How sensitivity and stress-test analysis works for Direct-Hold Solutions
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Rescope remaining LP-specific claims (accredited-investor-eligibility.md's NI 45-106 scope, direct-hold-framework.md's general-partner mention, perpetual-equity-model.md's Take Over Bid mechanism, principal-alignment-fee-preservation.md's offering-cost-reimbursement/no-NAV-fee clauses) to Canada/US explicitly; convert 6 dangling plain-text 'Interest Coverage Ratio' references to proper wikilinks pointing at cre-financial-metrics.md across ifrs-forecast-methodology and sensitivity-and-stress-test-methodology (EN+ES)
@@ -23,7 +23,7 @@ Every Direct-Hold Solution is modeled against a $100.00 capital-preservation ref ## Before you read this This article assumes familiarity with the interest-coverage covenant itself — see Interest Coverage Ratio for what the 1.20x floor is and why it is set where it is; this article does not re-explain the covenant, it walks through how the covenant is stress-tested. It also assumes familiarity with net asset value (NAV) and the other non-IFRS measures this methodology reports against — see [[non-ifrs-measures-explained]]. No modeling software or account access is required beyond that: this article describes a methodology, not a tool. This article assumes familiarity with the interest-coverage covenant itself — see [[cre-financial-metrics|Interest Coverage Ratio]] for what the 1.20x floor is and why it is set where it is; this article does not re-explain the covenant, it walks through how the covenant is stress-tested. It also assumes familiarity with net asset value (NAV) and the other non-IFRS measures this methodology reports against — see [[non-ifrs-measures-explained]]. No modeling software or account access is required beyond that: this article describes a methodology, not a tool. ## How the scenarios are constructed @@ -51,4 +51,4 @@ Every stress and shock scenario in this methodology is modeled and illustrative. ## Next steps Read Interest Coverage Ratio for the covenant this methodology stress-tests, and [[non-ifrs-measures-explained]] for how NAV and the other supplementary measures used throughout this methodology are defined and reconciled to IFRS. See also [[forward-looking-statements-advisory|the Forward-Looking Statements Advisory]] for the caution language that governs every illustrative scenario in this article. Read [[cre-financial-metrics|Interest Coverage Ratio]] for the covenant this methodology stress-tests, and [[non-ifrs-measures-explained]] for how NAV and the other supplementary measures used throughout this methodology are defined and reconciled to IFRS. See also [[forward-looking-statements-advisory|the Forward-Looking Statements Advisory]] for the caution language that governs every illustrative scenario in this article.