The Costs Associated with a Non-Investment Grade Issue Are

The costs associated with a non-investment grade issue are:

A) about the same in terms of gross spread and total direct costs as an investment grade
Issue.
B) about the same, on average, in terms of gross spread and total direct costs whether the
Issue is straight or convertible debt.
C) much lower in terms of economies of scale for a non-investment grade issue versus and
Investment grade issue.
D) Both A and C.
E) Both B and C.