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If a bond issuer failed to honor terms of the indenture prohibiting the corporation from merging with another corporation a. the bond issue would be

If a bond issuer failed to honor terms of the indenture prohibiting the corporation from merging with another corporation

a. the bond issue would be considered a fallen angel

b. the bond issue would be considered in default

c. the corporation woul dbe obliged to exercise an extendible option

d. bondholders could exchange their bonds for stock of the issuing corporation

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