The scenario is common enough: following a slow quarter, a borrower misses a debt service coverage ratio (DSCR), fixed charge coverage ratio (FCCR), or other financial covenant test required under its ...

Although the use of liquidity covenants in distressed situations is a tried and tested approach by lenders, there is no “one size fits all” when it comes to the implementation of a liquidity testing ...

LONDON, April 1 (Reuters) - Newspaper publisher Mecom has announced a further extension to a covenant test date as part of ongoing talks with its banks, it said on Wednesday. Sign up here. The ...

LONDON March 30 (Reuters) - The multibillion pound financing for the increased private equity bid to buy Alliance Boots is set to test the European market with a controversial covenant-lite structure, ...