senior lien

senior lien

n. the first security interest (lien or claim) placed upon property at a time before other liens, which are called "junior" liens. (See: mortgage, deed of trust, lien, UCC-1)

References in periodicals archive ?
NEW YORK -- Fitch Ratings affirms the 'BBB+' rating on the Mid-Bay Bridge Authority, Florida's (the authority), approximately $100 million in outstanding senior lien revenue bonds and the 'BBB' rating on the authority's approximately $155 million in outstanding springing lien revenue bonds.
NEW YORK -- Fitch Ratings affirms the 'BBB+' rating on the Mid-Bay Bridge Authority, Florida's (the authority), approximately $102 million in outstanding senior lien revenue bonds and the 'BBB' rating on the authority's approximately $155 million in outstanding springing lien revenue bonds.
The upgrade of the senior lien TABs is based on the closure of the senior lien in July 2009, resulting in enhanced bondholder protection against leverage.
3 million senior lien variable rate water and sewer system revenue bonds, 2007 Series B.
3 million senior lien water and sewer system revenue bonds, 2007 series A, and $10.
NEW YORK -- Fitch assigns an 'AA' rating to approximately $900 million of Dallas Area Rapid Transit (DART) senior lien sales tax revenue refunding bonds, series 2007.
Fitch's 'A' rating on the senior lien bonds and 'A-' rating on the junior lien bonds balances both the relatively stable quality of the revenue streams pledged to the SCTIB and the high level of leveraging.
7 million outstanding subordinate lien PPRF revenue bonds and the 'AA' rating on NMFA's $460 million outstanding senior lien PPRF revenue bonds.
500 million senior lien dedicated tax revenue and refunding bonds, series 2007.
The Rating Outlook on the senior lien and junior lien bonds is Stable.
CHICAGO -- Fitch assigns a long-term rating of 'A+' to the City of Detroit, Michigan's (the city) $204,650,000 sewage disposal system revenue refunding senior lien bonds (tax-exempt floating LIBOR notes), series 2006D.
Senior lien bonds are payable from district revenues following the payment of current expenses (net revenues) and retention of a reserve maintenance fund equal to 20% of budgeted operating expenses.
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