PREREFUNDING Definition

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PREREFUNDING is the the issuing of new securities to refund an outstanding security. Proceeds from the new securities are used to buy instruments, usually U.S. Treasuries, to be held in escrow for the purpose of retiring bonds or preferred stock.

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ASSET STRIPPING is buying a business and then realizing a profit by selling off the assets separately.

SSARS see Statements on Standards for Accounting and Review Services.

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