以上来源于: WordNet
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Since the credit crisis, underwriting standards have improved and these PIK loans are no longer available.
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One recent example is payment-in-kind toggle notes, or PIK toggles.
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But as PIK loans written in 2006 and 2007 begin to term out over the next few years, investors in these instruments may suffer the same fate as investors in negative amortization subprime loans.
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