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high-yield financing |
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As liquidity from traditional sources dries up, owners and investors will turn to high-yield financing organizations as viable sources for capital. What people don't realize is that as part of these boom-times, credit quality in high-yield financing has gone down. Its high-yield financing in 1992 and 1993 clearly exhibited the weakness of the company, sporting coupons at 11 3/4 and 12 percent. |
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