Covenant screener
178 covenants across 94 credit facilities.
| Company | Covenant | Limit now | Next step | Ratio | Headroom vs today's limit | Tested | Margin | Size | Maturity | Agent | Industry |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Janus Living, Inc.Not measured | Secured Debt RatioDebt to capitalization | 0.40x | n/a | Not measured | Not measured | quarterly | 65–155 bps | $1.25bn | Mar 2030 | Bank of America, N.A. | Real Estate Investment Trusts |
| Janus Living, Inc.Not measured | Fixed Charge Coverage RatioFixed charge coverage | 1.50x | n/a | Not measured | Not measured | quarterly | 65–155 bps | $1.25bn | Mar 2030 | Bank of America, N.A. | Real Estate Investment Trusts |
| Janus Living, Inc.Not measured | Unsecured Leverage RatioDebt to capitalization | 0.60x | n/a | Not measured | Not measured | quarterly | 65–155 bps | $1.25bn | Mar 2030 | Bank of America, N.A. | Real Estate Investment Trusts |
| Janus Living, Inc.Not measured | Consolidated Tangible Net WorthNet worth | $2.04bn | n/a | Not measured | Not measured | quarterly | 65–155 bps | $1.25bn | Mar 2030 | Bank of America, N.A. | Real Estate Investment Trusts |
| Janus Living, Inc.Not measured | Unsecured Interest Coverage RatioInterest coverage | 1.75x | n/a | Not measured | Not measured | quarterly | 65–155 bps | $1.25bn | Mar 2030 | Bank of America, N.A. | Real Estate Investment Trusts |
| Schneider National, Inc.Not measured | Consolidated Net WorthNet worth | $1.99bn | n/a | Not measured | Not measured | quarterly | 100–175 bps | $350m | Sep 2031 | JPMorgan Chase Bank, N.A. | Trucking (No Local) |
| Summit Hotel Properties, Inc.Not measured | Minimum Consolidated Tangible Net WorthNet worth | $1.67bn | n/a | Not measured | Not measured | other | 135–230 bps | $50m | n/a | BANK OF AMERICA, N.A. | Real Estate Investment Trusts |
| Summit Hotel Properties, Inc.Not measured | Minimum Consolidated Fixed Charge Coverage RatioFixed charge coverage | 1.50x | n/a | Not measured | Not measured | quarterly | 135–230 bps | $50m | n/a | BANK OF AMERICA, N.A. | Real Estate Investment Trusts |
| Summit Hotel Properties, Inc.Not measured | Maximum Secured Leverage RatioDebt to capitalization | 0.45x | n/a | Not measured | Not measured | quarterly | 135–230 bps | $50m | n/a | BANK OF AMERICA, N.A. | Real Estate Investment Trusts |
| Summit Hotel Properties, Inc.Not measured | Maximum Secured Recourse Leverage RatioDebt to capitalization | 0.10x | n/a | Not measured | Not measured | quarterly | 135–230 bps | $50m | n/a | BANK OF AMERICA, N.A. | Real Estate Investment Trusts |
| Summit Hotel Properties, Inc.Not measured | Maximum Unsecured Leverage Ratio (Unencumbered Asset Pool)Debt to capitalization | 0.60x | n/a | Not measured | Not measured | quarterly | 135–230 bps | $50m | n/a | BANK OF AMERICA, N.A. | Real Estate Investment Trusts |
| Summit Hotel Properties, Inc.Not measured | Minimum Unencumbered Properties (Unencumbered Asset Pool)Other | 20.00 | n/a | Not measured | Not measured | other | 135–230 bps | $50m | n/a | BANK OF AMERICA, N.A. | Real Estate Investment Trusts |
| SPIRE INCNot measured | Maximum Consolidated Capitalization RatioDebt to capitalization | 0.70x | n/a | Not measured | Not measured | quarterly | 85 bps | $800m | n/a | Bank of Montreal | Natural Gas Distribution |
| Ares Management CorpNot measured | Debt to Adjusted EBITDANet leverage | 4.00x | n/a | Not measured | Not measured | quarterly | 75–125 bps | n/a | Mar 2029 | Bank of America, N.A. | Investment Advice |
| Ares Management CorpNot measured | Assets Under ManagementOther | 179,825,526,099 | n/a | Not measured | Not measured | other | 75–125 bps | n/a | Mar 2029 | Bank of America, N.A. | Investment Advice |
| PRINCIPAL FINANCIAL GROUP INCNot measured | Total Debt to Total CapitalDebt to capitalization | 0.35x | n/a | Not measured | Not measured | other | 75–125 bps | $900m | Sep 2031 | WELLS FARGO BANK, NATIONAL ASSOCIATION | Accident & Health Insurance |
| PRINCIPAL FINANCIAL GROUP INCNot measured | Minimum Statutory Surplus (PLIC)Other | 2,885,208,297 | n/a | Not measured | Not measured | other | 75–125 bps | $900m | Sep 2031 | WELLS FARGO BANK, NATIONAL ASSOCIATION | Accident & Health Insurance |
| CENTERPOINT ENERGY RESOURCES CORPNot measured | Ratio of Consolidated Indebtedness for Borrowed Money to Consolidated CapitalizationDebt to capitalization | 0.68x | n/a | Not measured | Not measured | quarterly | 113–200 bps | $2.2bn | Sep 2031 | JPMORGAN CHASE BANK, N.A. | Natural Gas Transmisison & Distribution |
| Xylem Inc.Not measured | Leverage RatioTotal leverage | 3.50x | n/a | Not measured | Not measured | other | 92–130 bps | n/a | n/a | CITIBANK, N.A. | Pumps & Pumping Equipment |
| Limbach Holdings, Inc.Not measured | Minimum Consolidated Fixed Charge Coverage RatioFixed charge coverage | 1.15x | n/a | Not measured | Not measured | quarterly | n/a | $300m | Sep 2031 | PNC Bank, National Association | Construction - Special Trade Contractors |
| SELECTIS HEALTH, INC.Not measured | Minimum Portfolio Actual Debt Service Coverage RatioFixed charge coverage | 1.65x | n/a | Not measured | Not measured | quarterly | n/a | n/a | n/a | Milrose Capital, LLC | Real Estate Investment Trusts |
| DPC Holdings PLCNot measured | Total Net Leverage RatioNet leverage | 3.00x | n/a | Not measured | Not measured | other | 125–235 bps | $325m | Sep 2029 | Barclays Bank PLC | Nonferrous Foundries (Castings) |
| DPC Holdings PLCNot measured | Interest Coverage RatioInterest coverage | 3.00x | n/a | Not measured | Not measured | other | 125–235 bps | $325m | Sep 2029 | Barclays Bank PLC | Nonferrous Foundries (Castings) |
| Blue Owl Technology Finance Corp.Not measured | Minimum Net WorthNet worth | $4.94bn | n/a | Not measured | Not measured | quarterly | n/a | $150m | Sep 2032 | Not stated | n/a |
| Blue Owl Technology Finance Corp.Not measured | Asset Coverage RatioOther | 1.50 | n/a | Not measured | Not measured | quarterly | n/a | $150m | Sep 2032 | Not stated | n/a |
| NeoVolta Inc.Not measured | Minimum Cash CovenantMinimum liquidity | $5m | n/a | Not measured | Not measured | other | n/a | $20m | Mar 2028 | MONROE CAPITAL MANAGEMENT ADVISORS, LLC | Miscellaneous Electrical Machinery, Equipment & Supplies |
| AIR T INCNot measured | Leverage Ratio (Senior Debt to Combined EBITDA)Other | 3.00 | n/a | Not measured | Not measured | quarterly | 225–275 bps | $40m | Dec 2026 | Not stated | Air Courier Services |
| PBT Land & Minerals, Inc.Not measured | Consolidated Total Leverage RatioNet leverage | 3.50x | n/a | Not measured | Not measured | quarterly | 225–325 bps | $250m | May 2031 | JPMorgan Chase Bank, N.A. | Oil Royalty Traders |
| PBT Land & Minerals, Inc.Not measured | Current RatioOther | 1.00 | n/a | Not measured | Not measured | quarterly | 225–325 bps | $250m | May 2031 | JPMorgan Chase Bank, N.A. | Oil Royalty Traders |
| IDEX CORP /DE/Not measured | Net Leverage RatioNet leverage | 3.50x | n/a | Not measured | Not measured | quarterly | 80–130 bps | $800m | Sep 2031 | Bank of America, N.A. | Pumps & Pumping Equipment |
| CAL-MAINE FOODS INCNot measured | Total Funded Debt to Capitalization RatioDebt to capitalization | 0.50x | n/a | Not measured | Not measured | quarterly | n/a | n/a | n/a | BMO Harris Bank N.A. | Agricultural Prod-Livestock & Animal Specialties |
| CAL-MAINE FOODS INCNot measured | Minimum Tangible Net WorthNet worth | $1.5bn | n/a | Not measured | Not measured | quarterly | n/a | n/a | n/a | BMO Harris Bank N.A. | Agricultural Prod-Livestock & Animal Specialties |
| SPIRE INCNot measured | Maximum Consolidated Capitalization RatioDebt to capitalization | 0.70x | n/a | Not measured | Not measured | quarterly | 80 bps | $400m | n/a | Mizuho Bank, Ltd. | Natural Gas Distribution |
| PENNANTPARK INVESTMENT CORPNot measured | Consolidated Asset Coverage RatioOther | 1.50 | n/a | Not measured | Not measured | quarterly | n/a | $64m | Sep 2029 | Not stated | n/a |
| MSC INCOME FUND, INC.Not measured | Asset Coverage RatioOther | 1.50 | n/a | Not measured | Not measured | other | n/a | n/a | Sep 2029 | Not stated | n/a |
| MSC INCOME FUND, INC.Not measured | Minimum Consolidated Net WorthNet worth | $440m | n/a | Not measured | Not measured | quarterly | n/a | n/a | Sep 2029 | Not stated | n/a |
| CATERPILLAR INCNot measured | Consolidated Net Worth (Caterpillar)Net worth | $9bn | n/a | Not measured | Not measured | other | n/a | $200m | Aug 2027 | Citibank, N.A. | Construction Machinery & Equip |
| CATERPILLAR INCNot measured | CFSC Leverage Ratio (Debt to Net Worth) – OngoingOther | 10.00 | n/a | Not measured | Not measured | other | n/a | $200m | Aug 2027 | Citibank, N.A. | Construction Machinery & Equip |
| CATERPILLAR INCNot measured | CFSC Leverage Ratio (Debt to Net Worth) – Year-EndOther | 10.00 | n/a | Not measured | Not measured | annual | n/a | $200m | Aug 2027 | Citibank, N.A. | Construction Machinery & Equip |
| CATERPILLAR INCNot measured | CFSC Interest Coverage RatioInterest coverage | 1.15x | n/a | Not measured | Not measured | quarterly | n/a | $200m | Aug 2027 | Citibank, N.A. | Construction Machinery & Equip |
| TPG Private Equity Opportunities, L.P.Not measured | LTV RatioOther | 0.25 | n/a | Not measured | Not measured | other | 300 bps | n/a | Aug 2027 | WELLS FARGO BANK, NATIONAL ASSOCIATION | Commodity Contracts Brokers & Dealers |
| TPG Private Equity Opportunities, L.P.Not measured | Minimum Diversity RequirementOther | 10.00 | n/a | Not measured | Not measured | other | 300 bps | n/a | Aug 2027 | WELLS FARGO BANK, NATIONAL ASSOCIATION | Commodity Contracts Brokers & Dealers |
| FirstEnergy Pennsylvania Electric CoNot measured | Debt to Capitalization RatioDebt to capitalization | 0.65x | n/a | Not measured | Not measured | quarterly | 88 bps | $950m | Oct 2029 | MIZUHO BANK, LTD. | Electric Services |
| CATERPILLAR FINANCIAL SERVICES CORPNot measured | Consolidated Net Worth (Caterpillar)Net worth | $9bn | n/a | Not measured | Not measured | other | n/a | $100m | Aug 2027 | CITIBANK, N.A. | Miscellaneous Business Credit Institution |
| CATERPILLAR FINANCIAL SERVICES CORPNot measured | CFSC Leverage Ratio (Debt to Consolidated Net Worth)Other | 10.00 | n/a | Not measured | Not measured | other | n/a | $100m | Aug 2027 | CITIBANK, N.A. | Miscellaneous Business Credit Institution |
| CATERPILLAR FINANCIAL SERVICES CORPNot measured | CFSC Interest Coverage RatioInterest coverage | 1.15x | n/a | Not measured | Not measured | quarterly | n/a | $100m | Aug 2027 | CITIBANK, N.A. | Miscellaneous Business Credit Institution |
| Camping World Holdings, Inc.Not measured | Minimum Consolidated Debt Service Coverage RatioFixed charge coverage | 1.10x | n/a | Not measured | Not measured | quarterly | 230 bps | $175m | Aug 2031 | Manufacturers and Traders Trust Company | Retail-Auto Dealers & Gasoline Stations |
| CHOICE HOTELS INTERNATIONAL INC /DENot measured | Consolidated Fixed Charge Coverage RatioFixed charge coverage | 2.50x | n/a | Not measured | Not measured | springing | 125 bps | $500m | Aug 2029 | WELLS FARGO BANK, NATIONAL ASSOCIATION | Hotels & Motels |
| DIGI INTERNATIONAL INCNot measured | Minimum Interest Coverage RatioInterest coverage | 3.00x | n/a | Not measured | Not measured | quarterly | 125–263 bps | $350m | n/a | BMO BANK N.A. | Computer Communications Equipment |
| DIGI INTERNATIONAL INCNot measured | Maximum Total Net Leverage RatioNet leverage | 3.50x | n/a | Not measured | Not measured | quarterly | 125–263 bps | $350m | n/a | BMO BANK N.A. | Computer Communications Equipment |
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