11.   The states and localities would be responsible for repaying the principal.

12.   They begin repaying principal after a seven-year grace period.

13.   To entice these investors, bankers are designing loans in which all the principal is repaid at maturity, like bonds.

14.   Unlike stocks, which are essentially open-ended investments, bonds mature, or repay principal at a predetermined date.

15.   A three year period of grace during which no principal need be repaid was also granted.

16.   State enterprises are also being sold to repay the principal.

17.   The largest of them, Vefa Holding, and several others stopped repaying principal in January and reduced their interest rates from ten to five percent earlier this month.

18.   The triple-B rating is given to entities with an adequate capacity to repay principal and interest in a timely manner.