secured lease obligation bond

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Secured Lease Obligation Bond

A debt security that is secured by a lease on an asset. That is, the revenue the issuer obtains from the lease guarantees payment on the bond. It is important to note that only the lease (or a lease coupled with a lien on the asset) secures the bond. This is a common financing tool for electric companies building power stations.

secured lease obligation bond (SLOB)

A debt obligation serviced by lease payments on a single asset. The debt may be secured only by the lease or by a combination of the lease and a lien on the asset being leased. SLOBs are used primarily by electric utilities to finance power stations.
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Fitch has also affirmed APS' 'BBB' secured lease obligation bond ratings and both PNW and APS' 'F2' commercial paper ratings.
4 billion of appropriations backed lease obligation bonds of the state.
NEW YORK -- Fitch Ratings has published a report on Palm Beach County School Board, FL's 2010 lease obligation bonds.
65 million lease obligation bonds (Equipment Acquisition Project and Social Services Building Project) at 'AA+'.
NEW YORK -- Fitch Ratings has published a report on Miami Gardens, FL's 2010 lease obligation bonds.
NEW YORK -- Fitch Ratings has published a report on Cabarrus County, NC's 2010 lease obligation bonds.
71,850,000 lease obligation bonds (Equipment Acquisition Project and Health and Social Services Building Project) at 'AA+'.
3 billion in par, and Sacramento County, CA lease obligation bonds (downgraded to 'A+' from 'AA-') with $1.
The Rating Outlook for the GO, GO veterans and lease obligation bonds is Stable.
Lease obligation bonds (CEI and TE as lessee) to 'BBB-' from 'BB+'.
CHICAGO -- Fitch Ratings has downgraded to 'B+' from 'BB-' the ratings on Midland Cogeneration Venture LP's (MCV) taxable secured lease obligation bonds due 2006.
This includes all utility assets, $840 million of first-mortgage bonds, $85 million of pollution control revenue bonds, the Waterford 3 secured lease obligation bonds, and the payment obligation to System Energy Resources, Inc.