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Balance-sheet risk doesn't go away just because all your debt instruments are fixed-rate.

Possibly.

But a going concern with a fixed-rate loan portfolio and sufficient net revenue to cover financial costs, investment and maintenance of its capital plant can tell The Market to sod off and value its assets according to its own internal discount rate.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Thu May 20th, 2010 at 04:20:12 PM EST
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