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Baskin (1989) finds higher debt to total assets ratios are significantly related to lower profitability, higher growth in invested capital, and larger prior period dividend payments. nbsp;ratio of 60%, Secured Debt to Total Assets is restricted to 40%, issuers must maintain unencumbered assets with an undepreciated book value 1. In ProLogis' case, the minimum ratio of unencumbered assets to unsecured debt will decline to 125% from 150%, and the maximum debt to total assets ratio is increased to 65% from 60%. |
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