Security Analysis & Capital Structure Investing Considerations (Installment I)

This guide is aimed to equip readers with a foundational education on how to properly evaluate distressed securities within different types of capital structures, navigating how to understand where credits should trade / price on the primary and secondary markets.  

The guide first walks readers through the nature of a distressed credit's returns (yield) and dissects the inputs that comprise yield itself amidst various scenarios and special situations. Subsequently, we provide readers with two special situation investment case study examples using the concepts discussed prior.