题干中 Exhibit 4指的是什么？

问题如下：

Exhibit 4. Industrial Comparative Ratio Analysis, Year 20XX

Based on only the leverage ratios in Exhibit 4, the company with the highest credit risk is:

选项：

A.

Company A.

B.

Company B.

C.

Company C.

解释：

C is correct.

The debt/capital and debt/EBITDA ratios are used to assess a company’s leverage. Higher leverage ratios indicate more leverage and thus higher credit risk. Company C’s debt/capital (46.3%) and debt/EBITDA (2.5×) leverage ratios are higher than those for Companies A and B.

考点：4C分析

解析：debt/capital 以及 debt/EBITDA衡量的是公司的杠杆，杠杆比率越高，公司的信用风险越高。公司C的杠杆最高，信用风险也最高，故选项C正确。