Moody's publishes covenant assessment methodology

Moody's has published a methodology for detailed analysis of the covenants of non-financial corporate bond issuance. Moody's will now begin to issue its first covenant quality assessment reports, or CQAs, in North America and Europe.

The final CQA framework identifies the key covenants that Moody's believes can help protect investors from unforeseen negative credit events. The reports will also comment on additional covenants and provisions included in bond documentation that Moody's believes are

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