Standard & Poors ratings are grouped into two major categories, investment-grade and speculative- grade

Bonds that are rated (i) are included in the investment-grade group, while speculative-grade bonds are those rated (ii) .
(i) (ii)
a. AAA, AA, A BBB, BB, B, CCC, CC, C
b. AAA, AA, A, BBB BB, B, CCC, CC, C
c. AAA, AA, A, BBB, BB B, CCC, CC, C
d. AAA, AA, A, BBB, BB, B CCC, CC, C


B

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