Case Studies
QPCA members develop conviction through rigorous, independent analysis of real credit events. Members analyze a mock LBO model along with a real company 10-K to form a recommendation.
Published Work
Each case study is independently researched and authored by QPCA members, reflecting the depth of analysis expected in institutional credit underwriting.
A new credit analysis case is currently being developed. Check back soon for details on the borrower, deal structure, and key analytical themes.
Key Terms
Process
Every QPCA case study follows a structured methodology designed to mirror institutional credit committee standards.
Understanding the borrower's competitive position, revenue drivers, and the secular trends shaping its sector.
Building base, upside, and downside scenarios with detailed cash flow projections, coverage ratios, and sensitivity tables.
Evaluating the capital structure, covenant package, intercreditor dynamics, and collateral coverage in each scenario.
Synthesizing findings into a professional credit memo with a clear recommendation, risk factors, and mitigants.