Definition: Used in leveraged buyouts, a junk bond has speculative credit rating of BB or lower.
Definition: [crh] A bond with a speculative credit rating of BB (S&P) or BA (Moody's) or lower. Junk or high-yield bonds offer investors higher yields than bonds of financially sound companies. Two agencies, Standard & PooDefinition: rs and Moody's Investor Services, provide the rating systems for companies' credit.
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