3-As you realize corporations issue long-term debt in the form of bonds all the time. There are different characteristics of these bonds that affect their yields. Given the following bond listing for Wal-Mart Corp, list and explain the debt characteristics (Credit (default) risk, Liquidity, Tax Status, Term to maturity, Call feature, Conversion feature) and if they are adding or subtracting from the yield on this bond.

Wal-Mart Corp	As of 19-Aug-2015

OVERVIEW

Price:	118.65
Coupon (%):	5.875
Maturity Date:	15-Sept-2037
Yield to Maturity (%):	5.151
Current Yield (%):	4.951
Fitch Ratings:	AA
Coupon Payment Frequency:	Semi-Annual
First Coupon Date:	15-Mar-2008
Type:	Corporate
Callable:	No

OFFERING INFORMATION

Quantity Available:	15
Minimum Trade Qty:	5
Dated Date:	11-Sep-2007