What is the probability that the rating remains unchanged, Accounting Basics

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What is the probability that the rating remains unchanged

Question:

Corporation ABC issues $100 million of bonds. The bonds are rated BBB. The probability that the rating on the bonds is upgraded within the year is 8%. The probability of a downgrade is 4%. What is the probability that the rating remains unchanged?

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Accounting Basics: What is the probability that the rating remains unchanged

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Accounting Basics: What is the probability that the rating remains unchanged

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