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If the debt is termed out [ie it is for the duration of the concession], then I cannot see how anyone would refinance them when one takes into account the already tight covenants and structures.
McConnell focuses on loans to big companies like Charter Communications and Georgia-Pacific sporting tight covenants (restrictions on things like debt-equity ratios).
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Finance director Paul Hollingworth said he acknowledged concerns among analysts that the company would face a tight covenant test on its borrowings in December.
Because of tight terms in its loan covenants, Rite Aid can't raise more money without lender approvals.
Consistent with an alleviation of moral hazard problems, tighter capital expenditure restrictions (performance covenants) are more likely to facilitate ex post creditor control through covenant renegotiations (violations).
Analysts believe a covenant test in December could prove particularly tight.
Some husbands certainly did exercise tight control over money, but the basic middle-class covenant of the time ceded power to women over everything domestic, including the family budget.
It extends covenants.
That's what covenants are for.
Tight tights?
—Doctrines and Covenants 88 118″ "PLAYFUL MOMENTS".
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