On the other hand,absolute risk is lower than for equities because coupon payments cannot be waived and,in the event of a default,bondholders are ranked highly among creditors.

• 另一方面，这些债券投资者承担的绝对风险却又低于股东，因为息票的付款是不能勾销的，而在公司无法还债时，债券持有人的债权，有很高的优先权。