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. The Alabama doctors declared it a huge reptile, and bestowed upon it the name of Basilosaurus.
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.
The Fallen Angel, walking invisibly behind, in Richard's shadow, flapped his crippled wings in triumph.
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 don't wonder that Totski was nearly driven to suicide by such a fallen angel."
Crawley the most delightful and accomplished of men, after Southdown, that fallen angel: and her mamma and sister, who were ladies of the most superior sort, managed everything for her, and regarded her with that amiable pity, of which your really superior woman always has such a share to give away.
ANGL holds 201 bonds and while it is a junk bond fund, fallen angels typically have less representation the speculative CCC rating group than do bonds born as junk.
A highlight for the festival was Storyhouse company in residence Fallen Angels Dance Theatre, who performed on the main stage for the first time.