Models
Models
The workbook behind every credit page. Inputs are blue, formulas are black, and nothing is pasted in as a value. Open one, change a number and see what breaks.
By credit
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Cooper Standard Stressed
Capital structure and recovery model. 4 tranches, 6.0x of leverage, 3 valuation cases.
Company financials
Five years of quarterly results, then annual, on one tab: income statement, balance sheet and cash flow, taken from each company’s SEC filings. A second tab shows the capital structure. EBITDA here is unadjusted.
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Cooper Standard CPS
20 quarters to Sep 2026 and 5 fiscal years. 1 bonds and loans with fund marks.
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Bausch Health BHC
20 quarters to Sep 2026 and 5 fiscal years. 9 bonds and loans with fund marks.
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Sabre SABR
20 quarters to Sep 2026 and 5 fiscal years. 1 bonds and loans with fund marks.
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Forward Air FWRD
20 quarters to Sep 2026 and 5 fiscal years.
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Sealed Air SEE
20 quarters to Dec 2025 and 5 fiscal years. 1 bonds and loans with fund marks.
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Advantage Solutions ADV
20 quarters to Sep 2026 and 5 fiscal years.
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Claritev (MultiPlan) CTEV
20 quarters to Sep 2026 and 5 fiscal years.
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Community Health Systems CYH
20 quarters to Sep 2026 and 5 fiscal years.
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Whirlpool WHR
20 quarters to Sep 2026 and 5 fiscal years. 12 bonds and loans with fund marks.
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Goodyear GT
20 quarters to Sep 2026 and 5 fiscal years. 7 bonds and loans with fund marks.
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JetBlue JBLU
20 quarters to Sep 2026 and 5 fiscal years. 2 bonds and loans with fund marks.
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O-I Glass OI
20 quarters to Sep 2026 and 5 fiscal years.
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Columbus McKinnon CMCO
20 quarters to Sep 2026 and 5 fiscal years. 1 bonds and loans with fund marks.
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EquipmentShare EQPT
5 quarters to Sep 2026 and 3 fiscal years. 4 bonds and loans with fund marks.
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Caesars Entertainment CZR
20 quarters to Sep 2026 and 5 fiscal years. 6 bonds and loans with fund marks.
Templates
- Download .xlsx
Capital structure and recovery template
The workbook behind every credit page, with placeholder numbers. Enter the tranches, EBITDA and three valuation cases, and it works out leverage through each class, creation multiples, interest cover, the maturity schedule and recoveries.
- Download .xlsx
Bond math workbook
Price to yield and back, current yield, spread to a benchmark, modified duration, and a grid showing what the bond is worth as yields move.
How the models are built
One source
Each model is generated from the same data file as its credit page, so the page and the workbook cannot drift apart.
Live formulas
Leverage, creation multiples, interest cover and recoveries are all formulas. Add a tranche in a spare row and every sheet picks it up.
Banking conventions
Blue for inputs, black for formulas, amounts in millions, negatives in brackets. It will look familiar on first open.