French translation: (l’entreprise concessionnaire) est endettée au maximum
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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:
keep the asset fully leveraged
(l’entreprise concessionnaire) est endettée au maximum
English term or phrase:keep the asset fully leveraged
Article comparant les processus de privatisation des autoroutes françaises et américaines, section sur l'impact de ces privatisations sur le bien-être social :
"Theoretically, this taxpayer “windfall” is not a risk even if the price is not financially sustainable, but practically there are likely to be costs borne by the taxpayers in the case of a default by the concessionaire. Also, there is a situation in which a higher price and greater leverage could have a long-term detrimental effect on taxpayers; in the case of the Skyway, the City can terminate the concession early, but only upon payment to concessionaire of the fair market value of the concession but not less than the value of the debt outstanding. To the extent that concessionaire keeps the asset fully leveraged, this termination option will be expensive for taxpayers."