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.
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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