crossover credit

Crossover Credit

A situation in which a bond is speculative grade but very close to investment grade or vice versa. It often refers to a split rating in which one credit rating agency gives the bond an investment grade rating and another gives it a junk rating. Generally speaking, regulators require bonds to receive investment grade ratings from two different agencies. Thus, crossover credit is often not strong enough to allow banks to invest in them.

crossover credit

Of or relating to a bond that straddles the gap between investment-grade and speculative. Crossover credits are generally rated low investment-grade by one rating agency and upper-grade speculative by another rating agency. See also split rating.
References in periodicals archive ?
Lee has nearly twenty years of credit market experience, and has focused on the crossover credit sector for more than ten years.
Sandy Liang made his comments at Thursday's Bear Stearns High Yield and Crossover Credit Conference.
Since Presley was the quintessential crossover artist--moving effortlessly and successfully from rock to blues to country to gospel--there is no reason to deny him a classical crossover credit.
LONDON & NEW YORK -- International Index Company, the manager of the iTraxx bond indices, has amended its rules governing the iTraxx Europe and Crossover Credit Default Swap Indices with a view to ensure that they incorporate and reflect changes in the market environment.
In addition, Anuj Gulati recently joined CSAM as a Vice President from TIAA-CREF, where he was an investment grade and crossover credit analyst.
Brownstone Investment Group, LLC, trades and invests in High Yield, Distressed, and Crossover Credits.
NEW YORK, March 1 /PRNewswire/ -- Banc of America Securities (BAS) today announced that it has hired Jerry Lee as Managing Director and Senior Trader of crossover credits in both cash and credit default swaps (CDS).
He is an entrepreneur and multi-platform entertainer who has enjoyed world-renown success as a best-selling hip-hop artist with crossover credits in film and television.
Both the primary and secondary markets are covered with particular emphasis on distressed loans, high yield bonds and crossover credits as well as structured credit including CDOs and credit default swaps.
Going forward, CSAM Americas' High Yield group, under the continuing leadership of Richard Lindquist, will work closely with the Corporate Bond team coordinating investment insights on sector allocation and analyses of crossover credits.