What is the difference between an investment grade bond and high yield or “junk” bond? What grades of bonds are considered investment grade for each rating agency? What grades of bonds are considered high-yield or junk bonds for each rating agency? In your response be sure to discuss default risk and the relationship between default risk and investment grade? What makes a junk bond a junk bond? Would you expect to earn a higher or lower return on a junk bond compared to an investment grade bond, and why? Explain which of the bond components (par value, price, coupon rate, or maturity) indicated the level of default risk associated with the bond. What investment grade did Domino’s receive for this bond offering? How is this grade better for Domino’s than if it had received a junk rating? How does Domino’s backing of its bonds with revenue streams decrease the riskiness of the bonds?