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Facing revenue drought, middle-market companies, PE owners talk covenant relief

May 12, 2020 - SNL European Financials Daily
Financial Results

The shared goal is keeping these smaller entities viable. So far, private equity shops and private lenders have been happy to provide new revolving credits. But the situation will become more complicated as the economic hardship drags on.

Companies backed by private equity sponsors and their private credit lenders are gearing up for tough talks about how to bridge the abyss of revenue lost from coronavirus-related shutdowns. And lawyers are combing through loan covenants to identify how bo...