JUNK BOND Definition

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JUNK BOND is a bond with a speculative credit rating of BB or lower. Such bonds offer investors higher yields than bonds of financially sound companies. Two agencies, Standard & Poors and Moodys Investor Services, provide the rating systems for companies credit. See HIGH YIELD JUNK.

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GROSS RECEIPTS is the total amount received prior to the deduction of any allowances, discounts, credits, etc.

AS-IS CONDITION is the transfer of title to a property in an existing condition with no warranties or representations.

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