prime(redirected from primely)
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2. Describing the highest possible credit rating on a bond, either Aaa (for Moody's) or AAA (for S&P and Fitch).
To come before another creditor in terms of priority of payment should there be insufficient assets to pay all creditors.A first mortgage holder primes a second mortgage holder,who primes a later judgment creditor, who primes a general unsecured creditor. Filing for bankruptcy reshuffles the deck,as the bankruptcy trustee primes large categories of creditors.