Which of the following statement is correct?

		A callable bond issuer is likely to call a bond, if the company can issue another otherwise-equal bond with lower coupon rate
		A company with very low profitability ratio is more likely to issue an investment grade bond than junk bond
		A company that is about to bankrupt is more likely to issue an investment grade bond than junk bond
		Speculative grade bonds have lower default risk than investment grade bonds