This corresponds directly to the bond’s Loan-To-Value (LTV) level in a company’s capital structure. For example the Senior Secured Debt LTV % is the LTV of the Senior Debt and the Total Debt LTV is the LTV of all Unsecured/Subordinated Debt. This tells us how much equity value supports the bonds that are in issue.
Credit Statistics
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Written by Rezaah Ahmad
Updated over a week ago