Explanation:
High-yield bonds are generally below investment grade, meaning BB+ and lower. A rating of BBB- is still investment grade, so it is the exception.
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Q-198.2. Each of the following is an example of a high-yield bond issuer EXCEPT:
A
Issuer with a credit rating of “BBB-”
B
Original issuer
C
Fallen angel
D
Leveraged buyout
