Then it begged the U.S. for funds to pay off speculators who had bought high-interest- paying Mexican debt on the assumption that the peso would stay steady against the greenback.
When money-losing weeklies like Businessweek, TV Guide and Newsweek have changed hands in the past few years, it has typically been for token sums, with the assumption of debt constituting the real purchase price.
The sale of its education division brings McGraw Hill far closer to a total transformation of its business, a shift that started with the sale of beleaguered BusinessWeek to Bloomberg for almost nothing plus the assumption of debt.
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Hamilton's assumption of state debt was contentious: virtuous states did not think they should pay for lax ones.
Therefore, the direct transfer of funds and assumption of old CNPC debt will significantly and materially aid CNPC in that it will now be able to use its current or future revenues to finance its foreign operations.
The transaction value includes the assumption of Heinz's debt.
If you look at credit card debt, are we looking at a similar flawed assumption and maybe a similar crisis that will follow?
The simple r-g assumption is one of the most important in debt dynamics: an r-g of greater than zero (when interest rates are greater than GDP growth) means that the debt stock increases over time.
However, over the past few years with the financial crises of 2009, the European sovereign debt crises and now slowing growth in emerging economies, the assumption in the launch of these airplanes has been overturned.
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The new assumption is that unless Greece can bring down its overall debt level its economy will never recover, since the government will be unable to invest and private lenders will never believe that their money is safe.
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This is purely an assumption in the absence of knowledge about an individual's particular debt profile.
But, the overwhelming majority of this has been written based on the assumption that we do, in fact, need to cut the debt and deficit, just not this way.
With new countries being added to the European sovereign debt crisis, emerging market sovereign credit managers should consider it a fairly safe assumption that there will be more such credit crisis episodes in Europe until the final catharsis occurs, whatever that may be.
Simply to forgive debt would raise questions of moral hazard, inviting companies to take wild risks on the assumption that they would be bailed out.
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