Business, 24.07.2019 22:20 cadenbukvich9923

Assume the city of tulsa, oklahoma issued bonds 3 years ago as follows: 8.75% $150 million at 8.75%. the original maturity was 25 years, par value is $1,000, with interest paid annually. the original credit rating was a1/a+ by moody's and s& p, respectively. if the rating agencies downgrade the credit ratings to a3/a-, investors will want a 9.10% return. what would happen to the price per bond if that happens today? (6 decimal places).

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Assume the city of tulsa, oklahoma issued bonds 3 years ago as follows: 8.75% $150 million at 8.75%...