1. a (speculative) bond with a credit rating of BB or lower; issued for leveraged buyouts and other takeovers by companies with questionable credit; [syn: junk bond, high-yield bond]
WordNet (r) 3.0 (2006):
junk bond
n 1: a (speculative) bond with a credit rating of BB or lower;
issued for leveraged buyouts and other takeovers by
companies with questionable credit [syn: junk bond,
high-yield bond]