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step down subsidiarystresses
fin. дочернее предприятие, контролируемое прямым дочерним предприятием (A step down subsidiary company means the subsidiary company of a company which is subsidiary of another company. E.g. H limited is a holding company, S limited is the subsidiary company of H limited, SS limited is the subsidiary company of S limited. In this case, SS limited is the step down subsidiary of H limited, while S limited is the direct subsidiary of H limited. СержК)