Meridian Industries is a sponsor-backed industrial group with £1.8bn of senior debt. Recent results show EBITDA down approximately 15% against plan, with leverage increasing from 5.5x to 6.3x.
Covenant headroom has narrowed to c.10%, and the next reporting cycle is expected to confirm further deterioration. The situation is not yet critical, but directionally negative.
Your role is to manage this position as conditions evolve. What matters is not just the decision - it's how it changes your position.
This is an illustrative environment.
In practice, GovernanceRehearsal is configured using your own situations, stakeholder dynamics, and decision patterns.
The objective is not to replicate a generic scenario, but to reflect how your team actually operates under pressure.
Typical environments are built using recent situations from your portfolio.