Refunding
A transaction in which refunding bonds are issued and their proceeds are used to pay off outstanding bonds.
bond-basics
Current Refunding
A Refunding in which all Refunded Bonds are redeemed within ninety days of the issuance of the Refunding Bonds.
See Also
Advance Refunding
A type of refunding transaction in which the refunding bonds are issued more than 90 days before the redemption or final maturity, whichever is earlier, of the refunded bonds.
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Upgrade (Ratings)
The increasing of a rating by a rating agency. Higher ratings indicate higher credit quality.