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What he did bequeath to his only son was the presidency of a bloated and stumbling enterprise, debts estimated at $1.3 billion and a tangled estate that quickly generated a struggle among the heirs.
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Government-sponsored enterprise debt also is counted as safer than traditional corporate debt by regulators when they assess the financial strength of banks.
Government-sponsored enterprise debt, including guarantees on mortgage-backed securities, now exceeds the size of the Treasury market, government statistics show.
The industry is also caught in a web of inter-enterprise debt: it owes 7 billion hryvnyas to its workers and suppliers, and is in turn owed 3 billion hryvnyas by its customers, mostly power stations.
A Treasury official waded into the debate over government-sponsored enterprises yesterday by releasing a letter she had sent to the Securities and Exchange Commission voicing concern about the way some of the enterprises' debt securities are marketed to small investors.
The apparel maker is highly leveraged: Its debt stands at 69% of its enterprise value (debt plus market cap of common shares, minus cash on hand).
These results were achieved with scant leverage: The average company has debt equal to less than 1% of its enterprise value (debt and preferred equity plus market value of common).
If the absolute tax take from firms remained unchanged, then their enterprise value (debt plus equity) would be unaffected.
Its enterprise value (debt plus market value of the equity) is only seven times that sum.
The company's enterprise value — debt plus market value of common stock — is a mere $2.1 billion.
With an enterprise value (debt plus market value of common) of $811 million, you are purchasing that capacity at $1.69.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com