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Xtract Research and LSTA Announce New Partnership in Bank Loan Credit Agreement Analysis

Posted on: Friday, 20 March 2009, 08:05 CDT

RIDGEFIELD, Conn., March 20 /PRNewswire/ -- Xtract Research LLC and the Loan Syndications and Trading Association (LSTA) are pleased to announce the launch of their new bank loan credit agreement analysis product, LSTA Xtract Bank Debt Review.

LSTA Xtract Bank Debt Review provides a comprehensive analysis of credit agreements covering both newly issued loans and loans in the secondary market for public and private documents. This online service allows clients to view a side-by-side comparison of Xtract's proprietary baseline agreement to the credit agreement under review. Reports include commentary outlining any differences between the two, including defined terms. The reports also provide a detailed summary of the key terms of the loan, prepayment provisions, financial covenants, affirmative and negative covenants, defaults and remedies, amendment provisions and permitted assignments. Clients have the ability to consult with Xtract's team of finance attorneys and research analysts to discuss any document related issues.

"Full understanding of all the terms and conditions of a credit agreement is critical for loan market participants, and the new LSTA Xtract Bank Debt Review service will ensure that investors understand their rights as lenders," said Michael Knox, CFA, President of Xtract Research.

"LSTA Xtract Bank Debt Review is a powerful tool allowing all market participants easy navigation through the complexity of a credit agreement," said R. Bram Smith, Interim Executive Director, LSTA. "We are very pleased to be able of offer a product that increases transparency and efficiency to the loan market as a whole."

All reports are updated for amendments to the credit agreement and provide links to the source document. Xtract's leading edge technology includes a library of critical loan documents bookmarked for easy navigation, with the ability for users to add custom bookmarks, notes and highlights. Clients may also upload their own documents and search the universe of loans using key words or phrases. This technology allows for creation of a completely proprietary system for each client.

About Xtract Research

Xtract Research is an independent, fixed income research firm specializing in covenant research for convertible, high yield, investment grade securities and credit agreements. Its clients consist of many of the world's preeminent hedge funds, investment managers and investment banking firms. Xtract's services give analysts, traders and portfolio managers the tools necessary to quickly and efficiently navigate and analyze key documents critical to the investment process.

About LSTA

The Loan Syndications and Trading Association (LSTA) promotes a fair, orderly and efficient corporate loan market and provides leadership in advancing the interests of all market participants. The LSTA undertakes a wide variety of activities to foster the development of policies and market practices designed to promote just and equitable marketplace principles and to encourage cooperation and coordination with firms facilitating transactions in loans and related claims.

Website: www.bankdebtreview.com

SOURCE Xtract Research LLC

Source: PR Newswire

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