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A Pragmatist’s Guide to Leveraged Finance: Credit Analysis for Bonds and Bank Debt
book

A Pragmatist’s Guide to Leveraged Finance: Credit Analysis for Bonds and Bank Debt

by Robert S. Kricheff
February 2012
Intermediate to advanced content levelIntermediate to advanced
288 pages
5h 25m
English
Pearson
Content preview from A Pragmatist’s Guide to Leveraged Finance: Credit Analysis for Bonds and Bank Debt

19. Management and Ownership

What’s in this chapter:

• Why ownership of the company can matter to the debt holders

• Why management’s history can matter to debt holders

• How to find information on ownership and management

An analyst should always understand a company’s ownership structure and also have a sense of management’s goals and track record whenever possible.

Remember that ownership and management’s first obligation is to the shareholders and that sometimes what is good for shareholders may not be good for debt holders, and vice versa.

As an analyst, you hope to have access to both management and ownership, through conference calls and meetings. You should try to gain insight into what is going on with the business’s operations and what ...

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Publisher Resources

ISBN: 9780132855266Purchase book