Define: Municipal Securities
What does "Municipal Securities" mean? The meaning differs based on the contract. We found 2 definitions across 1 company in SEC filings.
Definition 1 (MICROSOFT CORP, seen in 1 filing)
Municipal Securities means senior and unsubordinated debt obligations that are obligations (whether direct or by virtue of guarantees) of U.S. state or municipal issuers whose long-term, unsecured, unsubordinated, debt securities are rated at least "A" (or its equivalent successor rating) in the case of Standard & Poor's Ratings Group or "A2" (or its equivalent successor rating) in the case of Moody's Investors Service, Inc., excluding "A" or "A2" rated debt securities of housing and hospital issuers and municipal funds and partnerships where the rating is not based upon the rating of a third-party credit enhancer of such securities.
Source: MICROSOFT CORP 10-K
Definition 2 (MICROSOFT CORP, seen in 1 filing)
Municipal Securities means senior and unsubordinated debt obligations that are obligations (whether direct or by virtue of guarantees) of U.S. state or municipal issuers whose long-term, unsecured, unsubordinated, debt securities are rated at least A (or its equivalent successor rating) in the case of Standard & Poor s Ratings Group or A2 (or its equivalent successor rating) in the case of Moody s Investors Service, Inc., excluding A or A2 rated debt securities of housing and hospital issuers and municipal funds and partnerships where the rating is not based upon the rating of a third-party credit enhancer of such securities.
Source: MICROSOFT CORP 10-K
Data extracted from 3 SEC EDGAR filings across 1 company. Source: Material contracts (Exhibit 10) filed under Regulation S-K.
This page presents definitions found in actual SEC filings for informational purposes. The specific definition appropriate for your contract may vary based on jurisdiction, industry, and specific circumstances. Consult with a qualified attorney for legal advice.