operating, investing, and financing
Deriving a cash flow statement from two balance sheets and an income statement
Deriving a balance sheet from a cash flow statement and an income statement
Different cash flow statement presentations

Equity Method Investments

Video minutes9

Excel Exercises5

What are equity method investments?
- Equity affiliates/associates
- Joint ventures
Equity method accounting
- Income statement
- Balance sheet
- Cash flow statement
- Financial statement integration

Intro to Full Consolidation

Video minutes68

Excel Exercises21

M&A accounting overview
Balance sheet consolidation
Sources and uses of funds
Goodwill calculation
Income statement consolidation
Non controlling interests – NCI

The Modeler

4.6 STARS

About

Financial modeling is one of the most useful skills in the world of finance. Knowing how to build models quickly and error-free is critical for the decisions and recommendations that they underpin. Our online financial modeling course provides the perfect introduction to building models, developing multiple techniques for a comprehensive and practical understanding of the topic.

Completion time

12 Hours

Level

Skills Certificate

About

Completion time

12 Hours

Level

Skills Certificate

Module

Video Minutes

Excel Exercises

Introduction to Modeling

Video minutes55

Excel Exercises13

Key settings
Formatting and layout standards
Building a simple income statement and balance sheet model, on one sheet, then across sheets
Balancing the balance sheet using the cash flow statement
Preparing the model for handover
Key formatting and putting the output into a pitch book

Three Statement Modeling with Iterations

Video minutes77

Excel Exercises10

Income statement construction and highlighting key numbers
Calculation schedules (PP&E, retained earnings, operating working capital, and debt)
Balancing the balance sheet with a cash sweep
Calculating interest using average balances
Circular references and iterations
Working with a circular reference switch
Preparing the model for handover
Key formatting and putting the output into a pitch book

Three Statement Model Editing

Video minutes44

Excel Exercises6

Steps before editing
Inserting a new item
Removing an old item
After editing
Relevant keyboard shortcut keys

Three Statement Model With Estimates

Video minutes70

Excel Exercises12

Cleaning up the income statement and balance sheet and simplifying the line items
Getting estimates for revenues and EBIT
Building multiple scenarios into a model’s assumption
Modeling a forecast debt repayment schedule from the notes
Key ratios
Checking the model for reasonableness
Formatting and putting the output into a pitch book

Building a Model with Cash Sweep

Video minutes71

Excel Exercises19

Why banks want to be repaid early
Cash sweep mechanisms
How to model cash sweeps
Building a three statement model with a cash sweep

Checking a Model for Integrity and Errors

Video minutes36

Excel Exercises11

Top ten errors
Auditing and error checking toolkit
Checking your own model
Checking someone else’s model

Get Certification Recognized by Wall Street and Beyond

UPGRADE YOUR RÉSUMÉ WITH CERTIFICATION RECOGNIZED BY THE TOP 4 INVESTMENT BANKS.

The Credit Analyst is made up of 5 online skill certificate courses. Pass all 5 compulsory courses to unlock your micro-degree. Certification can easily be added to LinkedIn, demonstrating your achievement which will be recognized on Wall Street and beyond.

Certification Discover our prestigious alumni on LinkedIn

Our Alumni

DEMONSTRATE YOU'RE AS GOOD AS THE BEST

By completing this credit analyst course, you will be able to join our prestigious alumni on LinkedIn alongside hires at the top 4 investment banks. After becoming a member of this elite community, you can unlock exclusive benefits such as course discounts and more.

Explore our Alumni

Authored by Industry Experts

Meet Chris Cordone, the voice of The Credit Analyst

Chris has over twenty years of experience teaching professionals at major investment banking, boutique, and private equity firms. Chris began his career as an investment banking analyst and associate at J.P. Morgan, specializing in high yield and acquisition finance including LBOs.

THIS MICRO-DEGREE HAS BEEN REVIEWED BY

Colin Evans

Managing Director at J.P. Morgan

Colin Evans is a Managing Director at J.P. Morgan and leads the financial institutions coverage team globally for Corporate Banking

Dr. Bridget Lyons

Professor of Finance

Professor of Finance at the Jack Welch College of Business at Sacred Heart University and Associate Instructor

Chris Bishko

CFO

CFO with over 25 years experience as an operator, investor and investment banker in technology and financial services.

Frequently Asked Questions

What tech do I need?

Access your course across desktop, laptop, tablet or phone; either via our web portal or the dedicated mobile app. While we have optimized our video quality and size, we recommend a broadband connection to enable uninterrupted video playback. A PDF reader and spreadsheet application are required to open the supporting resources.

Is the the credit analyst right for me?

This online program reflects the training new analysts receive at the leading banks. It’s designed for analysts working in credit, as well as those in private equity and sponsor advisory groups who will benefit from this insider’s approach to credit and leveraged credit analysis.

Are Financial Edge's courses credible?

The 4 leading investment banks, as rated by the FT, hire us to train their incoming analysts. If you are looking to join the best analysts in the world, why not challenge yourself with the same content and certification with the same Wall Street instructors ready to answer your questions.

How long do I have to complete the the credit analyst course?

We are delighted to announce that we now offer lifetime access on all online courses! Fit studying around your schedule. Learn at your own pace with on-demand video, practical examples to download and expert instructor support.

Are there any hidden costs?

No. Everything you need to earn your micro-degree is included, from instructor-led videos and Excel exercises to the exam.

What is CPD?

All Financial Edge online courses are CPD accredited. CPD stands for Continuing Professional Development and makes demonstrating your commitment to learning easy. Your institution or accrediting body may track CDP points through activities, units or hours. Check with the relevant party to find out how you should be monitoring your progress.

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