Corporate Credit Analysis: Forecasting, Formulation and Analysis

Credit analysis fails when it describes a borrower rather than deciding about one. Ratios are calculated, a rating is produced, and nothing in the paper says what would change the answer. The useful version carries a forecast with the two or three assumptions the credit actually depends on, a view on whether cash will service the debt through a downturn, and a structure that leaves the lender a position if it does not. This week works through the statements, the forecast, the structure and the credit paper itself, on real borrowers.

It runs 7 times over the published calendar, in 6 cities and live online. Every date is the same programme with the same content and the same certificate.

• Rebuild a borrower's statements onto a comparable basis before analysing them.
• Forecast cash available for debt service, and identify what the forecast depends on.
• Assess a borrower's position in its industry rather than in isolation.
• Structure a facility so the lender has a position if the forecast fails.
• Write a credit paper that states a decision and the conditions attached to it.

Credit analysts and relationship managers in banks and finance houses, credit committee members, and treasury and finance staff assessing counterparties.

Short input, then work. Across 5 days of roughly 6 teaching hours each, the balance sits deliberately with the second: a programme where the trainer talks for six hours produces notes rather than capability.

• Your own material

  Exercises run on situations delegates bring, not on a case study written for a different organisation in a different decade.

• A capped cohort

  Small enough that everybody is asked something. Executive programmes are capped tighter still.

• Practice under scrutiny

  The difficult conversation, the challenged assumption, the decision defended out loud. Judgement is not built by watching.

• Something to take back

  Each day ends with a thing you can use on Monday rather than a slide deck you will not reopen.

• A reworked financial analysis of one real borrower.
• A debt service forecast with the sensitivities that break it identified.
• A credit paper and proposed structure, with covenants tied to the risks found.

A GATI certificate recording what you attended, issued after the programme has run and attendance has been taken. Attending at least 80 per cent of the days earns a certificate of completion; attending less earns a certificate of attendance stating exactly what was attended.

Every certificate carries a code that anybody can check against GATI's own record, which is what makes it worth holding. It records participation. This site will not imply one it does not have.