Americas Core Credit: Webinar Replay - Covenants 101: Value Leakage (Oct. 29, 2021)
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Addressing Value Leakage in Retail Companies
This chapter explores potential measures to address value leakage in retail companies, such as restricting IP transfers, capping investments in subsidiaries, and implementing maintenance tests. The speakers discuss examples of value leakage and investor reactions, as well as the amendments made in Allied Universal bonds to protect bondholders. They also examine the process of designating subsidiaries and the broadness of credit document baskets.
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