Lloyd Industries raised $28 million in order to upgrade its roller kiln furnace for the production of ceramic tiles. The company funded this by issuing 15-year bonds with a face value of $1,000 and a coupon rate of 6.2%, paid annually. The above table shows the yield to maturity for similar 15-year corporate bonds of different ratings issued at the same time. When Lloyd Industries issued their bonds, they received a price of $962.63. Which of the following is most likely to be the rating these bonds received?
Definitions:
Memory Researcher
A scientist who studies how the brain encodes, stores, and retrieves information.
Mary Calkins
An early American psychologist who became the first woman to serve as president of the American Psychological Association.
Early 1900s
A time period referring to the first decade of the 20th century, often associated with various significant historical events and movements.
Animal Studies
Research conducted on animals to understand biological and psychological processes that may also apply to humans.
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