<owl:Class xmlns="https://folio.openlegalstandard.org/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:v1="http://www.loc.gov/mads/rdf/v1#" xmlns:owl="http://www.w3.org/2002/07/owl#" xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#" xmlns:xsd="http://www.w3.org/2001/XMLSchema#" xmlns:folio="https://folio.openlegalstandard.org/" xmlns:rdfs="http://www.w3.org/2000/01/rdf-schema#" xmlns:skos="http://www.w3.org/2004/02/skos/core#" rdf:about="https://folio.openlegalstandard.org/R8uMT43qzzp1HYiNimvQ0dC">
  <rdfs:subClassOf rdf:resource="https://folio.openlegalstandard.org/RjVgVOLkDyEKic8xZS06iB"/>
  <rdfs:label>Speculative Grade</rdfs:label>
  <skos:altLabel>High-Risk Bond</skos:altLabel>
  <skos:altLabel>High-Yield Debt</skos:altLabel>
  <skos:altLabel>Junk Grade</skos:altLabel>
  <skos:altLabel>Non-Investment Grade</skos:altLabel>
  <skos:prefLabel>Junk Bond</skos:prefLabel>
  <skos:definition>Speculative Grade refers to a category of credit rating that indicates a higher risk of default, making the debt securities less suitable for conservative investors. These ratings are assigned by credit rating agencies and generally include ratings below BBB on the Standard &amp; Poor's and Fitch scales, and below Baa3 on the Moody's scale.</skos:definition>
  <skos:example>B Rating</skos:example>
  <skos:example>BB Rating</skos:example>
  <skos:example>C Rating</skos:example>
  <skos:example>CC Rating</skos:example>
  <skos:example>CCC Rating</skos:example>
  <skos:example>D Rating</skos:example>
</owl:Class>