Bank of America Deck
What's the difference between investment-grade and high-yield debt, and what makes a loan 'leveraged'? Who buys each?
Model answer
Investment grade means ratings of BBB-/Baa3 or better — lower default risk, tighter spreads, typically looser covenants; high yield (junk) is anything below, paying wider spreads with stronger…
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More from Bank of America Deck
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