The term financial distress could apply to a firm unable to meet its obligations or to a specific security on which the issuer has defaulted.

Name: The term financial distress could apply to a firm unable to meet its obligations or to a specific security on which the issuer has defaulted.
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Financial distress can refer to both a company that is unable to meet its financial obligations and a security where the issuer has defaulted on its payments.

The Term Financial Distress Could Apply to a Firm Unable