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Most bonds and bond issuers are rated by one or more of the three SROs which include Standard & Poor's, Moody's, and Fitch. What is

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Most bonds and bond issuers are rated by one or more of the three SROs which include Standard & Poor's, Moody's, and Fitch. What is the key credit rating level of a bond or bond issuer which makes that bond or issuer 'investment grade' and below which the bonds or issuer is considered 'junk' or 'speculative grade? ORA OB OBB O BBB

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