After taking this class, successful candidates will be able to model a transaction a priori based on the prospectus and issuer databases using the techniques described in class. In addition, the student will be in a position to accurately value asset-backed securities in arbitrary non-revolving transactions in most asset classes, i.e. to assign them credit ratings and interest rates.This course will enable students to discuss intelligently the drivers of credit, liquidity and other risks with a view towards optimal liability structuring.