3 Comments
 

My guess is that they mean a model that has a debt waterfall where you are able to determine the amount of cash a company has available for debt paydown over a particular timeframe. Much like an LBO.

"For all the tribulations in our lives, for all the troubles that remain in the world, the decline of violence is an accomplishment we can savor, and an impetus to cherish the forces of civilization and enlightenment that made it possible."
 

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