Please Note
We brought you to this page based on your search query. If this isn't what you are looking for, you can continue to Search Results for ""
The maximum number of items you can export is 3,000. Please reduce your list by using the filtering tool to the left.
Close

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 

Danny Gao
Associate Analyst
Danny.Gao@moodys.com

Irina Brooklier
Associate Analyst
Irina.Brooklier@moodys.com

Raven Burnett
Associate Analyst
Raven.Burnett@moodys.com

Cristina Cincilei
Associate Analyst
Cristina.Cincilei@moodys.com

Find An Analyst

Go

Covenants

Highlights

  • 20 Oct 2016
    • High-yield bond covenant quality deteriorates year-over-year
      Of the 14 qualifying North American non-financial corporate sectors we analyzed, the bond covenant quality of seven declined during the 12 months ending 30 September 2016. Construction and Homebuilding, followed by Retail and Business Products and Metals and Mining, offered the weakest investor protections, while Media & Publishing came in as the most protective sector, followed by Technology and Healthcare... Full Report
  • 11 Oct 2016
    • US high-yield bond covenant quality improves in September; Caa/Ca-rated bonds, E&P issuers return to market
      The Covenant Quality Index came in at 4.32 last month compared with 4.34 in August, and is at its most stable since 2013. September saw the re-entry of bonds rated Caa or Ca, as well as issuers from the E&P sector, with both offering better-than-average covenant protections in order to clear the market... Press Release l Full Report
  • 14 Sep 2016
    • Aggressive Incremental Facility Structures Put Investors at Risk
      Incremental facilities enable new lenders to make loans under an existing facility's guarantee and security agreements, without requiring additional inter-creditor negotiations. The weakening structure of these provisions pose investor risk by permitting a large, open-ended amount of incremental debt and increasing default and repayment risk, while diluting an existing loan facility's guarantees and liens... Press Release l Full Report

Research & Ratings

Research
  DateDocument Type Title Issuer/Entity
08 Dec 2016 Covenant Quality Assessment GTT Communications, Inc.: Covenant Quality Pre-Sale Snapshot: $300m _% Senior Notes due 2024 GTT Communications, Inc.
08 Dec 2016 Covenant Quality Assessment Xerox Business Services LLC: Covenant Quality Post-Sale Snapshot: $510m 10.500% Senior Notes due 2024 Xerox Business Services LLC
08 Dec 2016 Covenant Quality Assessment Tervita Corporation: Covenant Quality Pre-Sale Snapshot: US$_m (principal amount to yield ≥ C$475m) _% Senior Secured Notes due 2021 Tervita Corporation
08 Dec 2016 Covenant Quality Assessment Ronshine China Holdings Limited: Covenant Quality Post-Sale Snapshot: US$175m 6.95% Senior Notes due 2019 Ronshine China Holdings Limited
07 Dec 2016 Covenant Quality Assessment Ritchie Bros. Auctioneers Incorporated: Covenant Quality Pre-Sale Snapshot: $500m _% Senior Notes due 2025 Ritchie Bros. Auctioneers Incorporated
06 Dec 2016 Covenant Quality Assessment NCL Corporation Limited: Covenant Quality Pre-Sale Snapshot: $700m _% Senior Notes due 2021 NCL Corporation Limited
06 Dec 2016 Covenant Quality Assessment West Corporation: Loan Covenant Quality Snapshot West Corporation
05 Dec 2016 Covenant Quality Assessment Rowan Companies, Inc.: Covenant Quality Pre-Sale Snapshot: $400m _% Senior Notes due 2025 Rowan Companies, Inc.
02 Dec 2016 Covenant Quality Assessment Nabors Industries, Inc.: Covenant Quality Pre-Sale Snapshot: $_m _% Notes due 2023 Nabors Industries Inc.
02 Dec 2016 Covenant Quality Assessment Alta Mesa Holdings, LP: Covenant Quality Pre-Sale Snapshot: $450m _% Senior Notes due 2024 Alta Mesa Holdings, LP
Complete Your Profile
Please complete your profile before submitting your comments.
We're Sorry