Is the Twitter Deal Less Risky Than Citric Steel?

The twitter deal, big picture, is less risky than citri tecitric steel, because twitter is fundamentally less levered. But the issue with the citric teel is that the banks were forced to sell the debt at less money than they weren't wanted to. The same thing will likely happen with twitter. They'll have to sell at some discount on the dollar. It's a very, very different ratio.