Credit Analysis Risks Mitigants

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					                                                                                                       EXPANDING CREDIT INTELLIGENCE


PROJECT FINANCE CREDIT ANALYSIS
A three-day course (SI120) • US$3,595 • 24 CPE Credits

 Overview                                         Program Content
 The requirement for infrastructure
 investments in many parts of the world            DAY ONE                                              DAY THREE
 continues to be unabated. This is reflected in
 the substantial growth of public private
 partnerships and the use of project finance      Session 1: Fundamentals of Project                   Session 6: Key Aspects of Project
 techniques in financing large capital            Finance                                              Agreements
 intensive investment projects.
                                                  • Basic Concepts                                     • Shareholder Documents
 This seminar is an intensive training            • Group Exercises                                    • Construction Contract
 program to give delegates a structured                                                                • O&M Contract
 approach for assessing project finance           Session 2: Project Finance Risk Analysis
 transactions. An integral part of this course                                                         • Fuel Supply Agreement
 is the introduction to Moody's rating            Framework                                            • Off-take Arrangements
 methodology, both in general and for rating      • General risk management principles                 • The role of insurance in project finance
 project finance transactions.                    • Key project risks and mitigants                    • Group Exercises
 The course has an international focus and        • Group Exercises
 covers a range of different types of
                                                                                                       Session 7: Key Aspects of Financing
 infrastructure projects in different regions.    Session 3: Credit Ratings in the Project             Agreements
 As such, the seminar is generic in nature        Finance Context                                      • Loan documentation
 and not specific to any one financial market     • Concepts of probability of default, loss given     • Intercreditor issues
 or region                                          default, and expected loss                         • Security package
                                                  • Moody's rating process                             • Group Exercise
 Learning Objective                               • Moody's rating methodology for project finance
 On the completion of this seminar, delegates       transactions                                       Session 8: Comprehensive Case Study
 will be able to:                                 • Group Exercises                                    • Group Exercise
 • apply a structured framework for the
   analysis of large infrastructure projects
 • recognize the key factors for a robust
   project finance transaction                     DAY TWO
 • identify and assess the key credit risks
   inherent in project financings                 Session 4: Introduction to Financial
 • appreciate the integrated nature of project    Structuring
   finance documentation                          • Types and sources of finance
 • use and interpret a simplified financial       • Structural features of project financings
   model for the assessment, and stress           • Structural enhancements of project finance
   testing, of a project finance transaction        transactions
 • understand Moody's rating methodology in       • Group Exercises
   the project finance context.
                                                  Session 5: Financial Analysis and
 Who Should Attend                                Modeling
 This seminar is designed as an entry level       • The importance of the financial model in project
 course aimed at Project Finance                    finance
 professionals ranging from beginners to          • Best practices in financial modeling
 those having a maximum of two years of           • Project finance cash flow waterfall
 experience. Delegates may come from a            • Key project finance ratios
 variety of backgrounds, including
                                                  • Financial and sensitivity analyzes
 • Investment and commercial bankers,
 • Credit analysts,
 • Fixed-income analysts,
 • Sponsors, contractors, and investors,
 • Other interested professionals.

 Program Level: Overview
 Prerequisites: Either approx. two years
 experience in a credit-related function or
 attendance on the Fundamentals of
 Corporate Credit seminar.
 Advanced Preparation: None
 Delivery Method: Group-Live
PROJECT FINANCE CREDIT ANALYSIS
Registration Instructions                                                                                                           Fax to 1 212-298-6939
Registration / Questions /                             I WISH TO ATTEND THE FOLLOWING TRAINING
Cancellations:
North America: Leann DeWan                                    New York: May 13-15, 2009, $3,595                      New York: October 26-28, 2009, $3,595
leann.dewan@moodys.com
ph + 1 415-874-6410
                                                              New York: August 18-20, 2009, $3,595
fx + 1 212-298-6939                                   Course Schedule - Classes run from 9AM - 5PM. A light continental breakfast, lunch, and morning and afternoon
                                                      refreshments are provided daily.
                                                      Venue - All New York City seminars are held at Moody's Corporation's corporate headquarters, 7 World Trade Center
If you are interested in other                        at 250 Greenwich St. New York, NY.
credit training seminars,
please visit our website at
www.moodys.com/trainingservices                        HOW DID YOU HEAR ABOUT THE TRAINING?

Accreditation: Moody's Investors Service is            Colleague                  Client’s company  Email                         Google
registered with the National Association of            Moody’s Event              Moody’s Rep       Moodys.com                    Financial Times Ad
State Boards of Accountancy (NASBA) as a
sponsor of continuing professional education
                                                       NASBA                      Advertising       Mailer
on the National Registry of CPE Sponsors.
State boards of accountancy have final                 DELEGATE DETAIL
authority on the acceptance of individual
courses for CPE Credit. Complaints regarding          Name:
registered sponsors may be addressed to the
National Registry of CPE Sponsors, 150 Fourth         Title:
Avenue North, Suite 700, Nashville, TN 37219-
2417. Website: www.nasba.org.
                                                      Department:
Fees: The fee for each seminar is per                 Company:
participant, inclusive of refreshments, lunches
and seminar materials. Course fees do not             Address:
include applicable tax, transportation or hotel
accommodations. Preferential rates may be             City:                                     State/County:                    Zip/Postcode:
available; please mention our seminar when
booking with the hotel. Payment must be
                                                      Country:
received in full at least 30 days prior to the        Telephone:                                                Fax:
start of the seminar.
Special prices (participants are only eligible        E-mail:
                         :
for one of the following):
- 10% reduction when an individual registers          Moody’s Rep:
60 days or more prior to the commencement of
a seminar
- 10% reduction when 2 or more individuals             BILLING DETAIL (if different)
from an organization register for the same
seminar                                               Name:
- 10% reduction when an individual registers
for more than one seminar at a time
                                                      Title:
Cancellation Policy: Cancellations may be             Department:
made up to 30 days in advance of the seminar,
after which date refunds cannot be given.             Company:
Notification must be received in writing by letter,
fax or email. In the event of a participant not       Address:
being able to attend, a substitution may be made      City:                                     State/County:                    Zip/Postcode:
at no extra cost. We reserve the right to amend
the prices, or cancel a seminar at any time.          Country:
Refund Policy: For further information on our
refund and complaint policy, please contact us at
+1 415-874-6410.                                      PAYMENT DETAIL

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