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Allegion PLC issued a 10-year 3.5% coupon bond on 9/27/2021 for $40 million financing. You purchased a few bond contracts. Over the next decade, the

Allegion PLC issued a 10-year 3.5% coupon bond on 9/27/2021 for $40 million financing. You purchased a few bond contracts. Over the next decade, the U.S. federal reserve decides to gradually increase the market interest rate. The following lists the bond rating given by Moody's, a financial rating agency. Could you provide analyses on the trend of riskiness for bondholding? (Hint: What are the risk levels for pricing risk, reinvestment risk and default risk respectively?)

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