Pragmatist's Guide to Leveraged Finance, A: Credit Analysis for Bonds and Bank Debt (paperback) Paperback – 12 Sept. 2013

I have found this book very disappointing - especially for the price offered. The book is repititive (not sure who the addressed reader were) and missing qualitative aspects of credit analysis. It gets here and there more technical with satisfying examples, however, again do not expect this to be very detailed. It should be understood that leveraged finance and its credit decisions are not only based on the firm's financials and ratios but equally depend upon qualitative aspects, e.g. sustainability of cash flows, market trend, competitiveness and so on - which is covered at no depth.This book might be good for readers who don't have basic knowledge of corporate finance/debt and the questions at the end of each topic are good to test your understanding. However, this book will not be sufficient if you want to understand credit analysis and I highly recommend you get the S&P credit analysis book for this: "Fundamentals of Corporate Credit Analysis" which covers also qualitative aspects e.g. macro, micro, business risk and the result in the business' financial risk.