Financial Priority

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Definitions
Senior Security
Senior Security Financial Priority Corporate Debt Structure Liquidation Hierarchy Senior Bonds Mortgage Bonds Debentures Asset Claims
A security that has claim prior to a junior obligation and equity on a corporation's assets and earnings. Senior securities are repaid before junior securities in the event of liquidation. Debt, including notes, bonds, and debentures, is senior to stock; first mortgage bonds are senior to second mortgage bonds; and all mortgage bonds are senior to debentures, which are unsecured.
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