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Because they have multiple different bonds outstanding with differing maturity dates...failure to pay back one is indicative that there may be successive failur
by ndesaulniers 5y ago
Because they have multiple different bonds outstanding with differing maturity dates...failure to pay back one is indicative that there may be successive failures after this one.
- toomuchtodo 5y agoThere are cross default provisions across the bonds. A default on one is a default on all 23 outstanding bonds.