Category: EL tools

Daniel’s Dolphin and PACED Daniel’s Dolphin and recovery? Half-filled glass – Half full or half empty? For the same set

Using your own money to finance the business Return on Equity (ROE) Step 1 : Financial Leverage Step 2 :

Time changes everything A way to think about assessing B/S items Validity, Valuation, Liquidity applied to AR Validity, Valuation, Liquidity

EBITDA is NOT cash flow PD Analysis: EBITDA =/= CASHFLOW Adjustments to Financial Statements Moody’s adjustments to financial statements **

What is Enterprise Value Equity Value Equity Value = Enterprise Value – Net Debt Gross Debt vs Net Debt Absence

Moody’s PACED: Cash Flow Drivers Key Drivers Primary Ratios Secondary Ratios Profitability – Volume of Sales – Sales price –

CREDIT/ CASHFLOW Golden Rule: Credit analysis comes first before any discussions. No fish-market bargaining. All must be backed by Credit

Rating Scale Comparison Counterparty Risk Rating Scale Rating Models Process of Building Rating Models from Data Preparation to Model Validation

You never know until you look at the facts, thus you need to access the validity yourself. Goes straight to

Difference between Commercial Banking for SME and Corporate Banking for large corp One often misused argument that the bankers from