sub-sovereign obligation (SSO)

Definition

A bond issued by a governmental unit below the national government. In the U.S., bonds are issued by states, cities, school districts, and other government bodies. The level of risk of these obligations depends on the financial stability of the body that issues them.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
subsistence allowance substance over form