FI: Affirmative VS Negative Covenants
CFA Curriculum Vol 5 , Pg 335
Can some help me distinguish between affirmative and negative covenants?
I seem to be getting tripped off with the wording.
Prob 34 on pg 335 is confusing to me.
My guess is if a statement has "NO", then it is negative covenenat (that one should not do it).
But statement " dividend payout ratio below 30" seems to have nothing that tells me about "NO" or negative covenant |