Before revision:  For general diffusions with killing, we obtain the probability density of the last passage time to a certain alarming level and analyze the distribution of the time left until killing after the last passage time to that level. We then apply these results to the leverage process of the company.
After revision:  For general diffusions with killing, we obtain the probability density of the last passage time to a certain alarming level and analyze the distribution of the time left until killing after the last passage time . With these tools, we develop a new risk management framework for companies based on the leverage process of the company.