Category: Credit Modeling and Underwriting (Buy Side and Sell Side) for US based companies
Objective: Develop standardized Excel templates that reflect institutional credit analysis, underwriting, and monitoring practice.
Scope: Credit spread curve construction and resetting (bootstrapping, interpolation, compounding conventions), free cash flow to debt coverage and liquidity bridge mechanics, capital structure mapping and pro forma leverage, covenant forecasting with headroom and step-down logic, recovery and downside scenario modeling, and sponsor leverage structures across HoldCo and OpCo layers. Models should support common instruments (revolvers, term loans, unitranche, and PIK features) with robust debt schedules (amortization, optional prepayments, fees, call protection, and revolver availability).
Deliverables: Assumptions-driven workbooks with clear separation of inputs, mechanics, and outputs; scenario toggles and sensitivity grids; and audit controls (reconciliation tests, cash and debt roll-forwards, covenant test checks, and reasonableness flags). Outputs should include leverage, coverage, liquidity runway, covenant headroom, and financing economics consistent with credit committee expectations.
Standards: Transparent formulas, consistent layout, and a concise methodology note documenting definitions and market conventions.
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