Material Adverse Change Clauses in Loan Agreements and Current Trends and Risks
DBRS Limited (DBRS Morningstar) published a commentary on how material adverse change clauses are generally used and applied in loan agreements, titled “Material Adverse Change Clauses in Loan Agreements and Current Trends and Risks.” Additionally, DBRS Morningstar discusses how some market participants have exempted the impacts of the Coronavirus Disease (COVID-19) from material adverse change provisions, and the risks associated with overly broad clauses.
DBRS Morningstar is a global credit ratings business with 700 employees in eight offices globally. DBRS and Morningstar Credit Ratings are committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry.
Together, we are the world’s fourth largest credit ratings agency and a market leader in Canada, the U.S. and Europe in multiple asset classes. We rate more than 2,600 issuers and 54,000 securities worldwide and are driven to bring more clarity, diversity and responsiveness to the ratings process. Our approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources. For more details visit us at dbrs.com.
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