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Fitch Ratings Investment Banking Analyst Interview Questions

The questions to prepare for a Fitch Ratings Investment Banking Analyst interview. Questions from real interview reports rank first. Updated daily.

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1
Finance & AccountingStart here. 4 questions · ~32 min
Link the Three Financial StatementsMedium

Explain how net income, cash flow, retained earnings, and balance-sheet balances connect and how to verify a three-statement model ties.

Accounting FundamentalsFinancial StatementsThree-Statement ModelingFitch Ratings
How Do You Do an LBO, What Impacts an LBO, and What Makes a Good LBO Candidate?Hard

Build a paper LBO, calculate MOIC and IRR, identify return drivers, and define the characteristics of an attractive LBO candidate.

ValuationLBOFinancial ModelingFitch Ratings
Cost of CapitalHard

Calculate WACC from CAPM, after-tax debt cost, and capital structure weights for use in a DCF.

ValuationWACCFinancial ModelingFitch Ratings
Discounted Cash Flow WalkthroughHard

Build an unlevered DCF, calculate implied equity value per share, and test sensitivity to WACC and terminal growth.

ValuationDCFWACCFitch Ratings
2
More topics1 question · ~8 min
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