Anti-crisis debt restructuring: specifics of implementing modern covenants
Анотація
The paper examines anti-crisis debt restructuring in Ukrainian corporate practice, focusing on the role of modern financial and non-financial covenants in ensuring contractual discipline and financial resilience under crisis conditions.The study emphasizes the use of standardized covenant definitions, a 13-week cash flow forecast as a monitoring tool, and harmonization with LMA/LSTA documentation to reduce agency costs and prevent technical breaches.The proposed approach enhances liquidity management, improves creditor-debtor coordination, and supports sustainable debt recovery.
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