Which of the following refers to restrictions in loan and bond agreements that encourage or forbid certain actions by the borrower?单项选择题

题目图片
A

a. Implicit contracts.

B

b. Covenants.

C

c. RAROC.

D

d. Credit rationing.

E

e. Mortality rates.

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Why are covenant-lite loans potentially riskier for lenders?

Covenants are restrictions written into bond and loan contracts either limiting or encouraging the borrower's actions that affect the probability of repayment.

Suppose a new accounting rule causes a company to revalue its inventory, take a one-time hit to earnings and violate an interest coverage covenant. What would you expect its bank lender to do?

The purpose of a covenant is:

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