By the end of this training course, trainees will be able to: -    Describe the credit instruments types and characteristics. -    Describe the entire credit life cycle from origination to repayment. -    Analyze and describe the credit risk drivers. -    Differentiate between credit risk and counterparty risk. -    Analyze and compare credit risk evaluation methodologies and concepts. -    Describe external rating scales, the rating process, and the link between ratings and default. -    Compare external and internal ratings’ approaches. -    Identify important factors used to calculate economic capital for credit risk: probability of default, exposure, and loss rate. -    Calculate expected loss (EL) and unexpected loss (UL). -    Describe challenges to quantifying credit risk. -    Interpret the main approaches used to model credit risk in a portfolio context and specify the pros and cons of each approach. -    Describe the tools and methodologies used to mitigate credit risk. -    Define the Credit Risk Stress Testing methodologies.