Lender protection, as measured by composite documentation scores, continues to weaken.
*Covenant Review’s Documentation Scores express the strength of an instrument’s covenant protections on a numerical scale of 1 (strongest) to 5 (weakest).
Source: Covenant Review
Private Credit Defaults 101: Back to School
As Labor Day approaches, the unofficial end of summer is upon us. But, before we get too sad, there is also the familiar back-to-school energy.