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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 Hughes #104





















Assigned Chapters

Fundamentals of Corporate Credit Analysis - Blaise Ganguin and John Bilardello

Link to Amazon









Case Studies:
Yell Group Ltd. LBO





Assigned Lectures


Intro to Credit 

Lecture #1


Intro to Cash Flow Analysis - Risk Analysis 

Lecture #2


Transaction Sources & Uses & WACC Concepts 

Lecture #3


Proforma Balance Sheet 


Equity Expectation, Loan Rquirments and Regulation

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

Lecture #5

US Loan Syndication Powerpoint Presentation

Midterm Exam Review




Setting-up Projections Analysis

Debt Capacity Analysis 

Lecture #6


Mergers & Acquisition and LBO

Lecture #7

Powerpoint Presentation

LBO Analysis
Public to Private 

Case Studies:
AK Steel
Yell Group 

M&A Valuation Presentation

Credit Analysis Overview

Lecture #9

#10 Alternative Investments (CLOs & CDO's)

Lecture #10

CLO & CDO Structure Presentation


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


Revenue Assumpions

Celerity Technology Projections Analysis

Celerity Technology Debt Capacity

LBO Financial Model Blank

Completed Model - Colorado Dental

Public to Private LBO Q&D Model

LBO Financial Model

Yell Group Ltd. LBO

AK Steel Analysis


CLO Structure






Final Exam

Final Exam Template Updated


Homework Assignments


Due #1

Homework Link


Due #2

Homework Link


Due #3

Homework Link

Public to Private LBO Q&D Model

Intercontinental Hotel Website Link


Due #4

Homework Link


Reading Assignments


CDroussiotis Text Book Chapter 15 Excerpt


Leveraged Lending Guidance by the Fed on Highly Leveraged Transactions


CDroussiotis Text Book Chapter 16 Excerpt


LBO CASE STUDY: Colorado Dental

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

CDroussiotis Text Book Chapter 18 Extract


Project Assigments


Project is Due

May 10 at midnight

Assigned Companies

Project Description