THE Chairman of Independent Corrupt Practices and Other Related Offences Commission (ICPC), Professor Bolaji Owasanoye disclosed plans by the commission to collaborate with Asset Management Corporation of Nigeria (AMCON) towards the recovery of N5trillion owed AMCON by
obligors. He made the declaration when he received the Board and Management of AMCON led by the Corporation's Board Chairman, Dr Muiz Banire.
As the name implies, issuers in conduit debt transactions primarily serve as channels between lenders and the third parties (other governments and nonprofits such as colleges and hospitals are frequent beneficiaries) that receive the proceeds of loans and are primarily responsible for repaying them ("third-party
obligors," or simply "
obligors").
Pool
obligors are secured by borrowers' general obligation and/or utility revenue pledges.
It also directly identifies the
obligors that are the biggest source of concentration risk.
When municipal
obligors become stressed it is difficult for most investors to learn in a timely manner, potentially putting their portfolio at a greater risk.
According to the bond credit rating scale, a Caa3 rating means that "the
obligor is currently vulnerable, and is dependent upon favourable business, financial, and economic conditions to meet its financial commitments," while a B3 rating means that "the
obligor is less vulnerable in the near term than other lower-rated
obligors.
For large portfolios of tens of thousands of
obligors there remains considerable model risk.
The second significant benefit to high-income earning
obligors is the reduction in the percentage of combined net income devoted to child support once it exceeds $60,000.
Moody's CreditView US Public Finance includes a streamlined bond selection tool that displays both issuer and
obligor. Users can scan the issuers,
obligors and sales more quickly and easily, without having to switch between multiple views.
When you receive notices to payor or income deduction notices requiring that the income of two or more
obligors be deducted and sent to the same depository, the payor may combine the amounts that are to be paid to the depository in a single payment as long as the payments attributable to each
obligor are clearly identified.
The Illinois passport denial program, (4) which is part of the Federal Offset Program, (5) bars
obligors with child-support arrearages from obtaining a new passport or renewing an existing passport.