STATEMENT OF AFFAIRS Definition

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STATEMENT OF AFFAIRS is a specialized form of financial statement setting out the debtors assets and liabilities - secured, preferred and unsecured. This document is usually prepared on short notice and from incomplete records. It is sworn to by an officer of the company and or by the bankrupt where applicable. The trustee often has a different opinion as to the value of the assets and the extent of liabilities included therein. The formalized statement of affairs is sworn under oath by the debtor before a lawyer or designated legal/court entity.

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INVESTMENT GRADE, in securities, is a high credit rating indicating bonds generally considered to have the strongest possi­bility of paying interest and repaying principal when due. Standard & Poor's Corporation considers invest­ment grade bonds to be those it rates from AAA through BBB. Moody's considers investment grade to be from AAA to Baa3. Below investment grade bonds also are known as high yield or junk bonds. The NAIC designates investment grade bonds with the numerical rating of "I" or "2".

SANTIMS is a currency of Latvia.

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