How do I learn corporate credit analysis?

Anchor on the question every credit answers: will I get my money back? Build from leverage/coverage ratios to cash flow durability to structure and covenants. KomFi drills the full stack with 2,000 practice questions and worked explanations.

How do I prepare for a credit analyst interview?

Expect a name walk-through: lay out leverage, coverage, liquidity, maturity wall, covenants, and your view. Drilling ratio mechanics and covenant logic beforehand frees the interview for judgment.

What ratios matter most in credit analysis?

Debt/EBITDA for leverage, EBITDA/interest for coverage, FCF/debt for repayment capacity, plus liquidity and maturity profile. The skill is reading them together against the business model — which is what these questions train.

Free sample questions

1. Apex Manufacturing has a total exposure at default (EAD) of… — What is the annual expected loss (EL) for this
2. What is the company's Funds From Operations (FFO)?
3. Which statement best reflects the credit risk synthesis?
4. A credit agreement requires a borrower to maintain a Net Lev… — What type of covenant is this?
5. Using the Merton structural model intuition, if a company's equity volatility (sigma_V) increases significantl
6. What is its CET1 ratio?
7. If EBITDA is $150M, what is the entry leverage multiple?
8. What is its EBITDA/Interest coverage ratio?
9. If revenue is $500M, variable costs are 60% of revenue, and fixed costs are $100M, what is the DOL?
10. What is the maximum percentage decline in EBITDA that the company can sustain before breaching the covenant, a
11. What is its CET1 ratio?
12. If the liquidation value of the assets is $350M, which group is the fulcrum security?
13. What is the company's Days Sales Outstanding (DSO)?
14. According to standard rating agency thresholds for a diversified industrial, which of the following ratings ma
15. For a specialty retailer, what is the historical industry convention multiplier used to capitalize operating l
16. What is the firm's net leverage ratio?
17. Following the strict absolute priority rule, what is the recovery for the Senior Unsecured Bonds?
18. Ironclad Corp has a credit agreement that requires the firm… — This is an example of what type of covenant?
19. Jupiter Systems is struggling with its debt load. To avoid a… — How would a rating agency most likely classify
20. In a well-known creditor-on-creditor move, a company transfers its valuable trademarks and brands to an 'unres
21. Andean Iron Corp is a low-cost iron ore producer. In a globa… — What does this imply for its credit rating com
22. What is the Net External Debt?
23. If the current exposure at default (EAD) is $200M, what is the calculated Expected Loss (EL)?
24. Based on standard notching rules, what is the likely rating of this specific bond?
25. Riverbed Logistics reports $4,200M in revenue. However, a si… — How does this impact the credit risk assessmen
26. Serta Simmons Bedding executed a transaction where 65% of it… — What is this tactic called?
27. Zenith Corp has an Exposure at Default (EAD) of $100M, a Pro… — What is the Expected Loss (EL) for this exposu
28. Falcon Aviation has been assigned a credit rating of BBB-. Based on standard market conventions, how is this c
29. What is the primary implication for creditors of the parent company?
30. Orion Ltd has an Expected Loss (EL) of $5M, a Probability of… — What is the Loss Given Default (LGD) for this