Which of the following statements is$$ FALSE?

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Part $1$

A$.$

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

B$.$

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

C$.$

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

D$.$

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.