CreditPack.pdf
42 pages
p.14 · Revenue schedule
Extracted field
Revenue (LTM)
$0.0M
Matched
Copied by hand · no audit trail
Manual Data Extraction
Hours lost copying data across documents and one missed line item can mean a bad credit decision.
The Operating System for Private Credit
Close more deals. Underwrite with confidence. Stay ahead of risk.
Trusted by our partners
The gap
Credit Workflows Are Still Manual
Despite the scale and sophistication of modern credit markets, the underlying workflows remain inefficient.
Base_Case_Model_v14_FINAL.xlsx
fx=SUM(C2:C9)*(1+B4)/D72 errors
A
B
C
D
E
1.2
4.8
0.9
3.1
2.0
2.4
5.6
1.8
0.4
4.2
3.7
#REF!
6.1
0.8
2.9
0.6
2.3
5.4
1.1
#REF!
4.1
3.3
0.7
6.8
1.5
2.8
1.9
4.6
3.0
5.2
5.9
0.3
2.1
4.4
3.6
Circular reference in C4
Hardcoded override in E5
Broken link to Q2 tab
Spreadsheet-Built Models
One broken formula can distort an entire deal, and no one knows until it's too late.
Covenant monitor · Meridian Foods
Net leverage
0.0x
Q1
Q2
Q3
Q4
Now
Fixed charge coverage1.02xat risk
Min. liquidity$14.2Min compliance
Reporting deadlineT+3 dayslate
Reactive Covenant Monitoring
By the time you catch a covenant breach, it's already a portfolio problem.
Where the deal actually lives
Conflicting answers detected
Gmail
142 threads
Excel
27 versions
PDF reports
310 files
Slack
9 channels
Question: what is current net leverage?
Email thread · Jun 123.9x
Model v14 tab3.4x
Quarterly PDF p.314.1x
Three answers. No source of truth.
Fragmented Information
Critical insights are buried across tools, forcing teams to make decisions without the full picture.
The platform
One Platform Across the Credit Lifecycle
Every module works alone or together, building a compounding system of record as your portfolio grows.
Diligence Automation
Automatically extract financial statements, covenant terms, and operating metrics from borrower materials. AZ2 converts unstructured documents into structured credit data in seconds.
Credit Memo Generation
Instantly generate an initial credit screening memo from borrower materials. Surface key financial highlights, risk indicators, and deal eligibility before full underwriting begins.
Team Collaboration
Centralize credit analysis, memos, comments, and approvals in a single workspace. Ensure every stakeholder operates from the same information.
Portfolio Monitoring
Track borrower performance across your portfolio with real-time covenant monitoring. Detect emerging risk early and respond before it impacts returns.
Diligence · document intake
CreditPack_Q2.pdf
Revenue (LTM)$248.6Mp.14
Adj. EBITDA$61.2Mp.16
Net leverage3.4xp.31
Reviewed by 3 analystsReady in 38s
Screening memo · Meridian Foods
Good morning, Zoe
Ask anything across your deals, portfolio and precedents.
Add context
Ask anything across your deals & precedents…
Fast 4 sources
Credit screening memoDrafted in 42sDrafted
Meridian Foods screens eligible on size, sector and leverage. Net leverage of 3.4x sits inside mandate, with three items flagged for sponsor follow-up.
Revenue
$248.6M
EBITDA
$61.2M
Leverage
3.4x
Reviewers2 of 3 signed off
Marcus HaleCredit leadApproved
Priya RamanAnalystApproved
Elin SandbergRiskReviewingDeal workspace · Meridian Foods
Workspace members
Priya RamanAnalystMarcus HaleCredit leadElin SandbergRiskAdd team member
Add team members
Kenji ItoIC chairAddNadia OkoroLegalAddTom VasquezPortfolioAddInvestment committee decision
Approve
Greenlight the application when all criteria are met and risk sits inside limits
Approve with conditions
Proceed subject to additional covenants or reporting requirements
Defer to next IC
Hold pending updated financials or a further diligence workstream
Decline
Leverage or coverage ratios outside acceptable thresholds
Portfolio watchlist · 38 borrowers
In compliance
0
On watch
0
Breached
0
Meridian FoodsHeadroom 22%3.4xIn compliance
Halden LogisticsHeadroom 6%3.9xOn watch
Verity HealthHeadroom 31%2.8xIn compliance
Northbay RetailHeadroom −4%4.3xBreached
Halden Logistics
Senior secured · $62M commitment
Net leverage
3.9x
Interest cover
2.1x
Headroom
6%
Covenant tests
Q3 FY253.5xPass
Q4 FY253.7xPass
Q1 FY263.9x0.1x to trigger
Generate risk action plan
How it works
From Raw Documents to Actionable Credit Intelligence
Intake · Meridian Foods
Drop borrower files
PDF · XLSX · DOCX, any format
Credit_Agreement.pdf
Credit agreement142 pages
FY25_Financials.xlsx
Financials9 sheets
Diligence_Memo.docx
Diligence memo24 pages
Portfolio_June.pdf
Portfolio report38 pages
Ready to structure, 4 sources, one credit file
Upload credit agreements, financial statements, diligence materials, and portfolio reports.
Integrations
Connects to the Tools Credit Teams Already Use
AZ2 sits on top of your existing stack. Microsoft 365, deal CRM, data rooms and market data providers all feed the credit file, so borrower information flows in without changing how your team works.
“Everything already lived in Box, Excel and Outlook. AZ2 read it all in a day. Now the whole credit team works from one picture of the portfolio.”
Head of CreditKP Credit PartnersFactSet
Pull market and issuer data into monitoring without leaving the workspace.
DealCloud
Carry origination and relationship context into diligence and monitoring.
S&P Capital IQ
Reference ratings and credit data alongside internal underwriting.
Outlook
Capture borrower correspondence and reporting attachments straight from the inbox.
Excel
An add-in that pushes live model and covenant data straight into the workbooks your team already builds.
SharePoint / OneDrive
Ingest deal files and reporting packs from the document libraries your firm already runs on.
Teams
Route covenant alerts and monitoring updates into the channels your credit team watches.
Salesforce
Keep pipeline and sponsor relationship history beside every credit file.
Affinity
Pull relationship intelligence into sourcing and sponsor coverage.
Datasite
Read diligence rooms as documents land, without waiting for a manual export.
Intralinks
Sync deal room activity and documents into a single live credit file.
Box
Ingest confidential credit agreements and borrower files straight from secure storage.
DocuSign
Pull signed agreements and amendments into the live credit record.
PitchBook
Bring comparable transaction and sponsor data into every credit memo.
Preqin
Reference fund and sponsor track record data during diligence.
Bloomberg
Bring market pricing and issuer data into portfolio monitoring views.
iLevel
Sync portfolio KPIs and valuations for firm-wide reporting.
Allvue
Read fund and portfolio data for consolidated performance reporting.
Snowflake
Warehouse every structured credit field for firm-wide reporting and analytics.
QuickBooks
Read borrower ledgers and management accounts for monthly performance tracking, with borrower permission.
NetSuite
Pull borrower financials directly from the ERP, with borrower permission.
Plaid
Monitor borrower cash positions and transactions, with borrower permission.
Who it's for
AZ2 Supports Teams Across Investment Lifecycle
Inbound deal · intake
Teaser_Aldridge.pdf
$84.2MRevenue
21%EBITDA
3.4xLeverage
SectorLogistics
FacilityUnitranche · $45M
PricingS + 575
AZ2 fitStrong match
Origination
Quickly analyze borrower materials and surface key financial insights.
Credit memo · draft
Memo · 4 of 6 sections
Business overview
Financial analysis
Structure & terms
Risks & mitigants
Covenant package
RecommendationProceed · with conditions
Underwriting
Accelerate credit memos and investment analysis.
Portfolio · 34 borrowers
Portfolio status31 healthy
3 need attentionHalden LogisticsAll tests passed
Meridian FoodsReview due
Aldridge HoldingsAll tests passed
Next portfolio review · 12 September
Portfolio Management
Continuously monitor borrower performance and covenant compliance.
Risk signals
Morning risk review
Two signals need your attention
Leverage driftHigh
Liquidity coverWatch
Revenue qualityStable
AZ2 traced both changes to the latest borrower reporting package.
Risk Management
Identify emerging risk across the credit portfolio before it becomes default.
Investor pack · Q2
LP_Report_Q2.xlsxLive data
Performance summary
Borrower schedules
Valuation appendix
Net IRR14.2%
Deployed capital$612M
Distributions$88M
Ready for review18 pages
Investor Reporting
Assemble LP reporting packs from live portfolio data instead of manual roll-ups.
Audit trail
Covenant test logged09:12
SystemMemo approved11:40
R. AlvarezReport exported16:02
M. OseiBorrower file updated17:26
SystemImmutable records1,204
Compliance & Audit
Every test, approval and export is logged as an immutable audit record.
Credit committee
3 votes recorded
Aldridge HoldingsApproved
Meridian FoodsPending
Halden LogisticsApproved
Belmont ToolingDeclined
Conditions
Quarterly reporting within 30 days; leverage ≤ 4.0x by Q4.
Credit Committee
Bring memos, votes and conditions into one decision record for every deal.
Borrower · Halden Logistics
Net leverage3.1x
In complianceHeadroom0.9x
Next test30 Sep
Interest cover3.2x
ReportingOn time
Latest borrower updateReporting received on time
Asset Management
Stay close to each borrower with continuous performance and headroom tracking.
Why AZ2
Purpose-Built for Private Credit
Most AI tools focus on generic analysis or research. AZ2 is designed specifically for the workflows used by private credit lenders.
Workflow
AZ2Built for private credit
Traditional workflow
Borrower documents
AI-structured credit intelligence
Manual data extraction
Financial modeling
Real-time covenant monitoring
Spreadsheet modeling
Team coordination
Centralized collaboration
Email collaboration
Portfolio visibility
Continuous portfolio risk visibility
Quarterly monitoring
Enterprise-grade security. Your data is encrypted both in transit and at rest, using the most robust encryption standards.
SOC 2ISO 27001CCPAGDPR
FAQ
Questions Credit Teams Ask Us First
Credit agreements, financial statements, diligence packs and portfolio reports are read in place. AZ2 extracts terms, covenants and financials into a structured credit file while keeping every figure linked back to its source page.
Every filing and reporting pack is tested against the covenant set on arrival. Headroom, trend and breach risk update continuously, and alerts route to the people responsible for that borrower.
A general model reasons about language. AZ2 reasons about credit, and it is built around your workflow: your covenant definitions, borrower history, policy thresholds and approval path. Every answer is linked to its source page, so it works as the intelligence of record rather than a chat window.
No. AZ2 connects to the systems you already use: data rooms, accounting ledgers, warehouses and inboxes, and keeps the credit file in sync as new material lands.
Customer data is encrypted in transit and at rest and logically isolated by firm. We do not sell customer data or share it with other customers; disclosures are limited to contracted service providers needed to operate AZ2, legal requirements, or customer direction. Customers can enable email or authenticator-app MFA. Supported financial outputs include source-linked evidence. SOC 2 Type II audit is in progress.
Teams typically move from signed NDA to indicative term sheet in days rather than weeks, because the first-pass credit file builds itself as documents land. The email agent chases missing statements, KYC items and reporting packs on its own, which removes most of the manual document gathering an analyst does each week. Covenant testing and quarterly reporting run continuously rather than as an end-of-quarter scramble.
Most teams are live within one week: connectors first, then a historical backfill of the current portfolio, then covenant sets and reporting templates.