21.8. Harwood Outboard manufactures outboard motors for relatively inexpensive motor boats. The firm is optimistic about its

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21.8. Harwood Outboard manufactures outboard motors for relatively inexpensive motor boats. The firm is optimistic about its long-term outlook, but its bond rating is only BB. Describe how you would manage Harwood’s liability stream if you believed that within two years Harwood’s credit rating would improve to A.

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Financial Markets And Corporate Strategy

ISBN: 9780071157612

2nd Edition

Authors: Mark Grinblatt, Sheridan Titman

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