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NO.PZ2018111302000070 问题如下 investor asks the analyst to explain how a buyout funccreate value. The analyst respon:“Private equity fun primarily finantheir acquisition of portfolio companies with equity. When they access cret markets, they so on less favorable terms thcomparable public companies, but they cusually offset their relatively higher borrowing costs re-engineering the unrlying portfolio companies to improve their overall profitability.”Whiof the analyst’s statements regarng value creation private equity fun is most accurate? A.The statement regarng corporate re-engineering B.The statement regarng cret market terms C.The statement regarng methoof financing A is correct. Private equity fun increase value taking on high levels of on favorable terms. They are able to offset their borrowing costs superior reorganization anre-engineering capabilities.B is incorrect. Private equity fun obtain favorable terms from cret markets baseon their reorganization skills whileto value enhancement.C is incorrect. Private equity fun increase value taking on high levels of on favorable terms, rather thequity. “ When they access cret markets, they so on less favorable terms thcomparable public companies...\"其他答案我也看了，还是没能理解这句话。我的理解是: “他们在信贷市场这么做（指上一句收购with equity)，和同类型竞争公司对比，是不太有利的” 请问我上面翻译对吗？

NO.PZ2018111302000070 问题如下 investor asks the analyst to explain how a buyout funccreate value. The analyst respon:“Private equity fun primarily finantheir acquisition of portfolio companies with equity. When they access cret markets, they so on less favorable terms thcomparable public companies, but they cusually offset their relatively higher borrowing costs re-engineering the unrlying portfolio companies to improve their overall profitability.”Whiof the analyst’s statements regarng value creation private equity fun is most accurate? A.The statement regarng corporate re-engineering B.The statement regarng cret market terms C.The statement regarng methoof financing A is correct. Private equity fun increase value taking on high levels of on favorable terms. They are able to offset their borrowing costs superior reorganization anre-engineering capabilities.B is incorrect. Private equity fun obtain favorable terms from cret markets baseon their reorganization skills whileto value enhancement.C is incorrect. Private equity fun increase value taking on high levels of on favorable terms, rather thequity. 课程中说value creation有3条，一个是re-engineer 是说能重新驱动公司业务增长，人员架构；一个是obtain ，说的是通过bt降低融资成本，另一个是alignment of interest说的是PE和公司对股权目标更一致做大做强。题中说的是能降低融资成本，所以为什么不是B或者C

NO.PZ2018111302000070问题如下 investor asks the analyst to explain how a buyout funccreate value. The analyst respon:“Private equity fun primarily finantheir acquisition of portfolio companies with equity. When they access cret markets, they so on less favorable terms thcomparable public companies, but they cusually offset their relatively higher borrowing costs re-engineering the unrlying portfolio companies to improve their overall profitability.”Whiof the analyst’s statements regarng value creation private equity fun is most accurate? A.The statement regarng corporate re-engineeringB.The statement regarng cret market termsC.The statement regarng methoof financing A is correct. Private equity fun increase value taking on high levels of on favorable terms. They are able to offset their borrowing costs superior reorganization anre-engineering capabilities.B is incorrect. Private equity fun obtain favorable terms from cret markets baseon their reorganization skills whileto value enhancement.C is incorrect. Private equity fun increase value taking on high levels of on favorable terms, rather thequity. Re engineer没问题，a better alignment 也没问题2 the ability to access cret markets on favorable terms 这里指的是PE可以比他投资的公司拿到更优惠的贷款的意思是么？题目讲的是PE比public company融资成本高，风马牛不相及，所以B不对？

NO.PZ2018111302000070 问题如下 investor asks the analyst to explain how a buyout funccreate value. The analyst respon:“Private equity fun primarily finantheir acquisition of portfolio companies with equity. When they access cret markets, they so on less favorable terms thcomparable public companies, but they cusually offset their relatively higher borrowing costs re-engineering the unrlying portfolio companies to improve their overall profitability.”Whiof the analyst’s statements regarng value creation private equity fun is most accurate? A.The statement regarng corporate re-engineering B.The statement regarng cret market terms C.The statement regarng methoof financing A is correct. Private equity fun increase value taking on high levels of on favorable terms. They are able to offset their borrowing costs superior reorganization anre-engineering capabilities.B is incorrect. Private equity fun obtain favorable terms from cret markets baseon their reorganization skills whileto value enhancement.C is incorrect. Private equity fun increase value taking on high levels of on favorable terms, rather thequity. 虽然老师了，但还是没看懂为什么选择A，不选择B CPE借款成本不就是很高吗？