The Impact of Tighter Credit.

• Position: Brief Article - Statistical Data Included

Tough times mean tougher terms for borrowers -- especially risky ones. A random sampling of 303 members of the Turnaround Management Association earlier this year reveal what corporate renewal professionals are observing as a result of credit tightening on troubled companies. Company hurdles in getting a loan:

* 8 out of 10 see troubled companies facing more difficulty getting refinancing with existing lenders and more difficulty finding replacement financing.

* 7 out of 10 note more difficult conditions to be met before loans can be closed.

* 6 out of 10 believe more restrictive covenants are in the loan documents to protect lenders.

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