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The head of risk at an investment bank that issues many of these deals puts it succinctly: "The CCC market is dominated by companies that don't intend to give the money back .It is not just the ugliest end of the junk spectrum that investors now think has a great personality.
On August 18th S&P downgraded the Russian government's foreign-currency credit rating to CCC from B+.
Policy, in other words, is not driving emissions reductions.It was to change this that the government set up the CCC.
The "passive nature" (PN) and "no knowledge" (NK) arguments fall into the first category, and the "no necessary connection" (NNC) and the "conservation is but continuous creation" (CCC) arguments fall into the latter category.
The PFA asserts the same as MA, but for partial orderings that have a property weaker than the ccc, called properness, introduced by Shelah.
Suslin conjectured that this is still true if one relaxes the requirement of containing a countable dense subset to being ccc, i.e., every collection of pairwise-disjoint intervals is countable.
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So investors face a limited upside and a big downside.That has tended to push investors towards ever riskier assets, such as CCC-rated bonds the lowest category excluding those issuers that have already defaulted.
High-volatility securities within each asset class, such as CCC-rated corporate bonds or 30-year Treasury bonds, tend to offer lower long-run returns than other assets in their category.
It cut Greece's rating to CCC+/C from B-/B, a level it considers puts the country at "substantial risk" of a default.
Industrial production is grinding to a halt and Standard & Poor's, a ratings agency, downgraded Venezuela's debt to CCC+ last month.
East Cameron was a poor credit risk from the start, with a CCC+ rating at the time the bond was issued.
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