prime

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PRIME

Stands for Prescribed Right to Income and Maximum Equity, a certificate that entitles the owner to the dividend/income from an underlying security, but not to the capital appreciation of that security.

Prime

1. In commercial banking, the best available interest rate under most circumstances. Generally speaking, only the most creditworthy customers receive the prime, but this is not always true. In any case, a prime serves as a benchmark against which other interest rates are compared. In this sense, it is also called the prime rate.

2. Describing the highest possible credit rating on a bond, either Aaa (for Moody's) or AAA (for S&P and Fitch).

prime

1. Of or relating to a debt security rated AAA or Aaa.
2. See prime rate.

prime

To come before another creditor in terms of priority of payment should there be insufficient assets to pay all creditors.A first mortgage holder primes a second mortgage holder,who primes a later judgment creditor, who primes a general unsecured creditor. Filing for bankruptcy reshuffles the deck,as the bankruptcy trustee primes large categories of creditors.

References in periodicals archive ?
Giovanni Boutique suites, primely located in Dubai Sports City, is set to be completed by April 2010, the developer of the project, Salya Developments, has said.
Managing director of Tameer's Dubai business unit, Abdul Hamid Moukayed, said the partnership between Tameer and ThinkSpace to lease the primely located Tecom project, reaffirms the leading developer's commitment to striking fruitful industry partnerships to contribute effectively towards the UAE's property sector.
He said he was desperate to make the call: 'To fulfil my basic obligations to my wife, who needs to know that I'm at home, that I'm in bed, that I haven't had too much to drink and that - primely important - I'm alone.