EFTA Document EFTA01385395

3 January 2018 HY Corporate Credit HY Multi Sector.Media. Cable & Satellite Provider Challenges - Volumes and MIA As we stated previously, it's our view that healthcare becomes harder to afford (for individuals, corporations, etc.) as healthcare cost growth exceeds income growth. When this occurs over time, we believe that payors generally pass through a portion of the healthcare cost growth to individuals and corporations in the form of higher premiums and larger deductibles and other c