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

Risk controlled arbitrage

A self-funding, self-hedged series of transactions that generally use mortgage securities (MBS) as the primary assets.

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