Valitana LLC announced today that it partnered with Covenant Review, one of Fitch Solutions’ leveraged finance intelligence products. Covenant Review’s team consists of lawyers with expertise in analyzing indentures, credit agreements and other contracts with the goal of determining creditors rights and defining exposure to transaction specific risks. They assign an overall covenant score to each individual loan as well as scores for a few different categories, such as EBITDA, covenant amendments, collateral protection, and default protection.
Customers of Valitana Analytics will now see covenant scores for all leveraged loans that have facility sizes larger than $1 billion. Common customers of both platforms will have access to all Covenant Review scores.
“Valitana Analytics users now have access to loan analysis prepared by the experts at Covenant Review, allowing them to more accurately assess the level of risk in each CLO and make better informed investment decisions.”, said Valitana’s Managing Partner Alex Belgrade.
Valitana’s partnership with Covenant Review is one of many recent integrations with external data providers. Other integrations include those with Moody’s, S&P, Fitch, IHS Markit, ICE/IDC, and Dealscribe.
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About Valitana Analytics
Valitana Analytics empowers investment professionals with the opportunity to evaluate US and Euro collateralized loan obligations (CLOs)by leveraging numerous third-party data providers and incorporating advanced and proprietary analytics. Valitana Analytics is cloud hosted and can be accessed via web browser, Excel plugin, and programmatic API.
About Covenant Review
Covenant Review, found in 2006, is a leading provider of analysis of leveraged finance deals. The company has completed a detailed covenant analysis on over 5,000 bonds and loans, and have covered over 1,400 bond and loan issuers in both new issue and secondary market.