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High-Yield Bond

A bond with a low rating. Bonds rated less than Baa3 by Moody's or BBB- by S&P or Fitch are considered high-yield bonds. They have higher yields because they have a higher risk of default on the part of the issuer. High-yield bonds are considered sufficiently high-risk that the law does not allow banks to invest in them. They are also called low-grade bonds, and, informally, junk bonds.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


Of or relating to debt that has a credit rating of B or below. Low-grade debt offers an above-average yield but entails substantial risk because promised payments may not be made in a timely manner.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
Survival rates in patients with low-grade glioma after intraoperative magnetic resonance image guidance.
Accurate understanding of the clinical behavior and prognostication of MASC awaits further clinical research, but so far MASC appears to be a low-grade carcinoma with behavior similar to acinic cell carcinoma and a generally favorable prognosis.
The average age of women with low-grade cancer falls in the early 40s, and it is not uncommon to see women in their 20s, 30s, and 40s--and the occasional teenager--with the disease.
As shown in other studies, a high-grade brain tumour shows greater rCBV than a low-grade tumour.
With 1 case of carcinoma in situ (CIS), 3 cases of low-grade transitional cell carcinoma (TCC) (1973 WHO grade 2) and 4 cases of high-grade TCC (1973 WHO grade 3), one would have expected the CIS to be positive and probably 3 out of 4 high-grade cancers also, leading to an expected overall sensitivity of around 50%.
The inclusion criteria for this study were patients registered in the ASR between 1979 and 2010 with a low-grade fibrosarcoma, resulting in a total of 30 patients.
Similarly, in low-grade dysplasia, RFA upon disease progression to high-grade dysplasia also bested the strategy of surveillance until cancer and esophagectomy, resulting in 0.17 more QALYs and costing $7,446 less, assuming a 0.5% progression rate.
The risk for the invasive low-grade serous ovarian cancer was significantly stronger than that for its high-grade counterpart (odds ratio, 1.94; 95% confidence interval, 1.21-3.11; P = .01).
Although Debbie didn't succumb to waiting and changed the term to "watch and live" - she said that more support and research was needed to be given to those with a low-grade tumour.
Microscopic examination of an office punch biopsy of the mass showed findings consistent with a low-grade fibromyxoid sarcoma.
For those interested in low-grade entertainment and who can't deal with X Factor or the TV soaps, the current mess-up is shaping up to be an interesting bit of drama.

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