Caa3

Definition:

A rating within speculative grade Moody's Long-term Corporate Obligation Rating. Obligations rated Caa3 are judged to be of poor standing and are subject to very high credit risk. Rating one notch higher is Caa2. Rating one notch lower 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

Credit quality

A measure of a bond issuer's ability to repay interest and principal in a timely manner. Rating agencies assign letter designations such as AAA, AA, and so forth. The lower the rating, the higher the... Read More

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