High-Yield Bonds ________

Multiple Choice

High-yield bonds ________.

A) are issues with a credit rating above triple B.
B) are issues with a credit rating below triple B.
C) have been rated investment grade at the time of issuance and cannot be downgraded subsequently to noninvestment grade.
D) cannot be rated noninvestment grade at the time of issuance (e.g., rated as original-issue, high- yield bonds) .