Private Credit Program – Curriculum

Curriculum Overview

The curriculum provides a structured study of private lending, credit underwriting and risk evaluation. Instruction covers borrower analysis, loan structuring, covenant design and portfolio risk considerations.

Module Structure

The curriculum is delivered online through twelve modules. Each module includes lectures, readings, analytical exercises and case based evaluation.

Modules

Module 1.

  • Foundations of Private Credit Market structure
  • Participants
  • Instruments
  • Economic context

Module 2.

  • Borrower Evaluation and Financial Assessment
  • Cash flow review
  • Earnings quality
  • Business model evaluation
  • Financial stability

Module 3.

  • Credit Underwriting Methods
  • Coverage ratios
  • Repayment analysis
  • Stress testing
  • Risk considerations

Module 4.

  • Loan Structure and Terms
  • Senior and junior instruments
  • Amortization
  • Pricing
  • Economic implications
Module 5.

  • Covenants and Legal Framework
  • Affirmative covenants
  • Negative covenants
  • Financial tests
  • Enforcement mechanisms
Module 6.

  • Collateral and Security Structure
  • Collateral types
  • Lien structure
  • Recovery analysis
  • Security considerations
Module 7.

  • Private Credit Markets and Instruments
  • Direct lending
  • Mezzanine capital
  • Unitranche structures
  • Special situations credit
Module 8.

  • Credit Risk Modeling
  • Risk factors
  • Probability of default
  • Loss modeling
  • Scenario review
Module 9.

  • Portfolio Construction
  • Diversification
  • Allocation frameworks
  • Monitoring
  • Performance considerations
Module 10.

  • Monitoring and Ongoing Evaluation
  • Borrower updates
  • Covenant monitoring
  • Performance changes
  • Early warning indicators
Module 11.

  • Restructuring and Workouts
  • Distress evaluation
  • Renegotiation principles
  • Recovery options
  • Case examples
Module 12.

  • Integrated Case Study
  • Full underwriting exercise
  • Loan structure evaluation
  • Risk assessment
  • Credit memorandum
Assessment

Assessment includes structured underwriting exercises, modeling tasks and a final credit memorandum demonstrating integrated analysis.

Learning Outcomes

Participants completing the curriculum will be able to:

  • Evaluate borrowers using professional underwriting frameworks
  • Structure credit instruments and evaluate covenant implications
  • Conduct cash flow analysis and stress testing
  • Assess portfolio level credit exposure
  • Prepare structured credit assessments for investment decisions