| Ramp-Up
Phase:
The phase in a project's
life cycle immediately
following construction.
It is during this
phase, the early years
of operation, that
a project's revenue
stream is established.
|
| |
| Rate Covenant:
A contractual agreement in the legal documentation of
a bond issue requiring the issuer to charge rates or fees
for the use of specified facilities or operations at least
sufficient to achieve a stated minimum debt service coverage
level. |
| |
| Rating
Agency: An organization
that assesses and issues opinions regarding the relative
credit quality of bond issues. The three major municipal
bond rating agencies are Fitch Investors Service, Moody's
Investors Service, and Standard and Poor. |
| |
| Real
Property:
Tangible, non-movable
assets, such as land
and buildings. |
| |
| Receivable:
Amount owed the to a lender by an individual, organization,
or other entity to satisfy a debt or a claim. Examples
of receivables generated by government activities include
amounts due for taxes, loans, the sale of goods and services,
fines, penalties, forfeitures, interest, and overpayments
of salaries and benefits. |
| |
| |
| Recourse:
Rights of a holder in due course of a financial instrument
(such as a loan) to force the endorser on the instrument
to meet his or her legal obligations for making good the
payment of the instrument if dishonored by the maker or
acceptor. |
| |
| Recovery:
The dollars collected subsequent to a purchase, net of
expenses, on a guaranteed loan. |
| |
| Recovery
Rate:
The total actual and
projected collections
net of expenses subsequent
to a purchase as a
percentage of the
total projected dollars
purchased for a given
cohort of guaranteed
loans. |
| |
| Reestimates:
Estimates of the subsidy costs performed subsequent to
their initial estimates made at the time of a loan's disbursement.
|
| |
| Repayment
Agreement:
Agreement that establishes
the terms and conditions
governing the recovery
of a debt of the lender
and borrower when
credit is initially
extended or a debt
is rescheduled. (See
"Reschedule.")
|
| |
| Reschedule:
Procedure of establishing new terms and conditions to
facilitate repayment of a debt. Also called restructuring,
refinancing, and reamortizing, rescheduling includes establishing
new terms as a result of changes in authorizing legislation
(e.g., congressional action allowing farmers to have an
additional 5 years to pay off their loans). |
| |
| Revolving
Loan Fund:
Financing tool that
recycles funds by
providing loans, receiving
loan repayments, and
then providing further
loans. |
| |
| Risk
Category:
Subdivisions of a
cohort of direct loans
or loan guarantees
into groups of loans
that are relatively
homogeneous is cost,
given the facts known
at the time of obligation
or commitment. Risk
categories will group
all loans obligated
or committed for a
program during the
fiscal year that share
characteristics predictive
of defaults and other
cost. |
| |
|
|
