Relaxing covenant requirements to win competitors in the race to fund deals is leaving sub-investment grade loan investors without their last line of defense, according to an analysis by Moody’s Ratings.
Dealmaking Competition Erodes Junk Loans’ Last Line of Defense
Relaxing covenant requirements to win competitors in the race to fund deals is leaving sub-investment grade loan investors without their last line of defense, according to an analysis by Moody’s Ratings.




