A "fallen angel" is a bond that:
A) Lowered its annual interest payment.
B) Has moved from being a long-term obligation to being a short-term obligation.
C) Has moved from having a yield to maturity in excess of the coupon rate to having a yield to maturity that is less than the coupon rate.
D) Has moved from being an investment-grade bond to being a junk bond.
E) Is rated as BA by one rating agency and rated as BB by another rating agency.
Correct Answer:
Verified
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