They are, but they are relatively short term, 1-2 years. Plus companies don't just take out one, but they take them out regularly (and have done so for quite a

They are, but they are relatively short term, 1-2 years. Plus companies don't just take out one, but they take them out regularly (and have done so for quite a while now). Since they revolve the credit, they effectively become variable interest rate. So when interest rates go up, they go up on 5-15% of the total debt every month or so. This does generate a delay. Unfortunately public companies don't have to disclose their financing conditions, so data on this is inaccurate at best unless you work at a bank.