Caa2
Definition
A rating within speculative grade Moody's Long-term Corporate Obligation Rating. Obligations rated Caa2 are judged to be of poor standing and are subject to very high credit risk. Rating one notch higher is Caa1. Rating one notch lower is Caa3
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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University
Term of the Day
Overwriting
A speculative option strategy that involves selling call or put options on stocks that are believed to be overpriced or underpriced; the options are expected not to be exercised.
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