Is there a limit on how much senior debt could be issued? If a company issues a small amount of debt relative to its assets and wants to issue more could it still be called "senior" or it would have to be labeled junior because there is a small amount of outstanding debt that has priority when paying? Could the company issue a lot of debt relative to its assets and call it senior?
If somebody could provide a link to read about this, I would be grateful. I could not find anything