underlying debt

Underlying debt

Municipal bonds issued by government entities but under the control of larger government entities and for which the larger entity shares the credit responsibility.

Underlying Debt

A bond or other debt issued by a municipality and guaranteed by another government entity. For example, if a state guarantees payment, at least in part, for municipal bonds issued by cities in that state, those bonds are called the state's underlying debt. This debt is usually lower risk than other debts.

underlying debt

Debt of a municipal organization for which a higher municipal organization is at least partially responsible. For example, debt of a hospital authority may be guaranteed by a county such that the hospital debt is underlying the debt of the county. Compare overlapping debt.
References in periodicals archive ?
Contrarily trying to prove that all the underlying debt contracted to sustain this growth will have an adverse impact on the country's resources requires detailed mathematical workings based on complicated assumptions which nobody even wants to understand.
We're seeing an increasing number of people on low income, people with underlying debt, so even if this cause of the financial crisis is resolved, they can find themselves in this situation for a long time.
Intuitively, the better approach is to prevent an arrest action from occurring in the first place by providing creditors with alternative options or collateral to cover the underlying debt.
The underlying debt securities are listed on the Bermuda Stock Exchange, which assist in financing Centaur Group's mining related projects.
Also, for accounting purposes, Sprint will consolidate Network LeaseCo and Sprint's consolidated financials will reflect the cash proceeds it receives and the underlying debt of Network LeaseCo.
Investors may draw comfort from the fact that Al-Ameen Funds falling under the realm of Shariah-compliant fixed income funds are generally superior to conventional fixed income funds because the underlying debt instruments are structurally less risky than conventional debt instrument.
Despite any legal action, and without prejudice to its position on the underlying debt obligations themselves, Ukraine remains ready to negotiate with Russia in good faith a consensual restructuring of the December 2015 Eurobonds which will allow it to remain in compliance with the financing targets agreed with the IMF under the Extended Fund Facility, while meeting its contractual commitments to other bondholders.
In this regard, increasing efforts towards supporting product innovation, improving the underlying debt market infrastructure and enhancing the legal and regulatory framework could prove to be instrumental in the expansion of Dubai's conventional and Islamic debt markets," Hatton said.
Our economic recovery has, on the face of it, been progressing this year, but the underlying debt and deficit figures tell a different story.
The deal is seen to be completed next month, pending regulatory clearance and the waiver of the third party lenders' change of control clause in the underlying debt financing documents.
In essence, MERS acts as a limited agent of the beneficial owner(s) and holders of the underlying debt, and holds legal title to the mortgage recorded in the public land records.
HMV, which has over 200 stores and more than 4,000 staff, had underlying debt of Au176.