A corporate bond that lacks specific collateral backing yet is guaranteed by the issuing corporation's overall creditworthiness is known as a(n):

The term used to describe a corporate bond that is not backed by specific collateral but is secured by the issuing corporation's overall creditworthiness is a debenture. Debentures are essentially unsecured loans, meaning that they do not have any tangible assets pledged as security for repayment. Instead, investors rely on the corporation's financial strength and creditworthiness to receive interest payments and principal repayment.

Debentures typically offer higher interest rates compared to secured bonds because they carry a higher risk for investors, as there are no specific assets to claim in case of default. This characteristic of being backed by the issuing corporation's credit instead of collateral is what differentiates debentures from other types of bonds, like secured bonds or collateral trust bonds, which are tied to specific assets.

Understanding this distinction is crucial for investors when assessing the risk and potential return associated with different types of bonds in their investment portfolio.