We talked about loan covenants in passing several weeks ago in class when we were discussing managing cash in/outflows, but the Journal of Accountancy has  a short piece about things tightening up in this area and it ties in somewhat with the performance measures we discuss in Chapter 23.  Things like Return on Sales ratios are potentially becoming more important not only as performance measures but to remain in compliance with loan terms.

http://www.journalofaccountancy.com/Issues/2009/May/20091424.htm