Private credit and covenant monitoring built for the work
Read covenant terms straight from credit agreements and compliance certificates, track headroom each period, and flag breaches before they become a problem.
Credit teams track covenants, amendments, and borrower financials across credit agreements, compliance certificates, and a lot of email. The terms live in dense documents, the tested levels change with each amendment, and headroom is easy to lose track of until it is a problem.
Varanic reads the documents so the team does not have to. The agent extracts covenant definitions and tested levels, tracks headroom each period, and flags breaches and near-breaches. The analyst reviews the extraction against the source and signs off.
What it covers
- Credit agreement and compliance certificate extraction into structured terms
- Covenant headroom tracking with breach and near-breach alerts
- Amendment tracking, including how tested levels change over time
- SOFR and benchmark-rate math, payment waterfalls, and accruals
- Collateral registry and recovery-waterfall analysis
Why it is different
Most monitoring tools are equity-first and treat credit as an afterthought. Varanic was built to service loans as well as track equity positions, with the same human-in-the-loop verification and audit trail on every number.