High-Yield Investor Protections Remain Weak, Finds Moody’s

Covenant quality protection improved a bit in March, but remained near record low levels, a new report from Moody’s Investors Service has found. The average score in March was 4.25, an improvement from February’s 4.51. But the firm’s covenant quality index (CQI), a three month rolling average, weakened to 4.36 from 4.33 in February, near [...]