Fallen-angel meaning

(finance) A bond that has declined in value due to credit deterioration to become a junk bond.
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A bond that was investment-grade quality when it was issued but which has been reduced to junk, or non- investment grade, status. These bonds become fallen angels because the company has added too much debt or because sales have fallen drastically and no longer enable the company to sufficiently cover its interest payments.
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(Judaism, Christianity, Islam) An angel who rebelled against God and was exiled from heaven.
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A (usually attractive) person, usually a woman, who has become deprived of money or morals.
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