TY - BOOK AU - Gatto, Michael A AU - Carr, Ellen TI - The Credit investor's handbook: leveraged loans, high yield bonds, and distressed debt SN - 9781394196050 U1 - 332.6 PY - 2024/// CY - New Jersey PB - John Wiley & Sons KW - Investments KW - credit N1 - Wiley Finance Series; includes appendix, index, graphs and tables; Preface: my story Introduction: structure of the book Part one. Building blocks of the leveraged credit markets Description and history of the leveraged finance markets Credit cycles A primer on leveraged credit trading terminology A primer on leveraged buyouts (LBOs) Part two. The seven-step process of evaluating a debt investment Step 1 of the credit analysis process: sources and uses Step 2 of the credit analysis process: qualitative analysis Step 3(a) of the credit analysis process: financial statement analysis profitability Step 3(b) of the credit analysis process: financial statement analysis cash flow and liquidity Step 3(c) of the credit analysis process: financial statement analysis capital structure Step 4 of the credit analysis process: forecasting Step 5 of the credit analysis process: corporate valuation Step 6 of the credit analysis process: structuring and documentation Step 7 of the credit analysis process: preparing an investment recommendation and credit committee memo Part three. Distressed debt investing Introduction to distressed debt investing Bankruptcy 101 Bankruptcy fights How subordination works in bankruptcy Liability management and creditor-on-creditor violence Making money in distressed situations My closing comment Appendix. The Quinn case study N2 - The Credit Investor's Handbook: Leveraged Loans, High Yield Bonds, and Distressed Debt is the definitive guide for young investment professionals embarking on a career investing in the leveraged credit markets - whether public, private, performing, or distressed. Experienced professionals will also immensely benefit from this guide as they refine their investment skills. Michael Gatto has twenty-five years of investing experience in the debt markets at Silver Point Capital (a $20 billion credit-focused fund) and Goldman Sachs' Special Situations Group. Furthermore, he is an adjunct professor at Columbia Business School and Fordham University's Gabelli School of Business. Michael brings these experiences together in this comprehensive manual, teaching the skills to succeed in the dynamic and complex credit markets. Michael brings highly complex case studies to life using decades of his first-hand war stories and combines them with reflections from leading industry professionals, often infused with humor, to make the book accessible, readable, and fun. Michael's seven-step credit analysis process will prepare you for a career in credit investing at the top buy-side and sell-side firms on Wall Street by teaching you the technical skills needed to invest in the debt markets. Whether you are analyzing a loan origination in the private debt market, a new issue of a broadly syndicated loan (BSL), a high-yield bond (HY), or a secondary trade, the comprehensive knowledge gained from this book will equip you to make well-founded investment recommendations. Additionally, an entire section devoted to distressed debt investing incorporates a practitioner's perspective on the nuances of bankruptcy and restructurings to develop strategies to profit from opportunities in this opaque market. In clear, straightforward terms accessible to the layperson, Michael explains strategies pursued by distressed companies such as J. Crew and Serta that have led to creditor-on-creditor violence, giving you an insider's perspective on some of the least understood transactions in the distressed arena ER -