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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DCR has also reaffirmed PNM`s senior unsecured notes and first mortgage bonds at 'BBB-' (Triple-B-Minus), and upgraded the EIP Funding Corp Secured Lease Obligation Bond (SLOB) ratings to `BB+' (Double-B-Plus) from 'BB' (Double-B).
Fitch has also affirmed APS' 'BBB' secured lease obligation bond ratings and both PNW and APS' 'F2' commercial paper ratings.
The Midland Cogeneration Venture Limited Partnership ("MCV") today announced that on July 23, 2002, it has made its final payment on the senior secured lease obligation bonds issued by the Midland Funding Corporation I.
4 billion of appropriations backed lease obligation bonds of the state.
147 billion in pass-through certificates representing secured lease obligation bonds guaranteed by MG and backed by an EME note to MG, which will keep the transaction credit neutral to EMM lenders.
NEW YORK -- Fitch Ratings has published a report on Palm Beach County School Board, FL's 2010 lease obligation bonds.
147 billion in pass-through certificates, representing interests in secured lease obligation bonds, and then guaranteeing MG's obligations to the new Owner Trusts.
65 million lease obligation bonds (Equipment Acquisition Project and Social Services Building Project) at 'AA+'.
II's subordinated secured lease obligation bonds from double-'B' to double-'B'-plus and affirmed its triple-'B'-minus ratings on Midland Funding Corp I's senior secured lease obligation bonds.
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.
secured lease obligation bonds (SLOBs) 'BB+' (Double-B-Plus), and its preferred stock 'BB-' (Double-B-Minus).