Altman Reports the Default Rate on Junk Bonds for the 1980's

Altman reports the default rate on junk bonds for the 1980's were less than 4% until 1989 but in 1990 and 1991:

A) declined dramatically to 1.1% and 1.3% respectively and stayed at these levels throughout the 1990's.
B) rose dramatically to over 10% before falling to under 2% for 1993 to 1997.
C) stayed about the same because there were no new offerings.
D) the market closed as no firms have been able to fill Drexel Burnham's role.