معهد الدراسات المصرفية

المملكة الأردنية الهاشمية

Problem Credits: Corporate Bankers Edition (Early Warning Signals & Restructuring)


المحاضر تاريخ البداية تاريخ النهاية توقيت البداية توقيت النهاية مكان الانعقاد عدد الساعات سجّل الآن
Sylvia Swift
2020-08-25 2020-08-27 10:00 16:00 On-line Training 15
سجّل الآن

(Objectives / الأهداف)

:

By the end of this Seminar, the Participant will be able to :

- Recognize how credits behave through an economic/sector cycle.
- Recognize deterioration of credit quality early enough for efficient response.
- Identify creative accounting and understand a company’s true financial performance.
- Assess a company’s liquidity position and the factors that may cause it to deteriorate.
- Understand the role of covenants and collateral and their ability to improve recovery rates for lenders.
- Create an effective plan of action to address troubled situations and maximize recovery.


(Contents / المحتويات)

:

- Financial distress and the credit cycle:

- The costs of problem credits

- Stages of the credit cycle

- The cash crisis timeline

- Early warning signs (‘EWS’) of financial distress:

- Leading versus lagging indicators.

- What is an LBO and why they might get into trouble?

- Business and operational EWS.

- Management EWS.

- Market EWS.

- Accounting EWS.

- Complex corporate structures.

- Cash flow and liquidity:

- Cyclicality and credit.

- Analyzing cash flow.

- The importance of liquidity.

- Moody’s approach to analyzing liquidity.

- Covenants, collateral and structure:

- Drivers of covenant strength.

- Covenant-lite and covenant-loose.

- The convergence of bond and bank covenants.

- Analyzing covenant weaknesses.

- Restricted groups and the credit implications.

- An action plan for covenant breaches.

- Collateral strengths and weaknesses.

- Valuing collateral and why it could go wrong.

- An overview of structure risk.

- Analyzing guarantees.

 - Restructuring:

- Identifying the cause of the problem.

- Phases of a restructuring.

- The basic rules of restructurings and why it does not always work out as planned.

- Building a restructuring plan.

- Identifying the key stakeholders.

- Short-term actions.

- The long-term plan.

- What can go wrong in the restructuring process.



(Participants / المشاركون)

:

- Bankers.
- Bondholders.
- Underwriters.
- Private placement investors.
- Credit analysts.

- Bond researchers (both buy and sell sides).
- Corporate treasurers.
- Correspondent banking officers.
- Relationship managers.