The public market for new speculative-grade bonds, also known as high-yield or junk bonds, was created virtually single-handedly by Michael Milken and his firm, Drexel Burnham Lambert, in the late 1970s
Prior to that time, the only corporate bonds that carried a speculative-grade rating were so-called _____, bonds that initially garnered an investment-grade rating, but later the issuer experienced financial distress so that their rating fell into the speculative-grade category.
a. discount bonds
b. concession bonds
c. fallen angels
d. cut rate bonds
C
You might also like to view...
Which of the following statements about gender roles is true?
A. When people leave a country, they also leave behind their cultural values and attitudes on gender norms. B. Decision-making and authority are clearly established as female prerogatives within most cultures. C. Gender roles are no longer evolving around the world. D. Culturally and individually, people view the role of men and women differently.
Africa represents a huge untapped market for shoes since most people walk barefoot. Thus, it will be easy to alter entrenched consumer behavior pattern if shoes are available
Indicate whether the statement is true or false
A company reported that its bonds with a par value of $50,000 and a carrying value of $57,000 are retired for $60,000 cash, resulting in a loss of $3,000. The amount to be reported under cash flows from financing activities is:
A. $7,000. B. $(3,000). C. $(57,000). D. $(60,000). E. $(7,000).
Despite multiple upturns and downturns in its economy, Russia's overall growth prospects appear promising, especially as a consumer market. However, there are still multiple dilemmas for firms trying to market their goods and services. These dilemmas include all of the following except Russia's
A. international sanctions. B. fluctuations in oil prices. C. widespread corruption. D. involvement in China. E. aging population and low both rates.