There was a chance if the credit markets rallied that the bonds might be worth something, but the odds were remote — it would mean no more defaults, and in late 2008 with a lot of
junior debt financial exposure, that wasn't likely.
Not exact matches
For example, if you have a car loan or credit card
debt and you have money in a savings account earmarked for
Junior's college, you can use this to pay off that
debt, reduce your available savings and hopefully boost your
financial aid package.
On January 17, 2008, Moody's placed the Aaa insurance
financial strength ratings of MBIA Corp. and its insurance affiliates, the Aa2 ratings of MBIA Corp.'s $ 1.0 billion of 14 % fixed - to - floating rate surplus notes («Surplus Notes») issued on January 16, 2008, and the Aa3 ratings of the
junior obligations of MBIA Corp. and the senior
debt of MBIA Inc. on review for possible downgrade.
On February 26, 2008, Moody's affirmed the Aaa insurance
financial strength ratings of MBIA Corp. and its insurance affiliates, the Aa2 ratings of MBIA Corp.'s Surplus Notes and the Aa3 ratings of the
junior obligations of MBIA Corp. and the senior
debt of MBIA Inc., with a negative rating outlook.
Recently I did some consulting for a
financial institution that held the single - A tranches of several trust preferred CDOs that had CMBS, REIT
debt, and a lot of
junior debt from bank, mortgage, and housing related names.
I was pleasantly surprised that all of them had steered clear of the current lending crises, and the level of exposure to
financials, and their
junior debt was low.
For example, if you have a car loan or credit card
debt and you have money in a savings account earmarked for
Junior's college, you can use this to pay off that
debt, reduce your available savings and hopefully boost your
financial aid package.