fallen angel

fallen angel
fallen angel ˌfallen ˈangel noun [countable] informal FINANCE
a bond that is not performing well now, but which performed well in the past:

• Those bonds in recent months have turned into fallen angels, as rating agencies downgrade them.

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fallen angel UK US noun [C] FINANCE
a bond that was once a very good investment but is now not worth much

Financial and business terms. 2012.

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