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Billionaire Investor Wilbur Ross Tells Fox Business Network That We Locked in Low Interest Rates for Most of Our Debt

July 02, 2013 | About:
Fox Business

Fox Business

2 followers
Billionaire Investor Wilbur Ross spoke with FOX Business Network's (FBN) Liz Claman and David Asman about his concerns surrounding the recent Federal Reserve announcement. Ross said, that he believes "rates are going to go up" and that most of his companies have locked in low interest rates for most of our debt.

Excerpts from the interview are below:

Watch the latest video atvideo.foxbusiness.com

On whether Wilbur Ross is taking precautionary measures in advance of what the Federal Reserve may or may not do:

"What we did as a precautionary measure actually before the announcement was we had all our companies get as much long term fixed-rate money as they could, because we do believe that rates are going to go up and we think it's foolish to try to wait til the very last minute or try to guess the exact bottom"

On whether Wilbur Ross locked in low interest rates for the remainder of his companies debt:

"We believe so. A few of our companies do still have some floating rate debt because that's the nature of their business."

**CREDIT: FOX BUSINESS NETWORK**

Rating: 4.3/5 (8 votes)

Comments

vgm
Vgm - 1 year ago
I can never get enough of Wilbur. I knew about his companies locking in low-cost financing but was very interested to hear his comments on Bank of Ireland and Spain. He has the ability to encapsulate so much in so few words.

Thanks for posting.

Please leave your comment:


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