Leveraged finance defaults are rising as the impact of COVID-19 is felt, but covenant-lite terms, government intervention and support from financial sponsors have mitigated fallout from the pandemic.
Leveraged finance...more
HEADLINES
- Default levels remain historically low at 1 per cent to 2 per cent
- Prevalence of cov-lite loans in Europe may be concealing some underperformance, but there are no conventional triggers for lenders to...more