I haven't done the analysis myself. I know of analyses other people have done. In fact, maybe our speaker from the OECD is better positioned to answer this question. I know that the priority requirement does exist in some European jurisdictions. My understanding is that it has not stopped those companies from being able to finance their operating requirements.
I think it's more that if you retroactively change the credit standing, then that's an issue, but if you make it clear before the fact, it becomes a different situation.