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Debt Explained launches Aggressive Covenant Terms Scoring

Debt Explained, the leading leverage finance data and analysis company, is delighted to announce the launch of its Aggressive Covenant Terms Score service. ACTS will provide clarity and transparency on the strength and weakness of the covenant package of each deal coming to market plus past scores on over 600 deals in a searchable data base.

In today’s fast-paced bond market, there is more information than ever before. Bond market participants need to access, evaluate, understand and act quickly. Based upon our unique market-leading bonds database and analysis systems, Debt Explained is able to provide immediate, valuable and actionable insight presented in an easy to read visual format. Scoring is a mixture of deal specific and comparison to market data.


ACTS scores are:

  • Robust - based upon 500+ data points per deal;
  • Consistent - Y/N criteria for all criteria;
  • Immediate - top quartile comparison updated continually; and
  • Factual and independent - based upon data not opinion.

The score is a combination of static and dynamic data. Scores are calculated with reference to each individual deal and where that deal sits in relation to more than 600 deals in the Market Maker database. ACTS criteria has been determined following a lengthy consultation with major market participants.

Stephen Mostyn-Williams, Chairman of Debt Explained, explained that ACTS is a revolution in covenant analysis.

“We are proud to be launch this unique scoring system. Covenant analysis is no longer a matter of opinion. ACTS is an objective numerical answer to a previously subjective assessment – bringing transparency, comparability and key issue identification to the European high yield bond market. With ACTS covenant analysis finally enters the digital age. Our ACTS database opens a whole new world of trend determination, portfolio covenant risk analysis and multiple other uses.”


If you would like to know more about ACTS, please click here or contact us. 


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