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Keywords:Oil price shock 

Journal Article
Do Adverse Oil Price Shocks Change Loan Contract Terms for Energy Firms?

This article examined whether the relationship between creditworthiness and loan spreads for energy firms in the syndicated loan market changed after the 2014 oil-price shock. {{p}} The authors use syndicated loans, which are jointly funded by several financial institutions, because the syndicated loan market is a major source of debt financing for oil firms. Credit conditions tightened following the oil-price shock in mid-2014.
Economic Review , Issue Q IV , Pages 59-86

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