â¢ Teamwork at all levels is seen as key to improving processes and services. â¢ Quality management and improvement training are provided at all levels of the organization. â¢ Accountability for quality and productivity improvement is tied to managers' performance evaluations.
DEFINITION of 'Senior Debt'. Borrowed money that a company must repay first if it goes out of business. Companies have a number of options for obtaining financing, including bank loans and the issuance of bonds and stocks. Each type of financing has a different priority level in being repaid if the company decides to liquidate. If the company goes under, the holders of each type of financing have different levels of rights to the company's assets.
In rating long-term debt, DBRS considers the ranking of the debt relative to issuer obligations noting that the starting point for such ranking is the most senior level of debt.he Stable Rating Philosophy considers that increased volatility means increased risk. Hence, a company which is heavily impacted by a cyclical environment will generally be assigned a lower rating to reflect this factor, all else being equal.