"Just before the last crisis, regulators gutted financial rules and even considered letting mega-corporations like Walmart own banks -- and here we go again," said Sen. Sherrod Brown.
Covid-19 notwithstanding, three factors will continue to drive changes in the nature of corporate payments, and treasurers should begin to take action this year.
Companies that may require a loan modification in the next few months should be looking, right now, at exactly what covenant relief they will need, and what concessions lenders may demand in exchange.
Some corporations have turned to pricier term loans or new credit lines rather than tapping existing ones, typically to stay in the good graces of lenders as recession looms.
