This course will focus on covenants and other features designed to protect investor interests and emphasize ways in which these defensive tools can be undermined by creative drafting.
The publicly available methodology of our sister company, Moody's Investors Service, for evaluating covenants in bond indentures will be discussed, and participants will learn how the framework for assessing covenant quality can be applied to their daily work.
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Gain insights into covenants and documentation so you can:
Identify important features in standard documents.
Structure documents effectively for proper protection and understand what document structures are appropriate for various types of debt.
Understand how the strength of covenants can be mitigated by weak definitions, ambiguous language, exceptions, carve-outs, and the like.
Understand how our sister company, Moody's Investors Service rates covenant quality and defines protective markers.
This is a sample only. Upon request, Moody’s Analytics shall provide an invitation letter for those attendees who require a visa. You can request the visa invitation letter via email to firstname.lastname@example.org only after your registration for the respective course is completed and the proof of payment is attached in the request email.