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".
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Note added at 4 hrs (2009-08-19 07:53:19 GMT)
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For "cedit" read "credit".
4 KudoZ points awarded for this answer.
Comment: "Selected automatically based on peer agreement."
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