Bond investors balk at use of ‘ebitdac’ to skirt debt restrictions …growing trend of companies reporting “earnings before coronavirus” [FT]
Bond investors have hit out at the growing trend of companies reporting “earnings before coronavirus”, warning that this new pandemic-era financial metric could allow businesses to use imaginary numbers to raise more debt than they can handle. Fund managers have long complained about the heavy adjustments riskier companies make to their earnings when borrowing from … Read more