Aug 19, 2009 03:25
14 yrs ago
1 viewer *
English term

is backed by bank lines of credit

English Bus/Financial Investment / Securities
They can work only with what they have, however, and external facts changed by the hour during the unfurling of the U.S. financial crisis, when credit markets seized and the price of commercial paper soared, a key factor for GE since the company fairly often holds as much as $100 billion or more of short-term debt, though some of it is backed by bank lines of credit.
Change log

Aug 19, 2009 03:25: changed "Kudoz queue" from "In queue" to "Public"

Responses

+5
1 hr
Selected

banks have agreed to grant the company cedit to cover some of its debt.

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Note added at 4 hrs (2009-08-19 07:53:19 GMT)
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For "cedit" read "credit".
Peer comment(s):

agree Demi Ebrite
1 hr
Thank you.
agree Rolf Keiser
2 hrs
Thank you.
agree George C.
7 hrs
Thank you.
agree Judith Hehir
11 hrs
Thank you.
agree Phong Le
20 hrs
Thank you.
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4 KudoZ points awarded for this answer. Comment: "Selected automatically based on peer agreement."
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