However, FMPs are pure debt
funds and mostly managed passively.
We might go to the market with a pure debt
product at some point in the future.
We expect that for every $1 million of external pure debt
financing raised, we can generate, on a full year basis, approximately $2.
The dashed line lists the payoff for the pure debt
and equity case.
Correlation coefficients consistently show that straight noninvestment-grade bonds trade nearly as much like stocks as pure debt
Fitch, however, believes the rating of 'AA' for the Unocal and Pure debt
is warranted due to the substantially stronger credit profile of Chevron and strategic importance of Unocal's assets to Chevron.