Additionally, Ford's credit rating was returned to investment grade by the second of three major credit agencies in May, allowing for the return of the company's pledged assets
, including the Blue Oval.
After the $580 million threshold is reached, the Company is required to pay 50% of realized proceeds from dispositions of pledged assets
and annual excess cash flow, which is reduced to 25% when the outstanding balance of the new secured debt is less than $950 million.
MicroCredit Enterprises is backed by a growing network of Guarantors with a current total of $37 million in pledged assets
In addition, the program's coverage requirement, which allows pledged assets
to be released from the MTI, is 1.
Hybrid financing generally requires a combination of personal liability and/or pledged assets
to collateralize the loan.
must be in the form of cash, stocks (publicly traded), bonds or mutual funds.
The pledged assets
consist of district facilities under a master lease.
In addition, the company has sold assets, pledged assets
and borrowed money on an unsecured basis to raise approximately $4 billion in liquidity, but despite this, "Northwest's cash balance as of year end 2005 had dropped to $1.
Clients do not incur an interest rate premium or private mortgage insurance requirement since the pledged assets
are made in lieu of a large downpayment.
The CTA also permitted the securing of future indebtedness with the Pledged Assets
The bonds are secured by pledged assets
including gross receipts, a first mortgage lien, and a debt service reserve fund.
Private water enterprises currently account for 2% of current pledged loans, all secured by system revenues, with additional pledged assets
in some cases.