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líquida de ratchets


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22:59 Feb 8, 2012
This question was closed without grading. Reason: Answer found elsewhere

Portuguese to English translations [PRO]
Bus/Financial - Food & Dairy
Portuguese term or phrase: líquida de ratchets
A valorização da XXXXX a 31 de Dezembro de 2011 foi calculada com base num múltiplo de 7,5, EBITDA de EUR 8,5 milhões e Net Debt de EUR 43,3 milhões, e está líquida de ratchets.

Are they trying to say "unleveraged"?
Douglas Bissell
Portugal
Local time: 06:05


Summary of answers provided
3liquid (assets) from ratchet options
NataliaAnne


  

Answers


12 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
liquid (assets) from ratchet options


Explanation:
Could this be referring to ratchet options (also called cliquet options)? Take a look at these references and see what you think.

“A type of option in which the strike price periodically resets before the final expiration date is reached.”

http://www.investorwords.com/6452/cliquet_option.html

“As the commodity swap market has been growing, commodity derivatives houses have started offering options like swaptions, but also various exotic (Asian, lookback, cliquet, binary, basket, chooser and barrier type) options on liquid commodity indexes.”

http://www.ericbenhamou.net/documents/Encyclo/commodity mark...

http://www.investopedia.com/terms/c/cliquet.asp#axzz1lspn5Fg...



NataliaAnne
Brazil
Local time: 02:05
Native speaker of: Native in EnglishEnglish
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