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Seniority of debt
Hi all,I know that in general the categories in decreasing seniority are: Bank Loans, Senior Secured, Senior Unsecured, Senior Subordinated, Subordinated, and Junior Subordinated. In my database I have in addition to these categories junior debt and None (which indicates no seniority level). I am wondering:1- the junior debt is less senior tha junior subordinated?2- what could NONE means? No seniority level is considered junior? I am a little bit confused about itThx