Chartered Financial Analyst Level 2
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An upward sloping credit spread term structure for a company's bonds is best explained by:
An upward sloping credit spread term structure for a company's bonds is best explained by:
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A
a company with high-yield bonds facing imminent default.
B
a cyclical company in an economy coming out of a recession.
C
a company with investment-grade bonds operating in a stable industry.
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