Credit Interview Expectations

Hey all, in a process for an opportunistic/distressed credit HF. Heard through the grapevine that I should expect a 4 hour case + model from a 10K/10Q/earnings calls on a hairy credit story.

What is expected in the time frame - I’m guessing it’s build a view on the biz across a few scenarios, make op model from revenue down to UFCF, bake in interest and maturities, and then have a quick DCF + comps valuation, waterfall, and returns analysis for whatever trade I think is best to pitch?

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