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What is a debt-asset swap (DAS)?
A debt-asset swap (DAS) is a debtor’s transfer to a creditor of third-party receivables, real estate, or other assets to satisfy a debt. Debt-asset swaps frequently occur as debto...
A third-party institutional investor (insurance company, pension fund) unaffiliated with the lessor or lessee that lends the long-term debt funding in a leveraged lease on a nonrec...
What is a credit rating agency?
Where a credit bureau focus on consumer credit, a credit rating agency (CRA) is an independent company that evaluates and quantifies the credit risk of banks, nonbank corporations...
A credit model is an analytical method that models the credit default process based on available information used to determine the probability of default on a credit arrangement (l...
A credit model used to determine credit losses that have or will probably arise from a credit portfolio in order to calculate the allowance for loan and lease losses (ALLL) and to...
What is a credit default swap?
A credit default swap (CDS) is an over-the-counter bilateral contract of a notional amount and specified term in which the seller receives a series of periodic premium payments fro...
A credit bureau is an independent agency that researches, collects, analyses and organizes credit information primarily on consumers and small businesses (SMEs) and maintains and s...
A credit application is a form submitted to a prospective lender or lessor that provides credit information on a prospective borrower or lessee, respectively – and occasionally a g...
A parent company is a business entity that owns or controls one or more other companies, typically through the ownership of 50% or more of the voting rights in the companies. A co...
After the mandate is awarded, borrowers commonly require a commitment letter. The mandated lead arranger (MLA) acknowledges in a commitment letter (letter of intent) to assemble...
