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A Pragmatist's Guide to Leveraged Finance: Credit Analysis for Bonds and Bank Debt

Penned By Robert S. Kricheff
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A Pragmatist's Guide to Leveraged Finance: Credit Analysis for Bonds and Bank Debt

Penned By Robert S. Kricheff
4.85 70,486 Ratings
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Editor's Note:
The high-yield leveraged bond and loan market ("junk bonds") is now valued at $3+ trillion in North America, 1 trillion in Europe, and another $1 trillion in emerging markets. What's more, based on the maturity schedules of current debt, it's poised for massive growth. To successfully issue, evaluate, and invest in high-yield debt, however, financial professionals need credit and bond analysis skills specific to these instruments. Now, for the first time, there's a complete, practical, and expert tutorial and workbook covering all facets of modern leveraged finance analysis. In"A Pragmatist's Guide to Leveraged Finance, "Credit Suisse managing director Bob Kricheff explains why conventional analysis techniques are inadequate for leveraged instruments, clearly defines the unique challenges sellers and buyers face, walks step-by-step through deriving essential data for pricing and decision-making, and demonstrates how to apply it. Using practical examples, sample documents, Excel worksheets, and graphs, Kricheff covers all this, and much more: yields, spreads, and total return; ratio analysis of liquidity and asset value; business trend analysis; modeling and scenarios; potential interest rate impacts; evaluating and potentially escaping leveraged finance covenants; how to assess equity (and why it matters); investing on news and events; early stage credit; and creating accurate credit snapshots. This book is an indispensable resource for all investment and underwriting professionals, money managers, consultants, accountants, advisors, and lawyers working in leveraged finance. In fact, it teaches credit analysis skills that will be valuable in analyzing a wide variety of higher-risk investments, including growth stocks.

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Released February 1, 2012
Identifier (ISBN) 13661487
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Robert S. Kricheff
The Mind Behind the Work
Robert S. Kricheff

Robert S. Kricheff writes contemporary fiction and has always been fascinated by character-driven stories. They hold a degree in English Literature and previously worked as an editor before transitioning to writing their own books. Robert S. Kricheff lives with their spouse and a very vocal rescue cat.

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"A profoundly satisfying read. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I am now a lifelong fan of this author."
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"Took a moment to build, but the payoff was spectacular. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A wonderful companion for a quiet weekend."
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"Absolutely brilliant. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. Worth every moment spent reading."
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"Masterpiece from start to finish. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I am now a lifelong fan of this author."
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"A highly sophisticated read. A brilliant concept executed with flair. Just a few pacing choices I would change. A wonderful companion for a quiet weekend."
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"A very strong entry. A brilliant concept executed with flair. Just a few pacing choices I would change. A wonderful companion for a quiet weekend."
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"A very strong entry. It held my rapt attention, even when certain twists were telegraphed. A solid 4 stars from me."
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"Exceeded all my expectations. The prose is exquisite. It’s accessible yet undeniably sophisticated. An effortless 5 stars."
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"Such a rich narrative. The prose is exquisite. It’s accessible yet undeniably sophisticated. I am now a lifelong fan of this author."
Margaret Edwards
Margaret Edwards March 13, 2024
"A highly sophisticated read. The protagonist was compelling, though some subplots felt slightly overshadowed. Quite impressive overall."
Laura Thompson
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"Exceeded all my expectations. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An effortless 5 stars."
Melissa Thompson
Melissa Thompson October 30, 2024
"A decent, if standard, experience. The prose was competent, yet the characters lacked the depth I usually seek. Perhaps more aligned with a different audience's tastes."
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"Exceeded all my expectations. The prose is exquisite. It’s accessible yet undeniably sophisticated. A true literary gem."
Nicholas Wright
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"I was completely blown away. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. Worth every moment spent reading."
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"Exceeded all my expectations. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An effortless 5 stars."
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"Such a rich narrative. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An absolute must-read for connoisseurs of the genre."
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"Exceeded all my expectations. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An effortless 5 stars."
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"Absolutely brilliant. The prose is exquisite. It’s accessible yet undeniably sophisticated. I am now a lifelong fan of this author."
Cynthia Brown
Cynthia Brown May 15, 2025
"Absolutely brilliant. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An absolute must-read for connoisseurs of the genre."
Charles Campbell
Charles Campbell August 28, 2025
"Absolutely brilliant. I became deeply invested in the protagonist's journey. A masterclass in storytelling. A true literary gem."
Melissa Wright
Melissa Wright January 04, 2024
"A very strong entry. It held my rapt attention, even when certain twists were telegraphed. A wonderful companion for a quiet weekend."
Patricia Torres
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"Took a moment to build, but the payoff was spectacular. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A solid 4 stars from me."
Thomas Campbell
Thomas Campbell January 10, 2024
"Honestly one of the most premium reading experiences lately. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An effortless 5 stars."
John Miller
John Miller August 30, 2025
"A highly sophisticated read. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A wonderful companion for a quiet weekend."
Margaret Garcia
Margaret Garcia January 31, 2024
"Masterpiece from start to finish. The prose is exquisite. It’s accessible yet undeniably sophisticated. Worth every moment spent reading."
Patricia Clark
Patricia Clark October 26, 2024
"Such a rich narrative. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I am now a lifelong fan of this author."
Melissa  Parker
Melissa Parker January 03, 2024
"A profoundly satisfying read. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. A true literary gem."
Sharon Harris
Sharon Harris February 19, 2025
"Honestly one of the most premium reading experiences lately. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An absolute must-read for connoisseurs of the genre."
Christopher Lopez
Christopher Lopez January 12, 2025
"Took a moment to build, but the payoff was spectacular. The middle had a deliberate pace, but the climax was phenomenal. A solid 4 stars from me."
Jennifer Gomez
Jennifer Gomez February 28, 2024
"Excellent, though slightly flawed. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A wonderful companion for a quiet weekend."
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Melissa Torres May 24, 2024
"I thoroughly enjoyed the elegance of it. A brilliant concept executed with flair. Just a few pacing choices I would change. Quite impressive overall."
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