Test your knowledge

Holding company
Operating subsidiary
Parent company
Senior secured bond; Senior unsecured bond; Bank debt; Subordinated bonds.
Bank debt; Senior secured bond; Subordinated bond; Senior unsecured bond.
Bank debt; Senior secured bond; Senior unsecured bond; Subordinated bonds.
Subordinated bonds; Bank debt; Senior unsecured bond; Senior secured bond.
Use EBITDA as a substitute for EBIT
Use Cash Flow from Operations as a substitute for EBIT
Include other priority costs such as tax in addition to interest paid
Equity stakeholder; Unsecured creditor; Secured creditor; Liquidator.
Secured creditor; Liquidator; Unsecured creditor; Equity stakeholder.
Secured creditor; Unsecured creditor; Liquidator; Equity stakeholder.
Liquidator; Secured creditor; Unsecured creditor; Equity stakeholder.
Negative pledge; Change in control; Restriction on debt; Restriction on asset sales.
Interest coverage; EBITDA/Debt coverage.
Change in control; Negative pledge.
All of the above.

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