Inside the High Yield Debt Market with Rajay Bagaria
Excess Returns
00:00
The Difference Between Investment Grade and High Yield Debt
Moody's and S&P have a dividing line: BAA3 for investment grade, BAA1 for high yield. The credit rating designation is "purely arbitrary," he says. Debt that gets downgraded tends to sell off in advance of the ratings event. There are certain types of institutions that can't hold high yield debt,.
Transcript
Play full episode
