The Rising Influence of Rising Affluence

[jbog]

You seem to forget that Cliff had $4 billion in debt when they had ebita in the range of $1.2 -$2.2 billion. Now they recently did a equity raise which brought their debt down to $2.9, but their ebita will be in the $400 mil range.

That's debt 8x ebita. Will the banks put up with that? It seems like selling something is in order right after they get rid of management.