August 26, 2020 - The LSTA, together with Fitch Ratings, will be holding a three-part young professionals Lunch and Learn series on three consecutive Thursday’s at 12:30 to 1:30 pm beginning September 10th. This Lunch and Learn series will be moderated by LSTA VP of Market Analytics and Strategy, Kenny Riaz, and will feature six industry experts, providing participants with a deeper understanding of the loan market.

The first Lunch and Learn, “The differences between loans and bonds: Are loans distinct?,” will feature resident LSTA loan experts Elliot Ganz and Ted Basta. The panel will provide insights on the distinction between high yield bonds and loans and answer the question, “Are loans securities?”

In the second Lunch and Learn, “Demystifying the ratings process and credit research,” LSTA Executive Director Lee Shaiman, along with Mike Paladino of Fitch Ratings, will provide a behind-the-scenes look at the rating process in a Covid-19 world. The panel will provide participants with a cross sectional view of how ratings are derived and Mr. Shaiman, with 40 years of Wall Street experience, will provide insight from the portfolio management side.

In the third and final session, “Credit docs and covenants – reviewing the fundamentals,” LSTA’s Bridget Marsh along with Jessica Reiss of Covenant Review, will define key terminology in documentation, compare and contrast covenant conditions for loans vs bonds, and discuss how a J. Crew-like situation arises. As we head into back to school season, the LSTA is inspired to help you learn more about the loan market. Join us as we send off summer, and discuss all things loans!

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Membership in the LSTA offers numerous benefits and opportunities. Chief among them is the opportunity to participate in the decision making process that ultimately establishes loan market standards, develops market practices, and influences the market’s direction.

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