Secured debt that is paid first in the event of a default.

指在出现违约时，可首先获得支付的有担保的债务。

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Covenants are also used to ensure that High Yield issues do not issue excessive secured debt.

契约还用于确保高收益债券发行方的发行量不超过抵押债务量。

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This may be a huge gamble for many people but because it is a secured debt, many consider it for important uses such as home repairs, college tuition, and medical bills.

对许多人来说这是一个巨大的冒险，但因为是担保债务，许多人考虑重要用途，如房屋维修、大学学费和医疗帐单支付。

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This may require the impairment of non-secured debt holders, something we have so far been reluctant to do.

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Even airlines with healthy balance sheets, such as American and Southwest, are having to pay 10-11% on secured debt.

ECONOMIST: Airlines in the recession

After all, many of these options are replacing unsecured debt with secured debt.

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