Covenant Review

Covenant Trends - 7/25/2022

Percentage of Loans with Asset Sale Sweep Step-downs (Past performance is no guarantee of future results.) Contact: Steven Miller

Covenant Trends - 7/18/2022

Distribution of Synergies & Cost Savings EBITDA Addback Time Horizons (for Actions Resulting in Addbacks) (Past performance is no guarantee of future results.) Contact: Steven Miller

Covenant Trends - 7/11/2022

Percentage of Loans that Cleared with the Least Protective Documentation Scores (5/5+/4-) (Past performance is no guarantee of future results.) Contact: Steven Miller

Covenant Trends - 7/4/2022

Percentage of Loans with F&C Tranche / Pro Forma EBITDA >0.9x (Past performance is no guarantee of future results.) Contact: Steven Miller

Covenant Trends - 6/27/2022

Distribution of Accordion F&C Tranche EBITDA Grower Caps (L3M) (Past performance is no guarantee of future results.) Contact: Steven Miller

Covenant Trends - 6/20/2022

Average New-Issue Clearing Spreads (Single B) and Covenant Terms for PE-Backed First-Lien Institutional Loans (Past performance is no guarantee of future results.) Contact: Steven Miller

Covenant Trends - 6/13/2022

Percentage of Loans that Cleared with the Least Protective Documentation Scores (5/5+/4-) Monthly (Past performance is no guarantee of future results.) Contact: Steven Miller

Covenant Trends - 6/6/2022

Flex Trends: Pricing (% of all Flexes that Decrease All-in Spread) and Covenants (% with Zero Doc Score Flex) (Past performance is no guarantee of future results.) Contact: Steven Miller