What is the meaning of Fallen angels?

Bonds that at the time of issue were considered investment grade but that have dropped below that rating over time.

Barry Goldsmith
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APABarry Goldsmith. (2010). fallen angels. Retrieved September 20, 2026, from http://smartdefine.org/fallen_angels/definitions/1153614
ChicagoBarry Goldsmith. 2010. "fallen angels" http://smartdefine.org/fallen_angels/definitions/1153614 (accessed September 20, 2026).
HarvardBarry Goldsmith 2010, fallen angels, Smart Define, viewed 20 September, 2026, <http://smartdefine.org/fallen_angels/definitions/1153614>.
MLABarry Goldsmith. "fallen angels" 21 October 2010. Web. 20 September 2026. <http://smartdefine.org/fallen_angels/definitions/1153614>