C

Definition:

A rating within speculative grade Moody's Long-term Corporate Obligation Rating. Obligations rated C are the lowest rated class of bonds and are typically in default, with little prospect for recovery of principal or interest. Rating one notch higher is Ca.

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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Snake

Arrangement established in 1972, that ties European currencies to each other within specified limits.

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