A "Fallen Angel" Is a Bond That Has Moved From

question 68

Multiple Choice

A "fallen angel" is a bond that has moved from:

• A) being publicly traded to being privately traded.
• B) being a long-term obligation to being a short-term obligation.
• C) being a premium bond to being a discount bond.
• D) senior status to junior status for liquidation purposes.
• E) investment grade to speculative grade.

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Definitions:

Concept

A concept embodying the essential traits of what it symbolizes.

Concrete

Referring to real, tangible objects or phenomena, as opposed to abstract concepts or ideas.

Genus

A category of biological classification that ranks above species and below family, used to group species that share common characteristics.

Species

A group of living organisms consisting of similar individuals capable of exchanging genes or interbreeding, and are classified under a common and distinct category in biology.