but wait for a chapter 11 waterfall that pays 100% on Senior Debt and then 70% on remaining debt (junior - non secured etc.) -- and then wipes out JPS and common to zero as not all debt was paid at 100% .
the semantic difference is semantic -- until it is not and is very real (As a broker - advisor -- if I said JPS was debt I would be fired in a nano second)
2008 taught us that over and over and over -- debt v any preferred
(other than the one case of the seriously unique TRUST PFD which are seriously different in many ways and are the lowest form of debt as that is the relationship to the parent company to the trust - and preferred equity the relationship of investor to the trust (third party) - look it up if you want - Trust PFD )
not sure here what matters and what does not? I own both common and JPS ---- but know they are both equity NOTE for example - nobody talks about any - zero - debt that F and F owe as that just goes along smoothly ------ leaving JPS and common in same boat just maybe in different seats in that SAME boat
News 
Market Data 
Discover 
AI
