But Oyster Bay received downgrade after downgrade, sliding 10 notches to its current junk rating of BB + with the possibility that it could drop further. (newsday.com)
For example, Overseas Shipholding Group (equity ticker OSG) is a deeply junk rated oil tanker company that has seen its bonds drop from trading around par (par means 100 cents on the dollar when comparing the market price to the face amount of the bonds) to distressed levels between 60 and 70 cents on the dollar. (learnbonds.com)
Plenty of investment - grade credit bonds suspended coupon payments in the Depression, transiting directly from A to D rating without even making a pit stop at a C junk rating. (awealthofcommonsense.com)