Cutting the Clutter: Risk-Based Covenant Management

As many treasury and finance professionals will attest, organizing covenants by the legal categories of affirmative, negative, financial and nonfinancial is not very helpful. A better approach is to classify covenants by lender objective and risk. Using lender...

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Default Lines: Best Practices in Debt Compliance

Debt Compliance is difficult but necessary The most critical enterprise risk for many companies is ensuring that the company maintains full access to the funds required for daily business needs, investment and dividends. Other enterprise risks can cripple a company,...

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12 Steps for Treasury to Take to Avoid Debt Default

A primary treasury objective is to maintain and maximize access to the capital and debt markets at the lowest cost – which means consents before the fact rather than waivers after the fact. And since “stuff happens,” treasury needs to pro-actively talk to the lenders about current problems, issues, or potential events that might affect access to those markets.

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The Difference Between In-House vs. SaaS

Did you know many CFOs sign the quarterly certificate without a process that confirms and documents the compliance with all of the agreements’ covenants? Add to that, most companies have difficulties accurately understanding and interpreting their agreements in the first place.

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Top 5 Steps to Avoid a Default

Global corporate defaults reached 104 in 2016 – the fastest pace of defaults since the financial crisis in 2009. CNBC says that S&P expects the U.S. corporate trailing-12-month speculative-grade default rate to rise to 5.1 percent by September 2017.

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Automating Your Debt Compliance Process

Debt compliance risk may be the most overlooked enterprise liability a company faces. It’s rarely mentioned in any enterprise risk list, yet, a covenant violation can shut down a company, destroy its reputation, and crater its market cap.

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Why CFOs and Treasurers Should Consider Debt Compliance Software

Did you know many CFOs sign the quarterly certificate without a process that confirms and documents the compliance with all of the agreements’ covenants? It’s true. And given the high probability of a covenant violation for less than investment grade companies, that’s scary since a default can devastate a company and ruin lives.

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