Case Study
The C Word (In The World Of Pensions)
The cornerstone of this was embracing the ‘C’ word. The C word gets some bad press. I can see why. It’s personal and sponsors can be uncomfortable with it getting too much air time. I am of course referring to Covenant, but possibly not as you know it. Like many we undertake near term affordability and risk covenant assessment. However, what was missing was a clear understanding of what mix of cash and asset risk sits best alongside l