Multiple Choice
A "fallen angel" is a bond that:
A) has moved from being an investment-grade bond to being a junk bond.
B) has moved from being a long-term obligation to being a short-term obligation.
C) has moved from having a yield to maturity in excess of the coupon rate to having a yield to maturity that is less than the coupon rate.
D) lowered its annual interest payment.
E) is rated as Ba by one rating agency and rated as BB by another rating agency.
Correct Answer:
Verified
Correct Answer:
Verified
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