Trendrating issued early downgrades (mid-late 2016) on Fixed Income securities well ahead of the recent decline. We issued a report in November which highlighted downgrades to a “C” rating. Most of those same securities are currently rated “D”.
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![Bond ETF Downgrades](https://www.trendrating.com/wp-content/uploads/2017/03/bond-etf-downgrades-e1489762826656.jpg)