All,
I am in the process of spreading debt comps - have the few key credit comparables as well as all of their current trading levels. Aside from your classic Debt / EBITDA, Net Debt / EBITDA, Secured Debt / EBITDA, Secured Debt Asset Coverage, etc (based on face and market value of debt). What are they other key metrics to show? Some of these companies (all HY) have multiple bonds outstanding - assume something outlining current yields & pricing?
Appreciate your help guys - some of this might sound basic but haven't had to do it before and don't have any samples.
Lewiz
corporate/facility ratings, leverage through each tranche, call dates, YTW
interest coverage ratio
Interest Rate / Coupon on the tranches, purpose of issue (LBO/Dividend Recap/M&A/Refi), OID
FFO-based interest and debt coverage metrics.
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