Lowell - comment

And here it is: Lowell’s bragging slide this morning shows Pro Forma Cash EBITDA Leverage of 2.7x. Even collections are presented in a positive light! Bonds trade at 76 and - we think - for a good reason. But GS and JPM are drumming the beat this morning at Lowell's Cap Markets Day and we’ll soon find out if our investment thesis was well founded.