The answer may include reference to the example for the textbook, section 9.5.1, Crewboats Limited. It is NOT that the assets have declined in value due to economic conditions independent of financing. Those would have happened anyway. In addition there are implicit costs such as the delay in using or selling assets caused by being tied up in the legal system. Interest rate expectations are almost never exactly borne out, and rather frequently are wildly incorrect.
Many economic variables can change between now and the time in the future.
The outlook for inflation may become better or worse and this would have a direct effect on interest rate expectations. So as new information becomes available, expectations may be modified. The perceived risks that face a company in financing foreign operations centre mainly on the translation losses that they report when they have suffered from adverse currency movements. This is a problem when companies have to report their results as the foreign earnings are translated at a particular rate in time. There is a problem if the company's domestic currency is strengthening and the company does not have foreign operations, it will face strong price pressure.