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" ... All question concepts long considered sacrosanct. Here are four messages they share: ... "
" ... As the pandemic has intensified, borrowers have challenged diminished protections, especially in covenant-lite leveraged loans. Borrowers have even tested first-lien loan only covenant-lite debt structures, which make up over 25% of leveraged loans. Along with continuing deterioration in credit protections, borrowers are essentially reworking the very top of capital structures. According to Hoque, “When deployed successfully, liability management transactions strike at the heart of what separates a first-lien term loan from other types of debt – its sacrosanct “senior secured” status.’ Moody’s Loan Covenant Quality Indicator (LCQI) continues to show the erosion of credit protection erosions. ... "
" ... Notre Dame’s traditional status as a football independent remains as sacrosanct as ever. ... "
" ... Tradition has a firm hold in the kitchens, with seven sacrosanct dishes: vitello tonnato, veal slices with creamy tuna sauce; veal tartare called carne cruda; the tiny meat-filled agnolotti called plin; the egg-rich tajarin; various braised brasato dishes; the lavish finanziera, made with chicken livers, gizzards, cockscombs, and porcini; and for dessert, a Marsala-laced cocoa and amaretti cookie custard called bonèt. ... "
" ... Yikes, that seems sacrosanct and goes against the prevailing wisdom about the revered safety aspects of self-driving cars. It seems like an impossible possibility. ... "