ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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HIGH YIELD (JUNK) Definition
HIGH YIELD (JUNK) is bonds and preferred stocks having an S&P/Moody's rating of BB+/Ba1 or lower, and NAIC ratings of"3", "4", "5", or "6". Below investment grade securities have greater risk and therefore compensate investors with higher market yields. In addition to new issues, high yield securities can evolve from older issues with declining ratings, or can be created through leveraged buyouts where management uses the assets of the company as collateral for the issue.
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KIKIN, in Japan, is a capital foundation fund.
ASSET APPROACH is a general way of determining a value indication of a business, business ownership interest, or security by using one or more methods based on the value of the assets of that business net of liabilities.