Credit standing refers to the reputation an individual or business earns for paying debts. It relates to the perceived reliability in fulfilling financial obligations based on past behavior.
A clause in a loan agreement or bank facility stating that the loan will become repayable if there is a material change in the borrower's credit standing. The clause can be contentious because it is not always clear what constitutes a material change.
Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.