The Pitfalls of Using EBITDA exposes the seven critical blind spots that EBITDA creates for credit professionals and connects each one to its covenant implications.
This course moves from the foundational pitfalls through the comparative limitations of EBITDA multiples, and into the covenant-specific dangers: how adjustments distort the number, how documentation can exacerbate the analysis, and how calculation flexibility combined with a lack of transparency creates real risk.
