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Corporate Guarantee Value Calculator

Parent corporate guarantees vary wildly in value. This calculator estimates economic value based on coverage and credit.

$

Economic value

$280,000

Cap amount

$400,000

Unhedged remainder

$2,520,000

How the math works

Economic value = min(lease remainder, cap) × credit factor. Below 100% because credit risk reduces expected collection.

For leases at a major tenant exit risk, demand minimum 12-month cap plus letter of credit. Paper guarantees without LOC backup collect slowly; LOC is immediate cash.

How to Use

  1. Enter annual rent.
  2. Enter remaining lease years.
  3. Enter parent credit rating factor (0.2-1.0).
  4. Enter guarantee cap.
  5. Read economic value.

Frequently Asked Questions

Why discounted?

A guarantee from a BBB parent isn't worth 100¢ on the dollar. Discount for default probability, recovery rate, and collection friction. Typical: 40-70¢.

Credit factor scale?

AAA: 0.90-0.95. AA: 0.80-0.90. A: 0.70-0.80. BBB: 0.55-0.70. BB: 0.35-0.50. Below: 0.15-0.30. Private companies require financial review.

Cap interpretation?

Most corporate guarantees cap at 6-18 months of rent. Unlimited guarantees are rare and valuable. Read the guarantee document carefully for carve-outs.

How does this interact with the rest of the capital stack?

Each tier of the stack affects the next. Senior debt constrains LTC and DSCR. Mezz and pref consume equity spread. Interest rate hedges protect DSCR but cost premium. Always model the full stack holistically — optimizing one tier alone often degrades another. Institutional underwriters run three or four scenarios across the stack before committing capital.

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