单词 | Tiers of debt |
释义 | 債項的等級 The classification of debt within an organisation according to its status; a measure particularly important in times of financial adversity. For example, debt might be classified as primary debt, which is serviced from the cash flow of the business; zero-coupon debt, where the interest is inferred at maturity; or subordinated unsecured notes, which only become worth something if the business is sold for more than the sum of the first two tiers. |
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