Broad brands bonds as 'non-performing.'Broad brands bonds as `non-performing' Broad Inc. classified as nonperforming $92 million worth of bonds in its investment portfolio in the second quarter of 1990, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a quarterly report filed with the Securities and Exchange Commission. This marked the first time the Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company has had to make such a classification. Jana Greer, a company spokeswoman, said Broad had set aside $22 million to cover permanent losses. Greer said the company expected the bonds to recover the $70 million in value not covered not covered Health care adjective Referring to a procedure, test or other health service to which a policy holder or insurance beneficiary is not entitled under the terms of the policy or payment system–eg, Medicare. Cf Covered. by the reserve fund and that the temporary loss would not have a material impact on Broad's $7.1 billion investment portfolio. "Most of these companies (that issued the bonds) will restructure," she said. Broad, which has avoided junk bond junk bond, a bond that involves greater than usual risk as an investment and pays a relatively high rate of interest, typically issued by a company lacking an established earnings history or having a questionable credit history. losses through conservative investment, holds about $635 million worth of high-yield bonds, which comprise about 10.6 percent of the company's overall investment portfolio. The company markets its financial products under the name SunAmerica, and owns a mutual fund management firm, a trust company, three life insurance companies and three brokerages. |
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