A junk bond rating assigned to fairly speculative debt instruments. A CC rating indicates the issuer is at greater risk of default than a CCC-rated issue and less than a C-rated issue if business, financia, or economic conditions change measurably. bond investors rely on bond ratings from organizations like Standard and Poor's, Moody's Investors Service, and Fitch ratings to evaluate the default risk associated with both corporate bonds and municipal bonds. Compare to investment Grade.
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