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Full Faith and Credit
(redirected from Full Faith and Credit Pledge)

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Full Faith and Credit
A situation in which a government agrees to repay a debt no matter what. For example, if a bond is backed by the full faith and credit of the United States, the U.S. government must find some way to repay the bond. U.S. Treasury securities, Ginnie Mae bonds, and some other debt securities are call full-faith-and-credit bonds because they have this backing. Municipalities may also attach full faith and credit to their bonds, but this means less than the credit of the United States.

Full faith and credit. Federal and municipal governments can promise repayment of debt securities they issue because they can raise money through taxes, borrowing, and other sources of revenue. That power is described as full faith and credit.
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The rating reflects the city's full faith and credit pledge (GO debt rated triple-'B').
S&P Rates Syracuse, N.Y.'s RANs 'SP-2' by PR Newswire
Debt ratios exclude outstanding metropolitan district debt, which is paid from rates and charges generated by the self-supporting water and sewer district, although it is secured by the county's full faith and credit pledge.
Fitch Rates Baltimore County, MD's $391MM GOs 'AAA'; Outlook Stable by Business Wire
The general obligation refunding bonds are secured by the district's full faith and credit pledge, payable primarily from an unlimited ad valorem property tax pledge.
Minneapolis School District #1 Minnesota GOs, COPs Rated 'AA+' by ... by PR Newswire
 
 
 
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