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Explain how credit risk would effect a bond's rating and ultimately the bond's market price. How would the following affect the credit risk of a...

1.     Explain how credit risk would effect a bond's rating and ultimately the bond's market price. How would the following affect the credit risk of a bond and why:

a.     The bond has a sinking fund

b.     The bond is subordinated to other debt

c.      The bond is secured by collateral

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