A third party’s promise to pay the Debt Service on the Bonds or perform some other obligation, which is the primary obligation of another party.

See Also


The third party that executes a guaranty.

Debt Service

The amount of principal and interest required to be paid on an issue of bonds.

Credit Enhancement

The use of the credit of an entity having greater financial strength than the issuer or borrower to improve the credit quality of a bond issue.

Hudson Yards Rail Yards

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