Inside the High Yield Debt Market with Rajay Bagaria
Excess Returns
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The Importance of Covenants
I want to ask you about some of the terms that people might not totally understand. Ranking is just another term for seniority; if you're higher ranked, it means you have better credit protections. Coordination is a more complex topic because there's lots of different types of subordination. Covenants outline the obligations an issuer must agree to live by.
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