Credit spread
From ACT Wiki
1. Securities - issuer's credit quality.
The difference in yield between a given security and a comparable benchmark government security.
It gives an indication of the issuer’s credit quality.
2. Securities - value differential.
The difference in value of two securities with comparable maturity and yield but different credit jurisdiction.
3. Debt security.
The extra yield on a debt security over the equivalent theoretical 'risk-free' security.
In other words the proportion of the total return that the issuer must pay due to credit risk.
