Parity Debt
Two or more issues of bonds with the same priority of claim or lien on the same underlying security and sources of repayment (i.e., revenues) for all of the bonds.
bond-basics
Subordinate Lien Bonds
Bonds having a subordinate claim on one or more Security Interests relative to the claim against such Security Interests by the holders of other Bonds, also known as “junior lien bonds.”
See Also
Senior Lien Bonds
Bonds having a priority claim on one or more security interests relative to the claim against such security interests by the holders of other bonds.
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Hundreds of Terms and Concepts
Upgrade (Ratings)
The increasing of a rating by a rating agency. Higher ratings indicate higher credit quality.