Collateralized Bond Obligation - CBO

外汇网2021-06-19 20:53:40 125

An investment-grade bond backed by a pool of junk bonds. Junk bonds are typically not investment grade, but because they pool several types of credit quality bonds together, they offer enough persification to be "investment grade."

|||Similar in structure to a collateralized mortgage obligation (CMO), but different in that CBOs repsent different levels of credit risk, not different maturities.

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