Which of the following statements is$$ FALSE

A$.$

A higher yield to maturity does not necessarily imply that a$$ bond's expected return is higher.

B$.$

Because the cash flows promised by the bond are the most that bondholders can hope to$$ receive, the cash flows that a purchaser of a bond with credit risk expects to receive may be less than that amount.

C$.$

Because the yield to maturity for a bond is calculated using the promised cash$$ flows, the yield of bonds with credit risk will be lower than that of otherwise identical defaultminusfree bonds.

D$.$

By consulting bond$$ ratings, investors can assess the creditminusworthiness of a particular bond issue.