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No, it does not. But the lower the ratings, the lower the rates (rates are based on delivery, not image). And at some point you get to the place where the return on the investment is bad.
If you want to make 4% on the money, be safe and buy municipal bonds. That means that 100.3 needs to make an EBITDA of around $10 million to be a good investment. That means billing about $22 to $25 million in LA.
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