Covenants
This page aggregates all research regarding covenants published by Moody's Investors Service.
  • SUMMARY
  • REPORTS

  • SECTOR IN-DEPTH
    23 Jan 2020|Moody's Investors Service
    The LCQI worsened by 11 basis points to 4.02 compared to the prior quarter, placing it well into weak protection territory. The findings suggest that risks are increasing and that while investors are voicing caution, they are not effectively pushing back on permissive covenant terms.

    SECTOR IN-DEPTH
    22 Jan 2020|Moody's Investors Service
    2019 average score reached all-time weakest level. The average covenant quality (CQ) score for Asian full-package high-yield bonds in 2019 weakened by 6% to an all-time weakest yearly score of 3.28 (moderate ↓) from 3.08 (moderate) in 2018.

    SECTOR IN-DEPTH
    16 Jan 2020|Moody's Investors Service
    Our indicator weakened modestly to 4.47 in December due to a high concentration of Ba-rated bonds.
    Bond Covenant Quality
    Bond Covenant Qualtiy Assessments
    Moody's Investors Service
    List of all Bond Covenant Quality Snapshots to date.
    Loan Covenant Quality
    Loan Covenant Quality Assessments
    Moody's Investors Service
    List of all Loan Covenant Quality Snapshots to date. 

    KEY CONTACTS
    Evan Friedman
    SVP – Head of Covenant Research
    Evan.Friedman@moodys.com
    Jake Avayou
    VP-Senior Covenant Officer
    Jake.Avayou@moodys.com
    Enam Hoque
    VP-Senior Covenant Officer
    Enam.Hoque@moodys.com
    Derek Gluckman
    VP - Senior Covenant Officer
    Derek.Gluckman@moodys.com
    Lisa Gundy
    VP - Senior Covenant Officer
    Lisa.Gundy@moodys.com