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- Oba


Uhhhh please check the real yield diff in bbb rated bonds vs junk rated bonds bbb (lowest investment grade) is around 5.5% atm lowest high yield/junk is at 7.3...You can still get loans with that rating just at higher interest rates. The rates steve pays is already quite high a fraction of a percentage point higher won't change much.
Would not call that a fraction of a percentage point higher..
Also us struggling to pay back our debt when we are bbb rated does not sound like a sound financial decision to top that off with even more debt but this time junk debt.
Yes will find somebody to provide us the money even if we re junk rated but it wont last to long till we have to default on that or till we have to pull another rabbit out of a hat in order to not file for bankruptcy.
Also last time we sold bonds we sold them at a coupon off 6.75% and that was in early 2022 back than we were B rated and average B yield was around 4.5%...
on top of that the risk free was still 0 or negative back then.
Refinancing now is gonna be expensive and it s gonna be a lot more expensive then it was the last time around.