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The Journal of Private Equity

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Primary Article

Adventures in Unrated Debt Investing

Acting Like An Owner

Kenneth R. Yager and Andrew H. Connor
The Journal of Private Equity Spring 2006, 9 (2) 97-101; DOI: https://doi.org/10.3905/jpe.2006.628341
Kenneth R. Yager II
Managing Consultant at Morris-Anderson & Associates, Des Plaines,IL 60018.
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  • For correspondence: kyager@morris-anderson.com
Andrew H. Connor
With Schwartz, Cooper,Greenberger & Krauss,Chtd., Chicago, IL.
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Abstract

Liquidity is provided in greater amounts and variety each year in the form of junior debt to finance companies. Thus, a significant amount of junior debt now resides with a large number of unrated middle-market companies. Veterans and new investors have arrived at this adventure in unrated debt investing from different backgrounds, skills, and agendas. This article provides a framework for protective action against downside risk in what is a relatively illiquid, covenant-light market where hesitation and uncertainty can cause harm with increasing speed.

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The Journal of Private Equity
Vol. 9, Issue 2
Spring 2006
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Adventures in Unrated Debt Investing
Kenneth R. Yager, Andrew H. Connor
The Journal of Private Equity Feb 2006, 9 (2) 97-101; DOI: 10.3905/jpe.2006.628341

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Adventures in Unrated Debt Investing
Kenneth R. Yager, Andrew H. Connor
The Journal of Private Equity Feb 2006, 9 (2) 97-101; DOI: 10.3905/jpe.2006.628341
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