Phoenix LXVI: Get Your Kicks On Thread LXVI
View Single Post
12-05-2012, 03:07 PM
Join Date: May 2010
Originally Posted by
Can someone explain to me how they can save 28m$ by refinancing 1.1b$ of their debt now, with a lower credit rating???
The more relevant question would be how much better the financial scenario would be if they didn't have the recent downgrade, attributed in large part directly to the Coyotes' support. Remember, Skeete first presented a scenario that indicated that the COG would save millions in debt restructuring with the team, compared to without. He then went to a more "neutral" position of projecting that the presence of the Jamison lease would have no impact on the debt restructuring. Reality suggests that the Jamison deal has further damaged the COG's credit rating, meaning that a re-calculation of the scenarios (with or without the Coyotes) would make the "with" scenario look even less appealing.
But that's all water under the bridge. The outgoing council members who voted on the lease at the 11th hour before leaving because they know so much about what goes on in the COG finances have made their mark.
View Public Profile
Find More Posts by Whileee