. We believe MotorCity will be able to further reduce leverage owing to its strong free cash flow generation. With this report we are maintaining our Buy rating on MOTOR 6.0% Senior Unsecured Notes due 2022 ($102.5, 5.2% YTW. 300bps STW). For 2017, we project
CCM Merger
to generate Adjusted EBITDA of $130.0 million (+8.8% versus $119.5 million). Factoring in interest expense…