With 'secured debt', specific assets are pledged as collateral that bondholders have a direct claim to in the event of bankruptcy.

Name: With 'secured debt', specific assets are pledged as collateral that bondholders have a direct claim to in the event of bankruptcy.
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This is correct. Secured debt is backed by specific assets as collateral, giving bondholders a direct claim to those assets in the event of default or bankruptcy.

With 'Secured Debt', Specific Assets Are Pledged as Collateral That