Full Faith-and-Credit Obligation

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Full Faith-and-Credit Obligation

A bond secured by an unconditional promise to pay by another entity. The term usually refers to a debt security backed by the United States government. For example, a U.S. Treasury security and a Ginnie Mae pass-through are both full faith-and-credit obligations. These securities carry very low risk.
References in periodicals archive ?
Securities and Exchange Commission, assigned a 'AAA' rating to the following state of Florida full faith and credit bonds: --$246,855,000 Department of Transportation, Right-of-Way Acquisition and Bridge Construction Bonds, series 2018B.
18 May 2010 - S&P on Monday lifted to AA- from A+ its underlying rating (SPUR) on Central Oregon Community College District's series 2001 full faith and credit bonds.
"One of the fundamental insurance coverages that all municipalities need is full faith and credit bonds for their public officers.
Securities and Exchange Commission, assigned a 'AAA' rating to the following state of Florida full faith and credit bonds: --$117,105,000 State Board of Education Public Education Capital Outlay Bonds, 2018 Series B.
New York: Fitch Ratings has assigned a 'AAA' rating to the following state of Florida full faith and credit bonds:
Securities and Exchange Commission, assigned a 'AAA' rating to the following state of Florida full faith and credit bonds: --$150.475 million State Board of Education Public Education Capital Outlay (PECO) refunding bonds, 2018 series A.