It’s no secret, debt compliance is an arduous task, a task that is often easy to procrastinate. The vast number of complex covenants makes it difficult to have control of the many moving parts in the process. Yet, many companies today do not have a debt compliance process in place to fully understand the agreements for the quarterly CFO Certification Letter.
Partially a consequence of the good old days of “cheap and easy credit,” many companies have limited debt compliance processes that focuses are a limited number of “headline” covenants: ratios, baskets and perhaps some non-financial covenants. While the very nature of debt agreements – they’re complicated and voluminous – calls for process implementation, few companies have the time, expertise or technology to spend the man-hours setting up rock-solid processes for the quarterly and annual debt compliance responsibilities. Download our white paper, Treasury’s Debt Compliance Responsibilities, and ensure your processes are complete.