hard · Private Credit underwriting-credit-analysis
Apex Manufacturing is seeking a $200 million senior facility. Reported EBITDA is $40.0 million. The sponsor includes a $4.5 million add-back for 'Run-rate Revenue' from a contract signed in month 10 of the LTM period. As a Director of Credit, you apply a 50% haircut to this specific adjustment.
What is the 'Lender-Adjusted' total leverage ratio?
- 4.73x
- 4.52x
- 5.00x
- 4.14x
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