CRMCP: Corporate Rating Analysis of Energy Companies
Time: Sunday, March 31, 2019 - 9:30am to 10:30am
Track: Credit Risk Management Certificate Program (CRMCP)
This seven-session program is part of the Credit Risk Management Certification Program (CRMCP), a partnership between IECA and Moody’s Analytics. The program is targeted for the new to intermediate level credit professional and will also serve as an excellent refresher for the more seasoned credit or risk management professional. In order to participate, you will be required to sign-up for all seven sessions and pay an additional fee of $300 which includes all course material. Participants are required to attend all seven sessions to receive credit for the CRMCP; this includes attending the seventh session in its entirety. There will be a case study of a publicly listed energy company used throughout the seven sessions. The case study will be sent out in advance and will require attendees to do about one hour of pre-reading. In addition to the case study, there will be multiple examples used from different sectors of the energy industry. In this first session, we will learn about concepts of probability of default, loss given default, expected loss, and portfolio credit risk. We will examine default and recovery statistics, drivers of credit risk, and market-based credit models such as Moody’s KMV and market-implied ratings. This session includes a group exercise and discussion.
Prerequisites: Two years’ experience in a credit-related function or attendance at the Fundamentals of Credit Risk Analysis seminar or eLearning program. (applies to all seven sessions)
1 hr CPE - Management Advisory Services; 1 hr CE
Distinguish different approaches used in the rating process for assessing corporate credit ratings.