High-Yield Bonds ________

question 21

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).

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