Fallen angels

Also found in: Idioms.

Fallen angels

Bonds that at the time of issue were considered investment grade but that have dropped below that rating over time.

Fallen Angel

1. A junk bond that was once investment-grade.

2. A stock that has fallen steeply in price from its previous high.

In both cases, fallen angels may be undervalued, value investments or bad investments nearing bankruptcy. This makes investing in a fallen angel very risky but it has the possibility of a high return.
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References in classic literature ?
This to the chief of the fallen angels was grief and pain, and his heart boiled within him in anger.
The awe-stricken credulous slaves in the vicinity took it for the bones of one of the fallen angels.
And this shall be a symbol that you have not sought to withdraw yourself from the chain of human sympathies--which whoso would shake off must keep company with fallen angels.
I then explained to him as well as I could why our blessed Redeemer took not on Him the nature of angels but the seed of Abraham; and how, for that reason, the fallen angels had no share in the redemption; that He came only to the lost sheep of the house of Israel, and the like.
Remember that I am thy creature; I ought to be thy Adam, but I am rather the fallen angel, whom thou drivest from joy for no misdeed.
It was black as night, and on it were written, in the red flaming letters which are the handwriting of the fallen angel, 'Without pity and without remorse.
I know this much, that you did not go out to honest work, but went away with a rich man, Rogojin, in order to pose as a fallen angel.
I read comments and wonder if these are human beings or fallen angels (demons will be too harsh).
Jones, an author, field investigator, and lecturer on cutting-edge science, the paranormal, metaphysics, and other topics, and Flaxman, a paranormal researcher, explore the history and theories of demons, the devil, and fallen angels in various religious traditions, myths, folkloric and spiritual traditions, and the supernatural.
ETF name: PowerShares US High Yield Fallen Angels UCITS ETF
Hush Hush" is a story about fallen angels who roam the earth looking for vessels to possess and when they do they are able to mate with the women of the earth.
The pace at which corporate bond issuers became "fallen angels" -- lost their investment-grade ratingsaACAodid not surge as did corporate default rates during the 2008-09 financial crisis, says Moody's Investors Service in a new report, "Why Fallen Angels Fall.