revolving credit

noun

1. credit automatically available up to a predetermined limit while payments are periodically made.

revolving credit

noun

1. a letter of credit for a fixed sum, specifying that the beneficiary may make repeated use of the credit provided that the fixed sum is never exceeded

Word History and Origins

Origin of revolving credit¹

First recorded in 1915–20

Example Sentences

Zions has filed a lawsuit to recover more than $60 million that it lent to investment funds that were using revolving credit facilities to buy distressed commercial mortgage loans.

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The company plans to retire the shares of the common stock and fund the TKO share purchase using some $150 million from a revolving credit facility, according to the filings.

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Morgan Stanley's transaction kept the loans, a portfolio of revolving credit lines to private funds, called subscription lines, on its balance sheet, according to the sources and the regulatory filing.

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Avangrid has a committed revolving credit facility, which allows committed access to liquidity at any moment.

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All of the company's debt, with the exception of a revolving credit facility , will be cancelled, deleveraging about $5.6 billion, it added.

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