Might be off base here but if they are already debt above Capital Trusts or equal they are still above Preferreds and Commons...this shift in their position only seems to guarantee them some future payout but either way they are above us. So, no harm no foul. IMO
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.