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Which of the following statements regarding bonds is false? Speculative grade bonds have default risk whereas investment grade bonds do not. The default premium for

Which of the following statements regarding bonds is false?

Speculative grade bonds have default risk whereas investment grade bonds do not.
The default premium for AAA-rated bonds is lower than the default premium for BBB-rated bonds.
Credit risk means that a bond issuer may default on its bonds.
Bond ratings assess the creditworthiness of the bond issuer.

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