Compare Covenants

curl --request GET \
  --url https://api.example.com/v1/covenants/compare

<?php

$curl = curl_init();

curl_setopt_array($curl, [
  CURLOPT_URL => "https://api.example.com/v1/covenants/compare",
  CURLOPT_RETURNTRANSFER => true,
  CURLOPT_ENCODING => "",
  CURLOPT_MAXREDIRS => 10,
  CURLOPT_TIMEOUT => 30,
  CURLOPT_HTTP_VERSION => CURL_HTTP_VERSION_1_1,
  CURLOPT_CUSTOMREQUEST => "GET",
]);

$response = curl_exec($curl);
$err = curl_error($curl);

curl_close($curl);

if ($err) {
  echo "cURL Error #:" . $err;
} else {
  echo $response;
}

package main

import (
	"fmt"
	"net/http"
	"io"
)

func main() {

	url := "https://api.example.com/v1/covenants/compare"

	req, _ := http.NewRequest("GET", url, nil)

	res, _ := http.DefaultClient.Do(req)

	defer res.Body.Close()
	body, _ := io.ReadAll(res.Body)

	fmt.Println(string(body))

}

require 'uri'
require 'net/http'

url = URI("https://api.example.com/v1/covenants/compare")

http = Net::HTTP.new(url.host, url.port)
http.use_ssl = true

request = Net::HTTP::Get.new(url)

response = http.request(request)
puts response.read_body

GET

covenants

compare

Compare Covenants

curl --request GET \
  --url https://api.example.com/v1/covenants/compare

<?php

$curl = curl_init();

curl_setopt_array($curl, [
  CURLOPT_URL => "https://api.example.com/v1/covenants/compare",
  CURLOPT_RETURNTRANSFER => true,
  CURLOPT_ENCODING => "",
  CURLOPT_MAXREDIRS => 10,
  CURLOPT_TIMEOUT => 30,
  CURLOPT_HTTP_VERSION => CURL_HTTP_VERSION_1_1,
  CURLOPT_CUSTOMREQUEST => "GET",
]);

$response = curl_exec($curl);
$err = curl_error($curl);

curl_close($curl);

if ($err) {
  echo "cURL Error #:" . $err;
} else {
  echo $response;
}

package main

import (
	"fmt"
	"net/http"
	"io"
)

func main() {

	url := "https://api.example.com/v1/covenants/compare"

	req, _ := http.NewRequest("GET", url, nil)

	res, _ := http.DefaultClient.Do(req)

	defer res.Body.Close()
	body, _ := io.ReadAll(res.Body)

	fmt.Println(string(body))

}

require 'uri'
require 'net/http'

url = URI("https://api.example.com/v1/covenants/compare")

http = Net::HTTP.new(url.host, url.port)
http.use_ssl = true

request = Net::HTTP::Get.new(url)

response = http.request(request)
puts response.read_body

Overview

Compare covenants across multiple companies or instruments. Useful for relative value analysis, identifying covenant-lite issuers, and understanding credit agreement differences.

Request

string

required

Comma-separated list of company tickers to compare.Example: CHTR,DAL,AMC

string

Filter by covenant type: financial, negative, incurrence, protective

string

Filter by specific metric: leverage_ratio, interest_coverage, etc.

Examples

Compare Leverage Covenants

curl "https://api.debtstack.ai/v1/covenants/compare?ticker=CHTR,DAL,AMC&test_metric=leverage_ratio" \
  -H "X-API-Key: ds_xxxxx"

import requests

response = requests.get(
    "https://api.debtstack.ai/v1/covenants/compare",
    params={
        "ticker": "CHTR,DAL,AMC",
        "test_metric": "leverage_ratio"
    },
    headers={"X-API-Key": "ds_xxxxx"}
)

# Check which companies have leverage covenants
for ticker, data in response.json()["companies"].items():
    if data["covenant_count"] == 0:
        print(f"{ticker}: No leverage covenant (covenant-lite)")
    else:
        for cov in data["covenants"]:
            print(f"{ticker}: {cov['threshold_type']} {cov['threshold_value']}x")

Response

{
  "tickers": ["CHTR", "DAL", "AMC"],
  "companies": {
    "CHTR": {
      "name": "Charter Communications, Inc.",
      "covenant_count": 1,
      "covenants": [
        {
          "covenant_type": "incurrence",
          "covenant_name": "Leverage Ratio Incurrence Test",
          "test_metric": "leverage_ratio",
          "threshold_value": 6.0,
          "threshold_type": "maximum",
          "test_frequency": "incurrence",
          "has_step_down": false
        }
      ]
    },
    "DAL": {
      "name": "Delta Air Lines, Inc.",
      "covenant_count": 1,
      "covenants": [
        {
          "covenant_type": "incurrence",
          "covenant_name": "Junior Lien Debt incurrence test",
          "test_metric": "leverage_ratio",
          "threshold_value": 1.6,
          "threshold_type": "maximum",
          "test_frequency": "incurrence",
          "has_step_down": false
        }
      ]
    },
    "AMC": {
      "name": "AMC Entertainment Holdings, Inc.",
      "covenant_count": 0,
      "covenants": []
    }
  },
  "comparison_matrix": [
    {
      "metric": "leverage_ratio",
      "CHTR": {
        "threshold_value": 6.0,
        "threshold_type": "maximum",
        "test_frequency": "incurrence"
      },
      "DAL": {
        "threshold_value": 1.6,
        "threshold_type": "maximum",
        "test_frequency": "incurrence"
      },
      "AMC": null
    }
  ],
  "presence_matrix": [
    {
      "covenant_name": "Leverage Ratio Incurrence Test",
      "CHTR": true,
      "DAL": false,
      "AMC": false
    },
    {
      "covenant_name": "Junior Lien Debt incurrence test",
      "CHTR": false,
      "DAL": true,
      "AMC": false
    }
  ],
  "meta": {
    "tickers_compared": 3,
    "total_covenants": 2,
    "filter_test_metric": "leverage_ratio"
  }
}

Response Fields

companies

Object keyed by ticker containing:

name: Company name
covenant_count: Number of matching covenants
covenants: Array of covenant details

comparison_matrix

Side-by-side comparison of the same metric across companies. Useful for comparing threshold values directly.

presence_matrix

Shows which companies have each covenant type. Useful for identifying covenant-lite issuers.

Use Cases

Screen for Covenant-Lite Issuers

response = requests.get(
    "https://api.debtstack.ai/v1/covenants/compare",
    params={"ticker": "CHTR,ATUS,LUMN", "covenant_type": "financial"},
    headers={"X-API-Key": "ds_xxxxx"}
)

for ticker, data in response.json()["companies"].items():
    if data["covenant_count"] == 0:
        print(f"{ticker}: Covenant-lite (no financial maintenance covenants)")

Compare Protective Covenants

curl "https://api.debtstack.ai/v1/covenants/compare?ticker=RIG,VAL,DO&covenant_type=protective" \
  -H "X-API-Key: ds_xxxxx"

Sector-Wide Covenant Analysis

# Compare covenants across telecom sector
tickers = "CHTR,ATUS,LUMN,FYBR,T,VZ,TMUS"
response = requests.get(
    "https://api.debtstack.ai/v1/covenants/compare",
    params={"ticker": tickers, "test_metric": "leverage_ratio"},
    headers={"X-API-Key": "ds_xxxxx"}
)

matrix = response.json()["comparison_matrix"]
for row in matrix:
    if row["metric"] == "leverage_ratio":
        for ticker in tickers.split(","):
            cov = row.get(ticker)
            if cov:
                print(f"{ticker}: Max {cov['threshold_value']}x leverage")
            else:
                print(f"{ticker}: No leverage covenant")

Overview

Companies

Bonds

Financials

Collateral

Entities

Documents

Covenants

Ratings

Market Data

Batch

Compare Covenants

Overview

Request

Examples

Compare Leverage Covenants

Response

Response Fields

companies

comparison_matrix

presence_matrix

Use Cases

Screen for Covenant-Lite Issuers

Compare Protective Covenants

Sector-Wide Covenant Analysis

​Overview

​Request

​Examples

​Compare Leverage Covenants

​Response

​Response Fields

​companies

​comparison_matrix

​presence_matrix

​Use Cases

​Screen for Covenant-Lite Issuers

​Compare Protective Covenants

​Sector-Wide Covenant Analysis

Overview

Request

Examples

Compare Leverage Covenants

Response

Response Fields

companies

comparison_matrix

presence_matrix

Use Cases

Screen for Covenant-Lite Issuers

Compare Protective Covenants

Sector-Wide Covenant Analysis