Why Would It Be Difficulty for Massey-Ferguson to Renegotiate Its Debt with Debtholders?

3. Why would it be difficulty for Massey-Ferguson to renegotiate its debt with debtholders?The item on the income statement most responsible for this drop in income was the rise in cost of goods sold due to currency risk exposure. The pound appreciated strongly against currencies that Massey sold its products. Especially since engine production was highly concentrated in the United Kingdom. Cost of goods sold rose from $238.18 million to $2568.5 million from 1979 to 1980 because of the rise in strength of the British pound.The item on the income statement most responsible for this drop in income was the rise in cost of goods sold due to currency risk exposure. The pound appreciated strongly against currencies that Massey sold its products. Especially since engine production was highly concentrated in the United Kingdom. Cost of goods sold rose from $238.18 million to $2568.5 million from 1979 to 1980 because of the rise in strength of the British pound.The item on the income statement most responsible for this drop in income was the rise in cost of goods sold due to currency risk exposure. The pound appreciated strongly against currencies that Massey sold its products. Especially since engine production was highly concentrated in the United Kingdom. Cost of goods sold rose from $238.18 million to $2568.5 million from 1979 to 1980 because of the rise in strength of the British pound.The item on the income statement most responsible for this drop in income was the rise in cost of goods sold due to currency risk exposure. The pound appreciated strongly against currencies that Massey sold its products. Especially since engine production was highly concentrated in the United Kingdom. Cost of goods sold rose from $238.18 million to $2568.5 million from 1979 to 1980 because of the rise in strength of the British pound.