Even the non-investment grade municipal paper averaged a 4.2% default rate for the past four decades.
FORBES: Loose Lips, Lots Of Hype Make Municipal Bonds Look Juicy
Junk bonds: talk about an awful description for non-investment grade debt.
FORBES: Junk Bonds Not So Junky Anymore
That rating is non-investment grade, three notches into "junk" status.
WSJ: Elan enters $1B royalty deal with Theravance
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