Investor group demands stronger bond protection

Fixed-income investment managers have formed a group, the Credit Roundtable, to develop a set of model provisions for investment-grade corporate bond covenants. The group has launched a consultation setting out its model covenants, which it hopes will enhance credit stability and balance investor and issuer concerns.

"Investment-grade corporate bonds held by America's retirement, insurance and savings plans have lost billions of dollars in market value in recent years as a result of downgrades ca

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