def ltd(balance_df):
    """Checks if the current LTD (Long Term Debt) was reduced since previous year
    Explanation of LTD: https://www.investopedia.com/terms/l/longtermdebt.asp
    balance_df = Balance Sheet of the specified company
    """
    
    lt_debt_curr = balance_df.iloc[balance_df.index.get_loc("Long Term Debt"),0]
    lt_debt_prev = balance_df.iloc[balance_df.index.get_loc("Long Term Debt"),1]
    if (lt_debt_curr < lt_debt_prev):
        return True
    else:
        return False