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Investments glossary

Fallen Angel

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Quotes of the day:

I wouldn\'t recommend sex, drugs or insanity for everyone, but they\'ve always worked for me.

— Hunter S. Thompson

A fallen angel, in the investing world, is a bond that was initially given an investment-grade rating but has since been reduced to junk bond status. The downgrade is caused by a deterioration in the financial condition of the issuer.



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