All-time low as papers printed covers about ... (5)
I believe the answer is:
nadir
'all-time low' is the definition.
(I've seen this before)
'papers printed covers about' is the wordplay.
'papers' becomes 'ID' (identity papers).
'printed' becomes 'ran' (running is a kind of printing).
'covers' is an insertion indicator.
'about' says the letters should be written backwards.
'id' placed into 'ran' is 'ridan'.
'ridan' backwards is 'NADIR'.
'as' is the link.
(Other definitions for nadir that I've seen before include "businessman formerly escaping justice" , "Floor of drain in need of repair" , "Low-water mark" , "You can't sink lower!" , "The lowest point of anything" .)