Difference between revisions of "Fallen Angel"

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Revision as of 15:14, 3 December 2019

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A fallen angel is a bond that was rated as investment grade when issued, but has subsequently been rated as junk due to the deteriorating financial condition of its issuer.

The big rating firms that might downgrade the bonds are Fitch, Moody’s and Standard & Poor’s (S&P). [1]


References

  1. What is a Fallen Angel?. Corporate Finance Institute.