题目
An affirmative covenant is most likely to stipulate:
选项
A.limits on the issuer’s leverage ratio.
B.how the proceeds of the bond issue will be used.
C.the maximum percentage of the issuer’s gross assets that can be sold.
答案
B
解析
： B is correct. Affirmative (or positive) covenants enumerate what issuers are required to do and are typically administrative in nature. A common affirmative covenant describes what the issuer intends to do with the proceeds from the bond issue. A and C are incorrect because imposing a limit on the issuer’s leverage ratio or on the percentage of the issuer’s gross assets that can be sold are negative covenants. Negative covenants prevent the issuer from taking actions that could reduce its ability to make interest payments and repay the principal. ： B是正确的。肯定条款列举了发行人必须做的事情，通常是行政性质的。一个共同的肯定性条款描述了发行人打算如何处理债券发行的收益。 A和C是不正确的，因为限制发行人的杠杆比率或发行人可出售总资产的百分比是否定条款。否定条款阻止发行人采取可能降低其支付利息和偿还本金能力的行动。