9. Credit Risk (LO4, CFA4) A fallen angel bond is best described as a bond issued: a.
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9. Credit Risk (LO4, CFA4) A fallen angel bond is best described as a bond issued:
a. Below investment grade.
b. At an original-issue discount.
c. As investment grade, but it has declined to speculative grade.
d. As a secured bond, but the collateral value has declined below par value.
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Related Book For 
Fundamentals Of Investments Valuation And Management
ISBN: 9781260013979
9th Edition
Authors: Bradford Jordan, Thomas Miller, Steve Dolvin
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