CovenantIQ

What they say they do

CovenantIQ describes covenant monitoring for private credit funds and banks: collecting borrower financials and reporting packages, normalizing them with AI, mapping credit agreement definitions to that data, recalculating covenants each period and flagging emerging breaches early, with outputs linked to borrower data.

Capabilities

• reporting collection · source: www.covenantiq.io
• financial extraction · source: www.covenantiq.io
• covenant basket extraction · source: www.covenantiq.io/product/covenant-monitoring
• covenant tests · source: www.covenantiq.io/product/covenant-monitoring
• portfolio monitoring · source: www.covenantiq.io

Use cases this maps to

• PCT-001 Every loan a BDC marks below 90 cents, ranked and linked to the filing via portfolio monitoring
• PCT-002 Covenants, baskets and add-backs out of a 200-page credit agreement, every line cited to a section via covenant basket extraction
• PCT-007 Don't trust the compliance cert: re-run the covenant math from the monthly pack, automatically via financial extraction, covenant tests
• PCT-008 EBITDA add-back autopsy: how much of this borrower's EBITDA exists only in the credit agreement? via covenant basket extraction
• PCT-010 Lender-on-lender violence radar: scan every credit agreement for J.Crew, Serta, and Chewy trapdoors via covenant basket extraction
• PCT-071 Every borrower's quarterly pack, spread into one monitoring model: covenant headroom tracked quarter by quarter via reporting collection, financial extraction, covenant tests
• PCT-073 Recurring revenue loan: test ARR leverage and minimum liquidity, and check whether the borrower can flip to EBITDA via covenant tests
• PCT-074 Amendment or waiver request in: what is being asked, who has to consent, and what it does to the covenant via covenant tests
• PCT-076 Early-warning brief across the book: financials, reporting behaviour, requests and news in one cited watchlist draft via portfolio monitoring