# Figure 1 public source note

Primary source: Scott Dyreng, Elia Ferracuti, Robert Hills and Matthew Kubic, *Measurement Error when Estimating Covenant Violations*, retained November 2024 institutional preprint, 93 pages including Internet Appendix.

- Institutional locator: https://sites.temple.edu/lnaveen/files/2024/11/Elia_Ferracuti_paper.pdf
- SSRN record: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3931427
- Later journal identity: https://doi.org/10.1016/j.jacceco.2026.101937
- Figure values: Table 3 Panel B, printed p.47 / PDF p.48.
- Definitions and sample construction: Sections 3.1–3.2 and 4.2–4.3; the study's `true` quantities are issuer-reported contractual values.
- Reported common population: 14,623 covenant observations.
- Reported counts/rates: 158/1.08%, 943/6.45%, 2,457/16.80%, and 2,854/19.52%.

Table 3 Panel B of the retained version was inspected in text and visually. The source paper, table image and microdata are not redistributed. The later 2026 journal article is not assumed byte- or table-identical. The selected disclosure sample is not all loans, all covenant observations, or a private-credit prevalence estimate. The source does not provide observation-level transition data, so the independently redrawn figure compares aggregate apparent violation rates and does not claim that a particular number of individual classifications changed. This is a transcription/recalculation check, not an independent replication.