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Spin-Off |
Also found in: Financial, Wikipedia | 0.04 sec. |
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The situation that arises when a parent corporation organizes a subsidiary corporation, to which it transfers a portion of its assets in exchange for all of the subsidiary's capital stock, which is subsequently transferred to the parent corporation's shareholders. When a spin-off occurs, the shareholders of the parent corporation are not required to surrender any of their parent corporation stock in exchange for the subsidiary's stock. In the event that the distribution of stock to the parent corporation's shareholders amounts to a dividend, the distribution can be taxed pursuant to provisions of Income Tax statutes. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Certain sub-series are expected to be insured by Ambac Assurance Corporation, MBIA Insurance Corporation and XL Capital Assurance Corporation. Fitch Ratings assigns the $201,655,000 New York City Municipal Water Finance Authority (the Authority) water and sewer system revenue bonds, adjustable rate, fiscal 2003 series F, consisting of $100,000,000 sub-series F-1 bonds, and $101,655,000 sub-series F-2 bonds a 'AA/F1+' rating. Liquidity support through standby bond purchase agreements are expected to be provided by the Bank of Nova Scotia for the sub-series 2002G-1 bonds and by Landesbank Hessen-Thueringen Girozentrale for the sub-series 2002G-1 bonds. |
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