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Further, leverage in private equity deals - which measuresdebt as a factor of a company's cash flow and hence its abilityto service the obligations - has risen steadily since thefinancial crisis, averaging 6.2 times earnings before interest,tax, depreciation and amortization (EBITDA) so far this year, upfrom 5.3 times in 2012 and 4.7 times in 2011, according tomarket research firm Pitchbook.
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