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senior lien |
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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) |
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? References in periodicals archive |
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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. |
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senior lien