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  3. Credit Analysis in Action: Economic and Industry Essentials

Credit Analysis in Action: Economic and Industry Essentials

Learn to assess credit risk, analyze bonds, and manage fixed-income portfolios using tools like yield curves, CDS, and Basel III frameworks. Build risk-aware, ESG-integrated credit strategies through hands-on projects and real-world cases.

Michael McDonald
Michael McDonald
Finance | intermediate | 6 hours 30 minutes |   Published: Oct 2025

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Overview

1.5KSTUDENTS*
96.8%RECOMMEND*

This course includes:

  • On-demand videos
  • Practice assessments
  • Multiple hands-on learning activities
  • Exposure to a real-world project
  • 100% self-paced learning opportunities
  • Certification of completion

Credit Analysis in Action: Economic and Industry Essentials." In this course, you’ll learn how to assess credit risk and manage fixed-income investments using advanced tools like bond pricing models, credit derivatives, and regulatory frameworks. You’ll focus on real-world applications such as yield curve analysis, CDS evaluation, collateral and covenant review, stress testing, and Basel III compliance to build strategic, risk-aware portfolios. Through expert instruction, hands-on exercises, and case studies, you’ll gain the skills to implement effective credit strategies—including ESG integration—navigate regulations, and confidently manage institutional credit exposure in dynamic markets.

Skills You Will Gain

Economic Forecasting
Economic Growth
Credit Analysis
AI Credit Analysis
Credit Assessment
Credit Decisions

Learning Outcomes (At The End Of This Program, You Will Be Able To...)

  • Analyze macroeconomic and industry factors affecting credit risk across market cycles.
  • Evaluate specialized credit markets, including high-yield and distressed debt.
  • Integrate ESG factors into comprehensive credit risk assessments.
  • Execute complete credit analysis projects using professional methodologies.

Prerequisites

To get the most out of this course, participants should have a basic understanding of financial concepts such as time value of money, interest rates, and financial statements. Familiarity with Excel and basic quantitative skills will be helpful for completing hands-on exercises. While no prior experience in credit analysis or fixed income markets is required, those with a background in finance, accounting, or investment will find the course especially rewarding.

Who Should Attend

This course is designed for finance professionals aiming to deepen their expertise in credit risk assessment and fixed income investing. Whether you're a financial analyst, fixed income trader, portfolio manager, or credit risk specialist at a bank or rating agency, the content is tailored to equip you with practical, industry-relevant skills. Investors looking to better understand the bond market will also benefit from its structured approach and real-world applications.

Curriculum

Instructors

*Where courses have been offered multiple times, the “# Students” includes all students who have enrolled. The “%Recommended” shown is also based on this data.
1Module 1: Macroeconomic and Industry Factors in Credit Analysis
2Module 2: High-Yield and Distressed Debt Investing
3Module 3: Assessing Collateral and Loan Structure in Credit Agreements
4Module 4: The Role of ESG in Credit Analysis

You need to enroll in this course to access the curriculum. Click 'Enroll' to get started!

Segment 00: Reading - Welcome to the Course: Course Overview

Segment 01: Introduction to Macroeconomic Risks

Segment 02: Inflation and Interest Rates

Segment 03: Economic Cycles and Credit Risk

Segment 04: Specific Credit Risks_

Segment 05: Case Study Credit Risk in a Recession 

Segment 06: Global Risks and Credit Markets

Segment 07: Hands-On-Learning - Evaluating Macroeconomic Risks

Segment 08: Reading - Probability of Default and Implied Rating Estimation for Corporate Borrowers

Segment 09: Quiz - Macroeconomic and Industry Factors in Credit Analysis

You need to enroll in this course to access the curriculum. Click 'Enroll' to get started!

Segment 10: Introduction to High-Yield Bonds 

Segment 11: Credit Risk in Distressed Debt

Segment 12: Default Recovery and Restructuring - Update

Segment 13: High-Yield vs. Investment-Grade Bonds

Segment 14: Case Study Investing in Distressed Debt

Segment 15: Risks and Rewards of High-Yield Investing

Segment 16: Hands-On-Learning - Analyze a High-Yield Bond Investment

Segment 17: Reading - High-Yield Bond: Definition, Types, and How to Invest

Segment 18: Quiz - High-Yield and Distressed Debt Investing

You need to enroll in this course to access the curriculum. Click 'Enroll' to get started!

Segment 19: Introduction to ESG Factors in Credit Analysis

Segment 20: Environmental Risk and Credit Ratings

Segment 21: Social and Governance Factors in Credit Risk

Segment 22: ESG Integration in Credit Ratings

Segment 23: Case Study ESG Impact on Corporate Creditworthiness

Segment 24: Challenges in ESG Credit Analysis

Segment 25: Hands-On-Learning - Evaluating a Loan Agreement

Segment 26: Reading - Cash Flow Available For Debt Service (CFADS)

Segment 27: Quiz - Assessing Collateral and Loan Structure in Credit Agreements

Michael McDonald

Michael McDonald

With over a decade of expertise in finance and economics, supported by a PhD in Finance and extensive teaching experience at Fairfield University, he is committed to delivering in-depth insights into financial accounting, analysis, and business valuation. His academic journey is distinguished by numerous publications on topics ranging from stock returns to bond market dynamics, reflecting a profound understanding of global financial markets. Renowned for his dynamic teaching style, he seamlessly blends theoretical concepts with real-world applications. He has taught a diverse range of courses, from foundational investments to advanced project analysis and factor-based investing, consistently crafting tailored coursework to enhance student learning outcomes. His professional background as a municipal bond trader and senior editor at Seeking Alpha brings practical insights and industry relevance to his instruction. This unique blend of academic rigor and real-world expertise equips students with critical analytical skills, empowering them to navigate today’s complex financial landscape with confidence. Passionate about knowledge dissemination, he excels in both traditional and e-learning environments, fostering an engaging and transformative learning experience. His courses are meticulously designed to make complex financial concepts accessible and actionable, bridging the gap between theory and practice. With a dedication to inspiring the next generation of finance professionals, he remains a trusted mentor and thought leader in the field.
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You need to enroll in this course to access the curriculum. Click 'Enroll' to get started!

Segment 28: Introduction to Loan Structures

Segment 29: Secured vs. Unsecured Lending

Segment 30: Understanding Debt Covenants

Segment 31: Collateral Valuation and Recovery

Segment 32: Case Study Loan Structuring in Practice

Segment 33: Risks of Weak Loan Structures

Segment 34: Hands-On-Learning - Evaluating ESG Risks in Credit Analysis

Segment 35: Reading - Credit Ratings, Financial Ratios, and Equity Risk: A Decomposition

Segment 36: Quiz - The Role of ESG in Credit Analysis

Segment 37: Project - ESG in Credit Risk Assessment