underlying debt

Underlying debt

Municipal bonds issued by government entities but under the control of larger government entities and for which the larger entity shares the credit responsibility.

Underlying Debt

A bond or other debt issued by a municipality and guaranteed by another government entity. For example, if a state guarantees payment, at least in part, for municipal bonds issued by cities in that state, those bonds are called the state's underlying debt. This debt is usually lower risk than other debts.

underlying debt

Debt of a municipal organization for which a higher municipal organization is at least partially responsible. For example, debt of a hospital authority may be guaranteed by a county such that the hospital debt is underlying the debt of the county. Compare overlapping debt.
References in periodicals archive ?
In this regard, increasing efforts towards supporting product innovation, improving the underlying debt market infrastructure and enhancing the legal and regulatory framework could prove to be instrumental in the expansion of Dubai's conventional and Islamic debt markets," Hatton said.
Our economic recovery has, on the face of it, been progressing this year, but the underlying debt and deficit figures tell a different story.
Cantor Fitzgerald has been recognized as an expert in the securities industry across the entire credit spectrum, which is attributed to our deep knowledge of the fixed income markets and underlying debt securities.
In essence, MERS acts as a limited agent of the beneficial owner(s) and holders of the underlying debt, and holds legal title to the mortgage recorded in the public land records.
HMV, which has over 200 stores and more than 4,000 staff, had underlying debt of Au176.
There is still a long way to go to resolve the underlying debt crisis, but the ECB has given Europe some breathing space to work and the environment is getting better.
They also include interest expense if the underlying debt is secured by or properly allocable to an aircraft used for entertainment.
Other amounts, such as discounts on bankers' acceptances or promissory notes, are not interest since there is no underlying debt.
hedges and the underlying debt exactly offset each other, thereby having no
A] lien under the HLA requires the existence of an underlying debt owed by the patient to the hospital and .
This "moneyness" attribute predicates virtually insatiable demand for the underlying debt instruments, which impels lending excess, over-issuance and self-reinforcing asset inflation.