medium · Corporate Credit Analysis covenants
A maintenance leverage covenant steps down from 4.75x to 4.25x at the end of Q4. The borrower has $850 million in debt.
What is the minimum EBITDA required for the LTM period ending Q4 to remain in compliance with the new step-down level?
- $212 million
- $200 million
- $361 million
- $179 million
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