Impaired Credit

The deterioration of a borrower's credit rating.

Investopedia Says:
Any weakening of a company's finances will cause an impairment of credit. Consequently, it results in a reduction of the credit offered by lenders.

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Deterioration in the credit rating of a borrower, which may result in a reduction in the amount of credit made available by lenders. For example, a company may launch a product line that is a failure, and the resulting losses will seriously weaken the company's finances. Concerned lenders may reduce the firm's credit lines as a result. The same process can apply to an individual who has been late paying bills, or in an extreme case, has filed for bankruptcy protection. Also called adverse credit.