Quarterly Income Preferred Securities

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Quarterly Income Preferred Securities

Preferred stock representing a portion of ownership in a limited partnership. The limited partnership is a subsidiary of another company and exists only for the purpose of issuing the QUIPS. The proceeds from QUIPS are lent to the partnership's parent company. These securities thus combine aspects of stocks and bonds; they mature on a quarterly basis and usually have a par value of $25. Returns on MIPS come out of the partnership's pretax earnings, and, therefore, can result in tax advantages.

Quarterly Income Preferred Securities (QUIPS)

Preferred stock that represents interest in a limited partnership formed for the sole purpose of lending proceeds of the equity issue to the parent company. Dividends to holders of QUIPS are paid from tax-deductible interest paid by the parent corporation.
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Proceeds of the offering will be used in part to redeem $275 million of 7 3/4% quarterly income capital securities and the balance for general corporate purposes.
Additionally, Standard & Poor's affirmed its single-'A'-plus rating on CFC's outstanding quarterly income capital securities (subordinated deferrable interest debentures).
The following securities are affected by this: collateral trust bonds 'AA'; medium-term notes and guaranteed transactions 'AA-'; quarterly income capital securities (QUICS) 'A+'; and commercial paper 'F1+'.
s (WMB) notes and debentures to "BBB" (Triple-B) from "BBB-" (Triple-B-Minus) and quarterly income capital securities and preferred stock to "BBB-" (Triple-B-Minus) from "BB+" (Double-B-Plus).
Fitch presently has ratings of 'AA' on CFC's collateral trust bonds, 'AA-' on the medium-term notes and leveraged lease debt, 'A+' on outstanding quarterly income capital securities and `F1+' on commercial paper and short-term guarantees.
s (Con Ed) planned issuance of quarterly income capital securities (QUICS), Series A.
Fitch presently has ratings of `AA' on CFC's collateral trust bonds, `AA-` on the medium-term notes and leveraged lease debt, `A+' on outstanding quarterly income capital securities and `F1+' on commercial paper and short-term guarantees.
750 million issuance of quarterly income capital securities (QUICS) 'BB+' (Double-B-Plus).
Williams) newly proposed quarterly income capital securities (QUICS), subordinated deferrable interest debentures, due 2025 are rated "BB+.

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