junk bond -
a (speculative) bond with a credit rating of BB or lower; issued for leveraged buyouts and other takeovers by companies with questionable credit
junk bond -
A bond an instrument of debt which is considered below "investment grade" due to a significant risk of default by the issuer. The interest rate is higher in order to compensate holders for that risk.
OmegaWiki Dictionary
Ω
junk bond A bond that is rated below investment grade.