Full Faith-and-Credit Obligation

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Full Faith-and-Credit Obligation

A bond secured by an unconditional promise to pay by another entity. The term usually refers to a debt security backed by the United States government. For example, a U.S. Treasury security and a Ginnie Mae pass-through are both full faith-and-credit obligations. These securities carry very low risk.
References in periodicals archive ?
One of the fundamental insurance coverages that all municipalities need is full faith and credit bonds for their public officers.
6 billion outstanding Florida full faith and credit bonds.
Fitch also affirms the 'AA+' rating of approximately $12 billion outstanding Florida full faith and credit bonds.
E[acute accent]Florida's full faith and credit bonds are secured by specific revenues.
Florida's full faith and credit bonds also carry a pledge of specific taxes for each type of debt.
Fitch also affirms its 'AA+' rating of approximately $12 billion outstanding Florida full faith and credit bonds.
Florida full faith and credit bonds also carry a pledge of specific taxes for each type of debt.
7 billion State of Florida full faith and credit bonds to 'AA+' from 'AA' and assigns the 'AA+' rating to $371.
Fitch also affirms the 'AA' rating on $11 billion outstanding Florida full faith and credit bonds.
Ratings for Florida's full faith and credit bonds reflect not only the general credit characteristics of the state but also the security provided by specific taxes affording the intended payment stream for each type of debt.
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