junk bond

Noun
  1. A (speculative) bond with a credit rating of BB or lower;
    Issued for leveraged buyouts and other takeovers by companies with questionable credit (synset 113359454)
    is a type of: bond, bond certificate - a certificate of debt (usually interest-bearing or discounted) that is issued by a government or corporation in order to raise money; the issuer is required to pay a fixed sum annually until maturity and then a fixed sum to repay the principal
    same as: high-yield bond

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