Private Credit
- 535
- questions
New to this? Read the lessons first. 6 tracks, in the order to learn them.
Open LearnDrill sets7 sets
- All topics535 questionsMixedEvery topic in one set, shuffled, the way a real interview jumps from your story to a DCF to a market question.Sign in to save scoresStart this set
- Behavioral101 questionsBehavioralsWhy credit, why private over public, why this firm, and the STAR questions.Sign in to save scoresStart this set
- Technicals89 questionsCredit analysisLeverage, coverage, free cash flow, downside cases, and the questions a lender asks first.Sign in to save scoresStart this set
- Modeling84 questionsLBO from the lender's seatSources and uses, debt capacity, paydown, and what the sponsor's model means for your loan.Sign in to save scoresStart this set
- Technicals91 questionsDocuments and structureCovenants, security, ranking, the capital structure, and the terms that protect you.Sign in to save scoresStart this set
- Technicals81 questionsRestructuringDefaults, recoveries, the waterfall, Chapter 11 basics, and liability management.Sign in to save scoresStart this set
- Markets89 questionsMarketsSpreads, base rates, the private versus syndicated market, and what moves credit.Sign in to save scoresStart this set
More ways to practice
- Cases11 cases played step by step, with exhibits, the math, and a model answer. The first is free.
- Voice mockAn interviewer asks out loud and you answer out loud.
- Timed interviewsA first round and a superday on the clock, scored at the end.
- Modeling testsBuild the model in a sheet against the clock.
- Terms62 Private Credit terms, each with a worked example.
- Company sets14 firms, how each one interviews and what it asks.
How the interview runs4 stages
- 1ApplicationResume and transcript. Small classes, so networking and a clear reason for credit over equity matter.
- 2First roundAn associate or VP. Why credit, a walk through of your experience, then credit metrics, capital structure, and how a lender gets repaid.
- 3Superday and caseA credit case on a company: leverage, coverage, cash flow under a downside, where in the capital structure you would lend, and the terms you would ask for. Some firms add a timed model.
- 4OfferFast at most direct lenders. Classes are small and seats fill early.
What gets askedShare by topic
- Credit analysis and downside30%
- Fit and why credit25%
- LBO and cash flow modeling20%
Read next
- Life as a Private Credit AnalystDeal flow from memo to close, hours, and the admin load, from someone doing the job.WSO
- Private Credit out of undergraduate?Which firms hire credit analysts straight from school and how that compares to PE seats.WSO
- Private Credit / DL MegathreadThe running thread on direct lending firms, comp, recruiting, and interview prep.WSO
- Mergers & Inquisitions: private creditMergers & InquisitionsWhat private credit is, who the big lenders are, and how they hire.