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Problem Credits: Early Warning Signs and Restructuring 28-29/2/2024
Problem Credits: Early Warning Signs and Restructuring
Training Activity Rate
Trainer/s
مروه همام
Training activity Hours
16
Training activity Date
-
Training Activity Days
Wednesday
Thursday
Start and End Time
9:00 - 17:00
Training Activity Classification
Workshops and Conferences
Course Language
English
Methodology
In class
City
Amman
Type of Training
workshop
Deadline for registration
Price For Jordanian
1065 JOD
Price For Non Jordanian
1500 US$
Outcomes

BY THE END OF THIS COURSE, YOU 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.

Target Group

» Bankers.
» Bondholders.
» Underwriters.
» Private placement investors.
» Credit analysts.
» Bond researchers (both buy and sell sides).
» Corporate treasurers.
» Correspondent banking officers.
» Relationship managers.

Contents

» 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 might one 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, collater al 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.

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