Sentence examples for class of debt from inspiring English sources
A creditor with 7percentt of the next class of debt could buy up to seven reorganization rights, at a price not lower than one-hundredth of all the more senior classes' debts.
An owner of 18percentt of one class of debt, for instance, could buy up to 18 reorganization rights at a unit price not lower than one-hundredth of all the more senior creditors' claims.
Yet another top-rated class of debt is on the hit list now that Standard & Poor's may downgrade covered bonds — a type of mortgage-backed security popular in Europe.
Even so, the presence of the hedge funds, which term themselves the "LT2 Group" after the lower, tier-two class of debt they own, is an embarrassment for the Co-op, which only last month was insisting the only alternative to its complex recapitalisation plan was nationalisation.
Outside cryptocurrency and a few tools that enable better trading decisions, most of these startups developed a proprietary model to score the credit risks of potential customers and paired it with a clever go-to-market strategy that will appear to a new class of debt holders.
What's more, the two main classes of debt carry interest rates of 8.75% and 12.25%.
EMTA also holds that, while bonds should not be exempt, nor should all classes of debt be treated equally.
As markets have developed, rating agencies have expanded into complex securities, such as collateralised bonds, and are looking at different classes of debt.
The credit rating agency Moody's spelled out a few facts last week when downgrading some of Four Seasons' classes of debt deep into junk territory.
The pari passu clause and the fundamental principle of equal payment were understood then and have now been reaffirmed again to mean that debtors cannot discriminate in priority of payment to creditors holding comparable classes of debt.
But specific failures will still come as a nasty surprise to investors and institutions, and add to the malaise.Of enduring concern are the monoline insurers, the institutions that agreed to guarantee some classes of debt against default.
