Course\tFinancial Risk Management
\nAssignment\tCredit Risk Exercise 4.1
\nTitle\tCredit analysis and rating for working capital finance
\nDue Date\t20 February 2016
\nDescription\tYou are a commercial credit analyst at a bank. You receive the following request for working capital finance from Company A, a distributor of commercial kitchen equipment.
\nAmount: $500,000
\nPurpose: Finance purchase of inventory in preparation for expansion of sales territory
\nTerm: 1 year<\/p>\n
Instructions\tStudy Company A?s financial summary, then answer the following questions.
\nGive brief reasons for each of your answers.
\n1.\tIs the amount and term of Company A?s financing request reasonable?
\n2.\tWhat is the primary source of repayment of the proposed working capital finance?
\n3.\tWhat credit rating is appropriate for Company A?
\nResponses\tIs the amount and term of Company A?s financing request reasonable? <\/p>\n
\n\tWhat is the primary source of repayment of the proposed working capital finance?<\/p>\n
\n\tWhat credit rating is appropriate for Company A?<\/p>\n
\nInstructor Attachments\tA.\tCompany A?s financial summary
\nB.\tCredit rating table
\nStudent Attachments (not required)\t<\/p>\n
CUSTOMER A – FINANCIAL SUMMARY\t$ – Year to December 31
\nIncome statement\t2014\t2013\t2012
\nSales\t3,000,000\t2,000,000\t700,000
\nCost of sales\t2,100,000\t1,600,000\t595,000
\nGross profit\t900,000\t400,000\t105,000
\nOperating expenses\t500,000\t300,000\t100,000
\nInterest expense\t20,000\t15,000\t5,000
\nNon-cash income\/expense\t100,000\t80,000\t25,000
\nNet profit before tax\t280,000\t5,000\t-25,000
\nTax\t56,000\t1,000\t0
\nNet income\t224,000\t4,000\t-25,000
\nBalance Sheet\t\t\t
\nAssets\t \t \t
\nCash & bank accounts\t200,000\t150,000\t200,000
\nAccount receivables\t300,000\t180,000\t60,000
\nInventory\t1,500,000\t1,000,000\t350,000
\nCurrent assets\t2,000,000\t1,330,000\t610,000
\nFixed assets\t1,500,000\t1,000,000\t300,000
\nTotal assets\t3,500,000\t2,330,000\t910,000
\nLiabilities & Equity\t\t \t
\nAccounts payable\t400,000\t200,000\t50,000
\nShort term debt\t1,000,000\t750,000\t300,000
\nCurrent liabilities\t1,400,000\t950,000\t350,000
\nLong term debt\t0\t0\t0
\nShareholder equity\t2,100,000\t1,380,000\t560,000
\nTotal equity & liabilities\t3,500,000\t2,330,000\t910,000
\nCash flow\t\t\t
\nNet income\t224,000\t4,000\t-25,000
\nChange in current assets\t-670,000\t-720,000\t–
\nChange in current liabilities – short term debt\t200,000\t150,000\t–
\nNon-cash income\/expense\t100,000\t80,000\t25,000
\nOperating Cash Flow\t-146,000\t-486,000\t–
\nCapital expenditures\t-644,000\t-564,000\t–
\nFixed asset sales\t0\t0\t0
\nNew equity\t590,000\t550,000\t0
\nTotal cash flow\t-200,000\t-500,000\t–
\nChange in debt\t250,000\t450,000\t–
\nChange in cash\t50,000\t-50,000\t–
\nRatios\t\t\t
\nProfitability\t \t \t
\nGross Profit % Sales\t30.0%\t20.0%\t15.0%
\nNet Income % Sales\t7.5%\t0.2%\t-3.6%
\nLiquidity\t \t\t
\nCurrent Assets\/Current Liabilities\t1.4\t1.4\t1.7
\nLeverage\t \t\t
\nTotal Debt\/Shareholder Equity\t0.5\t0.5\t0.5
\nDebt coverage\t \t\t
\nOperating Cash Flow\/Total Debt\t-0.1\t-0.6\t–
\nOperating Cash Flow\/Interest Expense\t-7.3\t-32.4\t–<\/p>\n
\nCREDIT RATING TABLE
\n\tRating Definition
\n1\tLeading position in its chosen markets, long and unblemished business performance record, strong and stable financial ratios, no foreseeable change which could cause its financial profile to deteriorate, easy access to debt markets, negligible risk of non-payment of financial obligations when due
\n2\tWell-positioned in its chosen markets, established business performance record, healthy financial ratios, no apparent vulnerability which could cause its financial profile to deteriorate, comfortable access to debt markets, very low risk of non-payment of financial obligations when due
\n3\tViable competitor in its chosen markets, short or fluctuating business performance record, most financial ratios at or above acceptable levels, some vulnerabilities which could cause its financial profile to deteriorate, reasonable access to debt markets subject to thorough financial disclosure and due diligence, low risk of non-payment of financial obligations when due
\n4\tWeak competitor in its chosen markets, uneven business performance record, several financial ratios below acceptable levels, significant vulnerability to deterioration in its financial profile, limited access to debt markets and only then with thorough financial disclosure and due diligence, moderate risk of non-payment of financial obligations when due
\n5\tStruggling commercially in its chosen markets, prolonged sub-standard business performance record, most financial ratios below acceptable levels, significant and immediate vulnerabilities to deterioration in its financial profile, very iimited access to debt markets and only then on onerous terms and conditions, high risk of non-payment of financial obligations when due
\n6\tMarginalized in its chosen markets, prolonged loss-making business performance record, financial ratios far below acceptable levels, high risk of further deterioration in financial profile, little or no access to debt markets, already delinquent in some of its financial obligations<\/p>\n
\nCourse\tFinancial Risk Management
\nAssignment\tCredit Risk Exercise 4.2
\nTitle\tCredit analysis and rating for trade credit
\nDue Date\t20 February 2016
\nDescription\tYou are a credit analyst at Company A. You receive the following request for trade credit from Company B, a regional chain of restaurants.
\nAmount: $200,000
\nPurpose: Supplier credit for the purchase of kitchen equipment to be installed in a small chain of restaurants which Company B recently acquired.
\nTerm: 6 months<\/p>\n
Instructions\tStudy Company B?s financial summary, then answer the following questions.
\nGive brief reasons for each of your answers.
\n4.\tIs the amount and term of Company B?s financing request reasonable?
\n5.\tWhat is the primary source of repayment of the proposed trade credit?
\n6.\tWhat credit rating is appropriate for Company B?
\nResponses\tIs the amount and term of Company B?s financing request reasonable? <\/p>\n
\tWhat is the primary source of repayment of the proposed trade credit?<\/p>\n
\tWhat credit rating is appropriate for Company B?<\/p>\n
Instructor Attachments\tA.\tCompany B?s financial summary
\nB.\tCredit rating table
\nStudent Attachments (not required)\t<\/p>\n
COMPANY B – FINANCIAL SUMMARY\t$ – Year to December 31
\nIncome statement\t2014\t2013\t2012
\nSales\t35,000,000\t25,000,000\t20,000,000
\nCost of sales\t17,500,000\t11,250,000\t11,000,000
\nGross profit\t17,500,000\t13,750,000\t9,000,000
\nOperating expenses\t1,500,000\t1,250,000\t900,000
\nInterest expense\t10,200,000\t8,000,000\t5,000,000
\nNon-cash income\/expense\t3,500,000\t3,000,000\t2,300,000
\nNet profit before tax\t2,300,000\t1,500,000\t800,000
\nTax\t345,000\t300,000\t160,000
\nNet income\t1,955,000\t1,200,000\t640,000
\nBalance Sheet\t\t\t
\nAssets\t \t \t
\nCash & bank accounts\t400,000\t350,000\t200,000
\nAccount receivables\t125,000\t75,000\t60,000
\nInventory\t5,000,000\t3,750,000\t3,000,000
\nCurrent assets\t5,525,000\t4,175,000\t3,260,000
\nFixed assets\t35,000,000\t30,000,000\t23,000,000
\nTotal assets\t40,525,000\t34,175,000\t26,260,000
\nLiabilities & Equity\t\t \t
\nAccounts payable\t2,000,000\t1,500,000\t1,000,000
\nShort term debt\t1,500,000\t2,500,000\t1,000,000
\nCurrent liabilities\t3,500,000\t4,000,000\t2,000,000
\nLong term debt\t16,500,000\t12,500,000\t8,000,000
\nShareholder equity\t20,525,000\t17,675,000\t16,260,000
\nTotal equity & liabilities\t40,525,000\t34,175,000\t26,260,000
\nCash flow\t\t\t
\nNet income\t1,955,000\t1,200,000\t640,000
\nChange in current assets\t-1,350,000\t-915,000\t–
\nChange in current liabilities – short term debt\t500,000\t500,000\t–
\nNon-cash income\/expense\t3,500,000\t3,000,000\t2,300,000
\nOperating Cash Flow\t4,605,000\t3,785,000\t–
\nCapital expenditures\t-7,555,000\t-6,495,000\t–
\nFixed asset sales\t0\t0\t0
\nNew equity\t0\t1,360,000\t0
\nTotal cash flow\t-2,950,000\t-1,350,000\t–
\nChange in debt\t3,000,000\t1,500,000\t–
\nChange in cash\t50,000\t150,000\t–
\nRatios\t\t\t
\nProfitability\t \t \t
\nGross Profit % Sales\t50.0%\t55.0%\t45.0%
\nNet Income % Sales\t5.6%\t4.8%\t3.2%
\nLiquidity\t \t\t
\nCurrent Assets\/Current Liabilities\t1.6\t1.0\t1.6
\nLeverage\t \t\t
\nTotal Debt\/Shareholder Equity\t0.9\t0.8\t0.6
\nDebt coverage\t \t\t
\nOperating Cash Flow\/Total Debt\t0.3\t0.3\t–
\nOperating Cash Flow\/Interest Expense\t0.5\t0.5\t–<\/p>\n
CREDIT RATING TABLE
\n\tRating Definition
\n1\tLeading position in its chosen markets, long and unblemished business performance record, strong and stable financial ratios, no foreseeable change which could cause its financial profile to deteriorate, easy access to debt markets, negligible risk of non-payment of financial obligations when due
\n2\tWell-positioned in its chosen markets, established business performance record, healthy financial ratios, no apparent vulnerability which could cause its financial profile to deteriorate, comfortable access to debt markets, very low risk of non-payment of financial obligations when due
\n3\tViable competitor in its chosen markets, short or fluctuating business performance record, most financial ratios at or above acceptable levels, some vulnerabilities which could cause its financial profile to deteriorate, reasonable access to debt markets subject to thorough financial disclosure and due diligence, low risk of non-payment of financial obligations when due
\n4\tWeak competitor in its chosen markets, uneven business performance record, several financial ratios below acceptable levels, significant vulnerability to deterioration in its financial profile, limited access to debt markets and only then with thorough financial disclosure and due diligence, moderate risk of non-payment of financial obligations when due
\n5\tStruggling commercially in its chosen markets, prolonged sub-standard business performance record, most financial ratios below acceptable levels, significant and immediate vulnerabilities to deterioration in its financial profile, very iimited access to debt markets and only then on onerous terms and conditions, high risk of non-payment of financial obligations when due
\n6\tMarginalized in its chosen markets, prolonged loss-making business performance record, financial ratios far below acceptable levels, high risk of further deterioration in financial profile, little or no access to debt markets, already delinquent in some of its financial obligations<\/p>\n
Course\tFinancial Risk Management
\nAssignment\tCredit Risk Exercise 4.3
\nTitle\tCredit analysis and rating for fixed asset finance
\nDue Date\t20 February 2016
\nDescription\tYou are a commercial credit analyst at a bank. You receive the following request for fixed asset finance from Company C, a commercial transportation company.
\nAmount: $5,000,000
\nPurpose: Finance purchase of new long distance road transport tractors and trailers to replace ageing fleet
\nTerm: 60 monthly instalments<\/p>\n
Instructions\tStudy Company C?s financial summary, then answer the following questions.
\nGive brief reasons for each of your answers.
\n7.\tIs the amount and term of Company C?s financing request reasonable?
\n8.\tWhat is the primary source of repayment of the proposed fixed asset finance?
\n9.\tWhat credit rating is appropriate for Company C?
\nResponses\tIs the amount and term of Company C?s financing request reasonable? <\/p>\n
\tWhat is the primary source of repayment of the proposed fixed asset finance?<\/p>\n
\tWhat credit rating is appropriate for Company C?<\/p>\n
Instructor Attachments\tC.\tCompany C?s financial summary
\nD.\tCredit rating table
\nStudent Attachments (not required)\t<\/p>\n
COMPANY C – FINANCIAL SUMMARY\t$ – Year to December 31
\nIncome statement\t2014\t2013\t2012
\nSales\t12,000,000\t13,000,000\t14,000,000
\nCost of sales\t4,500,000\t4,030,000\t3,850,000
\nGross profit\t7,500,000\t8,970,000\t10,150,000
\nOperating expenses\t800,000\t700,000\t600,000
\nInterest expense\t4,560,000\t5,505,000\t6,420,000
\nNon-cash income\/expense\t2,210,000\t2,700,000\t3,000,000
\nNet profit before tax\t-70,000\t65,000\t130,000
\nTax\t-10,500\t13,000\t26,000
\nNet income\t-59,500\t52,000\t104,000
\nBalance Sheet\t\t\t
\nAssets\t \t \t
\nCash & bank accounts\t350,000\t400,000\t500,000
\nAccount receivables\t3,000,000\t3,250,000\t3,500,000
\nInventory\t2,200,000\t2,100,000\t2,000,000
\nCurrent assets\t5,550,000\t5,750,000\t6,000,000
\nFixed assets\t17,000,000\t18,000,000\t20,000,000
\nTotal assets\t22,550,000\t23,750,000\t26,000,000
\nLiabilities & Equity\t\t \t
\nAccounts payable\t600,000\t1,200,000\t2,200,000
\nShort term debt\t4,400,000\t2,750,000\t3,000,000
\nCurrent liabilities\t5,000,000\t3,950,000\t5,200,000
\nLong term debt\t5,400,000\t7,800,000\t9,200,000
\nShareholder equity\t12,150,000\t12,000,000\t11,600,000
\nTotal equity & liabilities\t22,550,000\t23,750,000\t26,000,000
\nCash flow\t\t\t
\nNet income\t-59,500\t52,000\t104,000
\nChange in current assets\t200,000\t250,000\t–
\nChange in current liabilities – short term debt\t-600,000\t-1,000,000\t–
\nNon-cash income\/expense\t2,210,000\t2,700,000\t3,000,000
\nOperating Cash Flow\t1,750,500\t2,002,000\t–
\nCapital expenditures\t-1,169,500\t-516,000\t2,000,000
\nFixed asset sales\t0\t\t0
\nNew equity\t0\t0\t0
\nTotal cash flow\t581,000\t1,486,000\t–
\nChange in debt\t-750,000\t-1,650,000\t–
\nChange in cash\t-50,000\t-100,000\t–
\nRatios\t\t\t
\nProfitability\t \t \t
\nGross Profit % Sales\t62.5%\t69.0%\t72.5%
\nNet Income % Sales\t-0.5%\t0.4%\t0.7%
\nLiquidity\t \t\t
\nCurrent Assets\/Current Liabilities\t1.1\t1.5\t1.2
\nLeverage\t \t\t
\nTotal Debt\/Shareholder Equity\t0.8\t0.9\t1.1
\nDebt coverage\t \t\t
\nOperating Cash Flow\/Total Debt\t0.2\t0.2\t–
\nOperating Cash Flow\/Interest Expense\t0.4\t0.4\t–<\/p>\n
CREDIT RATING TABLE
\n\tRating Definition
\n1\tLeading position in its chosen markets, long and unblemished business performance record, strong and stable financial ratios, no foreseeable change which could cause its financial profile to deteriorate, easy access to debt markets, negligible risk of non-payment of financial obligations when due
\n2\tWell-positioned in its chosen markets, established business performance record, healthy financial ratios, no apparent vulnerability which could cause its financial profile to deteriorate, comfortable access to debt markets, very low risk of non-payment of financial obligations when due
\n3\tViable competitor in its chosen markets, short or fluctuating business performance record, most financial ratios at or above acceptable levels, some vulnerabilities which could cause its financial profile to deteriorate, reasonable access to debt markets subject to thorough financial disclosure and due diligence, low risk of non-payment of financial obligations when due
\n4\tWeak competitor in its chosen markets, uneven business performance record, several financial ratios below acceptable levels, significant vulnerability to deterioration in its financial profile, limited access to debt markets and only then with thorough financial disclosure and due diligence, moderate risk of non-payment of financial obligations when due
\n5\tStruggling commercially in its chosen markets, prolonged sub-standard business performance record, most financial ratios below acceptable levels, significant and immediate vulnerabilities to deterioration in its financial profile, very iimited access to debt markets and only then on onerous terms and conditions, high risk of non-payment of financial obligations when due
\n6\tMarginalized in its chosen markets, prolonged loss-making business performance record, financial ratios far below acceptable levels, high risk of further deterioration in financial profile, little or no access to debt markets, already delinquent in some of its financial obligations<\/p>\n
Course\tFinancial Risk Management
\nAssignment\tCredit Risk Exercise 4.4
\nTitle\tCredit analysis and rating for bridge finance
\nDue Date\t20 February 2016
\nDescription\tYou are a commercial credit analyst at a bank. You receive the following request for bridge finance from Company D, a national chain of retail pharmacies.
\nAmount: $10,000,000
\nPurpose: Finance acquisition of 80% of shares of a Company E, a chain of local pharmacies.
\nTerm: 1 year<\/p>\n
Instructions\tStudy Company D?s financial summary, then answer the following questions.
\nGive brief reasons for each of your answers.
\n10.\tIs the amount and term of Company D?s financing request reasonable?
\n11.\tWhat is the primary source of repayment of the proposed bridge finance?
\n12.\tWhat credit rating is appropriate for Company D?
\nResponses\tIs the amount and term of Company D?s financing request reasonable? <\/p>\n
\n\tWhat is the primary source of repayment of the proposed fixed asset finance?<\/p>\n
\n\tWhat credit rating is appropriate for Company D?<\/p>\n
\nInstructor Attachments\tE.\tCompany D?s financial summary
\nF.\tHighlights of Company E?s financial statements
\nG.\tCredit rating table
\nStudent Attachments (not required)\t<\/p>\n
COMPANY D – FINANCIAL SUMMARY\t$ – Year to December 31
\nIncome statement\t2014\t2013\t2012
\nSales\t200,000,000\t180,000,000\t162,000,000
\nCost of sales\t60,000,000\t55,800,000\t51,840,000
\nGross profit\t140,000,000\t124,200,000\t110,160,000
\nOperating expenses\t120,000,000\t108,000,000\t97,200,000
\nInterest expense\t450,000\t420,000\t393,000
\nNon-cash income\/expense\t6,500,000\t5,850,000\t5,265,000
\nNet profit before tax\t13,050,000\t9,930,000\t7,302,000
\nTax\t1,957,500\t1,986,000\t1,460,400
\nNet income\t11,092,500\t7,944,000\t5,841,600
\nBalance Sheet\t\t\t
\nAssets\t \t \t
\nCash & bank accounts\t750,000\t675,000\t607,500
\nAccount receivables\t4,000,000\t3,600,000\t3,240,000
\nInventory\t10,000,000\t9,300,000\t8,640,000
\nCurrent assets\t14,750,000\t13,575,000\t12,487,500
\nFixed assets\t65,000,000\t58,500,000\t52,650,000
\nTotal assets\t79,750,000\t72,075,000\t65,137,500
\nLiabilities & Equity\t\t \t
\nAccounts payable\t8,000,000\t7,200,000\t6,480,000
\nShort term debt\t1,000,000\t900,000\t810,000
\nCurrent liabilities\t9,000,000\t8,100,000\t7,290,000
\nLong term debt\t250,000\t250,000\t250,000
\nShareholder equity\t70,500,000\t63,725,000\t57,352,500
\nTotal equity & liabilities\t79,750,000\t72,075,000\t64,892,500
\nCash flow\t\t\t
\nNet income\t11,092,500\t7,944,000\t5,841,600
\nChange in current assets\t-1,175,000\t-1,087,500\t–
\nChange in current liabilities – short term debt\t800,000\t720,000\t–
\nNon-cash income\/expense\t6,500,000\t5,850,000\t5,265,000
\nOperating Cash Flow\t17,217,500\t13,426,500\t–
\nCapital expenditures\t-16,249,500\t-12,718,800\t-11,446,920
\nFixed asset sales\t0\t\t0
\nNew equity\t0\t0\t0
\nTotal cash flow\t968,000\t707,700\t–
\nDividends paid\t993,000\t730,200\t0
\nChange in debt\t100,000\t90,000\t–
\nChange in cash\t75,000\t67,500\t–
\nRatios\t\t\t
\nProfitability\t \t \t
\nGross Profit % Sales\t70.0%\t69.0%\t68.0%
\nNet Income % Sales\t5.5%\t4.4%\t3.6%
\nLiquidity\t \t\t
\nCurrent Assets\/Current Liabilities\t1.6\t1.7\t1.7
\nLeverage\t \t\t
\nTotal Debt\/Shareholder Equity\t0.0\t0.0\t0.0
\nDebt coverage\t \t\t
\nOperating Cash Flow\/Total Debt\t13.8\t11.7\t–
\nOperating Cash Flow\/Interest Expense\t38.3\t32.0\t–<\/p>\n
\nCOMPANY E – FINANCIAL HIGHLIGHTS
\n\t$ – Year to 31 December 2014
\nIncome statement\t
\nSales\t20,000,000
\nNet income\t8,000,000
\nBalance Sheet\t
\nCash and liquid investments\t1,000,000
\nOther current assets\t1,000,000
\nRetail pharmacy stores\t7,500,000
\nOther real estate\t1,000,000
\nTotal assets\t10,500,000
\nBank debt\t20,000
\nOther current liabilities\t1,000,000
\nShareholder equity\t9,480,000
\nTotal equity and liabilities\t10,500,000<\/p>\n
CREDIT RATING TABLE
\n\tRating Definition
\n1\tLeading position in its chosen markets, long and unblemished business performance record, strong and stable financial ratios, no foreseeable change which could cause its financial profile to deteriorate, easy access to debt markets, negligible risk of non-payment of financial obligations when due
\n2\tWell-positioned in its chosen markets, established business performance record, healthy financial ratios, no apparent vulnerability which could cause its financial profile to deteriorate, comfortable access to debt markets, very low risk of non-payment of financial obligations when due
\n3\tViable competitor in its chosen markets, short or fluctuating business performance record, most financial ratios at or above acceptable levels, some vulnerabilities which could cause its financial profile to deteriorate, reasonable access to debt markets subject to thorough financial disclosure and due diligence, low risk of non-payment of financial obligations when due
\n4\tWeak competitor in its chosen markets, uneven business performance record, several financial ratios below acceptable levels, significant vulnerability to deterioration in its financial profile, limited access to debt markets and only then with thorough financial disclosure and due diligence, moderate risk of non-payment of financial obligations when due
\n5\tStruggling commercially in its chosen markets, prolonged sub-standard business performance record, most financial ratios below acceptable levels, significant and immediate vulnerabilities to deterioration in its financial profile, very iimited access to debt markets and only then on onerous terms and conditions, high risk of non-payment of financial obligations when due
\n6\tMarginalized in its chosen markets, prolonged loss-making business performance record, financial ratios far below acceptable levels, high risk of further deterioration in financial profile, little or no access to debt markets, already delinquent in some of its financial obligations<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Course Financial Risk Management Assignment Credit Risk Exercise 4.1 Title Credit analysis and rating for working capital finance Due Date 20 February 2016 Description You are a commercial credit analyst at a bank. You receive the following request for working Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-6603","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/6603","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=6603"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/6603\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=6603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=6603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=6603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}