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You are a corporate bond portfolio manager working for Endicott Industries pension fund. Your boss has asked you to analyze a possible investment in the

You are a corporate bond portfolio manager working for Endicott Industries pension fund. Your boss has asked you to analyze a possible investment in the bonds of Kirkwood Pipe, a pipe manufacturer. The companys bonds are rated B2/B-. These bonds are considered A. High-yield bonds B. Medium grade bonds C. Investment grade bonds D. Hybrid bonds

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