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Finance Dictionary and Glossary of Investment Terms
Debt that is either unsecured or has a lower priority than that of another debt claim on the same asset or property. also called junior debt.
Debt over which senior debt takes priority. In the event of bankruptcy, subordinated debtholders receive payment only after senior debt claims are paid in full.
A loan (or security) that ranks below other loans (or securities) with regard to claims on assets or earnings.