Saipem, "No Worse" Ratio Tests, ESG Ratchets and Step-downs

<p>The 9fin content and analytics team wrap up the week's HY and leveraged loans deals, head of covenant research Caitlin Carey discusses "no worse" ratio tests, credit analysts Josh Latham and Alex Manolopoulos talk the good, the bad and the ugly of ESG margin ratchets and coupon step-downs and editor Chris Haffenden gives us the latest on Saipem.</p><p>0:00 - Intro<br>00:53 - Levfin wrap<br>01:31 - Covenant close-up: "No worse" ratio tests<br>11:06 - Please raise responsibly: ESG ratchets and step-downs - the good, the bad and the ugly<br>16:07 - Deep discussion: Saipem</p>