Macroeconomic Analysis

• GDP

• Inflation

• Fiscal Balance

• Trade Balance

• Government Debt

• Other Economic Factors

Company Analysis

• Revenues

• Cost Structure & Profitability Margins

• Debt Structure

• Leverage

• Other Factors

Industry Analysis

• Competitive Environment

• Growth Expectations

• Cyclicality

• Seasonality

• Regulatory Environment

• Other Factors That May Impact the Industry

Valuation

• Absolute Value Analysis Based on Historical Yields

• Relative Value Analysis Comparing Credits In The Same Sector, Credit Quality and Country