money-good
 adj.— «“OK, something that Moody’s rates triple-A must be money-good, so I’m going to worry about the other things I’m investing in, but when it comes time to say, ‘Where am I going to put my cash?,’ I’ll just leave it in triple-A commercial paper, I don’t have time to think about everything.”…And pricing on triple-A CDO paper was very, very rich. Spreads were very, very tight, and these guys said, “You know what? These assumptions that triple-A is money-good, or the assumptions that underlay Moody’s ratings”…In other words, if you buy a bond, you’re going to get back your principle. It’s money-good. You’re going to get a hundred cents on the dollar back. » —“Interview with a Hedge Fund Manager” N+1 Jan. 7, 2008. (source: Double-Tongued Dictionary)

Tagged with →