US loan covenants sink to weakest level on record

By David Bell
18 Jan 2018

Moody’s Investors Service said on Thursday that quality of covenants in the US leveraged loan market have dropped to their weakest ever level.

Investor protections have slumped as investors pile into the loan market in search of yield, the report showed on Thursday.

“Borrowers are making the most of a wide-open loan market,” wrote Derek A. Gluckman, senior covenant officer at Moody’s. “As demand continues to outpace supply, pressure on covenant ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access:

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.