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Value-adjusted equity ratio slightly below covenant in Q2. Liquidity was decent in Q2, but was drained after quarter-end. Several measures to find a long-term sustainable solution.
This year we have 69 high yield issuers in our booklet, including a one-page summary of each credit and key focus areas and any credit triggers.
Q4 was better than feared, the outlook is weak, but the credit remains attractive
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