COVENANT MONITOR · 2026-06-10 Edition I · consultance.ai

Growth
Hides
Leverage.

The fastest grower can be the one closest to a breach. Enter a portfolio company's numbers. Recompute the covenant before the test date.

01 //

The numbers

company tape

LTM EBITDA ($M)

Net debt ($M)

Covenant max total leverage (x)

Covenant min interest coverage (x)

Interest rate on net debt (%)

EBITDA decline per quarter 8%

02 //

live

Current leverage -- Net debt / LTM EBITDA

Interest coverage -- LTM EBITDA / annual interest

Annual interest -- Net debt times the interest rate

Leverage headroom -- vs the max leverage covenant

Coverage headroom -- vs the min coverage covenant

Both tests -- pass requires both

-- company status

Time to breach Calculating

Quarter	EBITDA ($M)	Leverage	Coverage	Flag

03 //

Calculating

04 //

4 entries

ILPA Reporting Template, Institutional Limited Partners Association, portfolio company performance and fee reporting standard
ASC 820 Fair Value Measurement, FASB, the basis for marking portfolio holdings to fair value
Credit agreement maintenance covenants, Total Net Leverage and Interest Coverage, the two tests measured at each quarterly compliance date
Claude for Financial Services and the Chronograph PE portfolio monitoring connector, Anthropic, 2026