Sifma urges changes to Moody’s covenant proposals

The Securities Industry and Financial Markets Association (Sifma) has called on Moody’s to take into account additional measures in its analysis of comments to the rating agency’s proposal to introduce a new framework for covenant research and assessment.

The plans by Moody’s to implement a more systematic approach to analysing indenture covenants will focus on certain key covenants it believes are critical for bondholder protection without overly hampering a company’s flexibility and ability to

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