A fallen angel bond is best described as a bond issued: Below investment grade. At an original-issue
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A fallen angel bond is best described as a bond issued:
Below investment grade.
At an original-issue discount.
As investment grade, but it has declined to speculative grade.
As a secured bond, but the collateral value has declined below par value.
Related Book For
Auditing and Assurance Services
ISBN: 978-0077862343
6th edition
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
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