Debt ceiling

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Related to Debt Cap: Debt capital

Debt ceiling

Debt Ceiling

The maximum amount that a government can borrow. The term especially applies to municipalities; rising above the debt ceiling may trigger a reduction it a municipality's credit rating. Cities and other local governments that are near the debt limit may issue participation certificates--a right to the receivables for a certain project--instead of direct debt. The United States also has a national debt ceiling, but Congress simply raises it every time the national debt approaches the ceiling.
References in periodicals archive ?
The relatively benign interest deduction regime will be restricted somewhat for accounting periods beginning on or after 1 January 2010 with the introduction of a worldwide debt cap regime.
The NBA's debt cap, a figure which Stern described as 'peanuts', is brought into perspective when it is seen against the current debt of English Premier League champions Manchester United whose current debt stands at $1.
An example of this would be the worldwide debt cap legislation which is still being amended although it has been in force since the beginning of the year.
5 billion, and also begin to include city income tax receipts in its debt cap calculations, which would require a state Constitutional amendment, and is now not likely, sources say.
DEBT FLEXIBILITY HAS DISAPPEARED: A debt service tax rate at the state's new debt cap coupled with the district's ascending debt service schedule will likely preclude the district from issuing new money debt in the near term.
Republicans say they won't allow more borrowing unless Democrats agree to restructure benefits programs or cut the deficit; the White House has ruled out negotiations tied to the debt cap.
Wesbury, former chief economist to the Joint Economic Committee of Congress, rejected claims by Boehner, Treasury Secretary Tim Geithner and the White House that House inaction to raise the current debt cap past $14.
5/10] *For PFI/PPP in the spirit of boosting privately-financed Government projects (in addition to the boosted level of Government funding) there could be a carveout from the worldwide debt cap provisions for PFI/PPP projects that have, say, ten per cent or greater local authority (or similar "Government"-type entity) equity interest.
But he also urged the government to be flexible if the economy slows further, saying the 30 trillion yen debt cap for the current fiscal year should not be adhered to too rigidly.
However, on Thursday, the policy chiefs of the three ruling coalition parties agreed that the debt cap should not necessarily apply for the current fiscal year that began in April, in light of the struggling economy.
Partially mitigating the potential risk associated with an increase in the debt cap includes the strong forecasted interest coverage, the significant growth in franchise valuations and the limitations in debt as they relate to the size of the national television contracts.
If the debt cap is imposed this fiscal year, the government will have 1.