Which of the following are true concerning bond ratings?

I. They have a greater impact on the price and yield of junk bonds than on investment grade bonds. II. They provide investors with a convenient way to assess the relative risk of various bond issues.

III. They are provided by an independent government agency.

IV. They have a significant effect on a bond's price and yield.

Group of answer choices

III only

I, II and IV only

I and II only

II and IV only