Debt issued via public offering or public placement (Rule 144A) that is rated below investment grade by S&P or Moody's. This means that the debt is rated below the top four rating categories (i. E. S&P BB+, Moody's Ba2 or below). The lower rating is indicative of higher risk of default, and therefore the debt carries a higher coupon or yield than investment grade debt. Also referred to as Junk bonds or Sub-investment grade debt.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). high yield debt. Retrieved September 21, 2026, from http://smartdefine.org/high_yield_debt/definitions/1155403 |
| Chicago | Barry Goldsmith. 2010. "high yield debt" http://smartdefine.org/high_yield_debt/definitions/1155403 (accessed September 21, 2026). |
| Harvard | Barry Goldsmith 2010, high yield debt, Smart Define, viewed 21 September, 2026, <http://smartdefine.org/high_yield_debt/definitions/1155403>. |
| MLA | Barry Goldsmith. "high yield debt" 21 October 2010. Web. 21 September 2026. <http://smartdefine.org/high_yield_debt/definitions/1155403> |