A comprehensive, self-contained guide to credit analysis, with applications for companies of relatively large size in any country. Practical and easy-to-read with case studies. Describes how to make term loans and the analysis to use on cashflow projections, discusses 'comfort' letters, and introduces the concept of 'economic Darwinism' to the business world. Includes spread sheets and glossary of financial terms.
We all seem to forget the basics as we search for more illusive returns on our balance sheet. This book was written over 20 years ago, but the fundamental principles still hold true. Cashflow is king. Without it your business fails. Had anyone pointed out that to Northern Rock's risk management committee things might have turned out differently. A must read for those in business.
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