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12.05.2015 21:20:00
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Moody's: North American high-yield bond covenant quality improves, but remains weak overall
New York, May 12, 2015 -- Moody's North American Covenant Quality Index improved last month on the strength of secured bond issuances, the rating agency says in a new report. The index, a three-month rolling average, improved to 4.26 in April from 4.36 in March on Moody's five-point scale, in which 1.0 denotes the strongest investor protections and 5.0, the weakest. The average covenant quality score for the month of April alone came in at 4.12, compared to 4.25 in March.
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