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Fordham - Commercial Credit & Banking

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Spring 2019 Course Outline -  Lectures , Assignments and Exams

This course is designed in 3 parts:

1.      Review the fundamentals of financial analysis including historical performance and pier analysis – Excel approach

2.      Provide the tools for building projections – both bottoms up and top down approach

3.      Build the Debt and Equity Case including concepts of Debt Capacity, Enterprise Value and equity return expectation. 

In addition, the course will touch on technical analysis for measuring credit risk, quantitative approach for default risk and recovery.


Syllabus Spring 2019

Students that want to drop their files for the Professor please use the inbox below. Please note that you need to write your name inside the body of the file and then upload it on dropbox.

Professor's Fordham INBOX

 

6:30pm - 9:30pm Room:  

Keating Hall 204
 
 OFFICE HOURS: THU 4:00-5:00pm Hughes - 5th Floor 

Jan 17

Jan 24

Jan 31
 

Feb 7

Feb 14

Feb 21

Feb 28

Mar 7

Mar 14

Mar 21 

Mar 28

Apr 4

Apr 11

Apr 18 

Apr 25 

May 2 

May 9
Computer Lab Keating Hall #317
7:30pm -9:30pm

 

                     

N

O

 

C

L

A

S

S

     

N

O

 

C

L

A

S

S

 

N

O

 

C

L

A

S

S

 
 

Assigned Chapters

Fundamentals of Corporate Credit Analysis - Blaise Ganguin and John Bilardello

Link to Amazon

1-4

5

   

7

   

6

 

8

Case Studies:
Yell Group Ltd. LBO
 

9

10-11

 
 

Assigned Lectures

#2

Intro to Credit 

Lecture #1

#2

Intro to Cash Flow Analysis - Risk Analysis 

Lecture #2

#3

Transaction Sources & Uses & WACC Concepts 

Lecture #3

#3a

Proforma Balance Sheet 

#4

Equity Expectation, Loan Rquirments and Regulation

#5
Bond and Loan Markets (A case of market risk (2008) in syndication)

Lecture #5

US Loan Syndication Powerpoint Presentation

Midterm Exam Review

 

 

#6

Setting-up Projections Analysis

Debt Capacity Analysis 

Lecture #6

#7 
Credit Analysis Overview

Lecture #7

Credit Analysis Power Point Presentation

#8 

Mergers & Acquisition and LBO

Lecture #8

LBO Powerpoint Presentation

#9
LBO Analysis
Public to Private 

Case Studies:
AK Steel
Yell Group 

M&A Valuation Presentation

#10 Alternative Investments (CLOs & CDO's)

Lecture #10

CLO & CDO Structure Presentation

#11

Measuring Credit Risk & Pricing

Lectrure #11

Final Exam Review

 

 
 

Assigned Spreadsheets

 

Celerty Technology Financial Analysis

Transaction Sources & Uses

Case 1: Mid-Cap LBO - Equity Return Analysis, WACC, CAPM and IRR

Completed Financial Model - Colorado Dental

 

Transaction Sources & Uses and WACC - BLANK WORKSHEET

Proforma Balance Sheet - BLANK WORKSHEET

Debt Schedule - BLANK WORKSHEET

Partial Income Statement Projections - BLANK WORKSHEET

 

Revenue Assumpions

Celerity Technology Projections Analysis

Celerity Technology Debt Capacity

 

LBO Financial Model

AK Steel Analysis

Yell Group Ltd. LBO

LBO Financial Model Blank

Public to Private LBO Q&D Model

CLO Structure

 
 

EXAMS

           

MidTerm


   

Credit Analysis & Debt Capacity

     

Final Exam
7:30pm-9:30pm 

Final Exam Template Updated

 

Homework Assignments

   

Due #1

CF Excel Homework

 

Due #2

Homework Link

         

Due #3

Expo Hotel Corporation

Excel Blank Model Link

Due #4

Homework Link

Public to Private LBO Q&D Model

Intercontinental Hotel Website Link

 

Due #5

Homework Link

 
 

Reading Assignments

 

CDroussiotis Text Book Chapter 15 Excerpt

 

Leveraged Lending Guidance by the Fed on Highly Leveraged Transactions

 

Colorado Dental LBO Case Study

 

CDroussiotis Text Book Chapter 16 Excerpt

 

CDroussiotis Text Book Chapter 18 Extract

AK Steel Annual Report

Ak Steel Financial Information

AK Steel 10K

Yahoo Finance -AK Steel

December 11 Seeking Alpha Report

NASDAQ Report on AK Steel

Article Takeover speculation

LBO CASE STUDY: Colorado Dental

     
 

Project Assigments

                         

Project is Due

May 10 at midnight

Assigned Companies

Project Description

Problem Sheet

midterm Worksheet

midterm worksheet

DER Midterm Exam Answers 2019

DER Final Exam