Unsecured debt


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Unsecured debt

Debt that does not identify specific assets that the debtholder is entitled to in case of default.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Unsecured Debt

A debt that is not secured by an asset or lien, but rather by the all issuer's assets not otherwise secured. This means that an unsecured debt carries no collateral; in case of bankruptcy, the debt holder is considered a general creditor. Thus, the debt holder is paid out of funds that do not have a prior claim on them with a secured debt. Some unsecured debts, such as Treasury securities, are considered risk-free.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
On June 21, S&P Global Ratings raised CNO's senior unsecured debt rating to 'BBB-' from 'BB+' and the financial strength rating of the company's operating subsidiaries to 'A-' from 'BBB+'.
Fitch Ratings said that it had downgraded Bank of Cyprus `long-term senior unsecured debt rating to `CCC` from `B-` and Recovery Rating to `RR6` from `RR4`.
Chicago: Fitch Ratings has placed PennantPark Investment Corporation's (PNNT) Long-Term Issuer Default Rating (IDR), senior secured debt and senior unsecured debt ratings of 'BBB-' on Rating Watch Negative.
According to TUC analysis of ONS figures, unsecured debt in the UK has reached a new record level of APS15,400 per household.
The TUC said its analysis suggested that unsecured debt - other than mortgages - reached new highs in 2018, equivalent to PS15,385 per household in the third quarter of the year, up PS886 on a year earlier.
Another 10% are spending at least 25p in every PS1 of their disposal income on keeping up payments on unsecured debt, including credit cards and loans.
Another 10 per cent are spending at least 25p in every PS1 of their disposable income on keeping up payments on unsecured debt, including credit cards and loans.
Unsecured debt refers to any debt that is not protected by a guarantor or asset - such as bank loans, credit cards and payday loans.
The report, Britain in the Red, says that total unsecured debt (which excludes mortgages) for all UK households rose by GBP48bn between 2012 and 2015, reaching GBP353bn.
Moody's Investors Service has today downgraded Gulf International Bank BSC's (GIB's) senior unsecured debt ratings to Baa1 from A3, the provisional subordinated debt rating to (P)Baa2 from (P)Baa1.
The following long term senior unsecured debt ratings were assigned to Interacciones's issuance of Certificados Bursatiles Bancarios (BINTER