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Covenant-Lite Loans
When reasonably uncommon, covenant-lite has transformed into the norm in both the U.S. and European leveraged loan areas, many many thanks to sustained investor demand when you look at the asset class. While commonly accepted, major questions regarding cov-lite continue. Chief included in this: exactly just just How will these credits fare if the default that is long-running finally turns, and loan defaults start to mount? Lees meer