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Answer the following 8 questions, based on chapter 8 readings and the exhibits below:

1. Which bond issue in Exhibit 3 has the highest bond rating?
2. Which bond has the longest maturity date?
3. What was Boeing’s highest rating and lowest rating, according to Exhibit 1?
4. What will it take for Boeing to regain the higher rating?
5. According to Exhibit 4, what is the probability of default for a Boeing bond maturing in December 2022?
6. What is the probability of default for the Apple bond maturing 02/23/46?
7. Which bonds in Exhibit 2 would be considered “speculative grade” or “junk”?
8. What does a “D” rated bond signify?

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