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senior debt – debt that, in the event of bankruptcy, has to be repaid in full before any payments are made to cover subordinated debt.

stock – an instrument that signifies ownership in a corporation, and entitles its holder to a claim in the corporation's assets and profits proportional to the holders. Also called equity.

subordinated debt – debt that, in the event of bankruptcy, is repayable only after all senior debts have been repaid. Also called unsecured or junior debt.

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