Will the company that has debt, be better off with a large amount of debt, or the company that has no debt? And; can the company that has the large amount of debt, receive more product from other companies?
Example, comparing two firms: Firm A has debt leverage and Firm B has no debt; according to the Modigliani and Miller models of capital structure, both A and B have equal value.
The company with no debt can survive loss of revenue MUCH better than the company with debt payments due. The actual value depends on MUCH more than having, or not having debt.