High yield credit research investment pitch

Hey guys, I'm interviewing for a HY credit research role in the AM arm of a BB, part of the process is an investment pitch. Some data/credit info will be provided along with a few hours to work, then some time to present. 

My background is in Rx but not on the financial analysis/modeling side (I can build a basic 3 statement/operating model however). I have a high level plan, understanding that the analysis is dependent on what info I get at the start:

Credit analysis component -- industry and company overview/risk factors, key business drivers

Financial analysis component -- key ratios (fixed charge, leverage, etc), operating info (historical financials and projections), capital structure/debt schedule, cash flow and valuation (FCF, relative val metrics and potentially down to a DCF)

Recommendation -- make a call and provide best/worst case scenarios, focus more on the downside as this is HY. 

Does anyone have additional insight/advice on how to approach this? Feel free to shred the above... Would really appreciate any other info as well - thanks!