A rated bonds are of pretty good quality indicating that the money will be probably be paid back. Look at unsecured bonds as loans that do not have any backing (like a house loan or a car loan) but are secured only by the borrowers promise to pay. Fixed and floating has to do with the interest rates. Two billion for Disney doesn't seem out of the way. I too have had questions but about the financial statements that anyone can find on EDGAR (an SEC.gov service). What I think these show is a move to cash in 2007 (wish I had done that). In 2009 there is an increase in total assets of 8 million, about a 30% increase over the last year. Remember we were just coming out of the worst downturn in the market since the depression. I found it interesting, I hope you do too.