Playing With Moodys

[yakers]

So I get this great idea to check out my stocks on the Moodys site. Moodys has been in the news for listing some 200+ companies they predict will fail. Now I did not get a subscription, that costs $$$ so I only get summary information. I put in one stock I tend to like and have owned for a while Heinz (HNZ) and I get some info that HNZ on Dec 15, 2008 had some 'dealer remarketable securities' for $800M @ (get this)15.59%.
Just what is this, a bond? How do I invest some $$ to get HNZ to pay me 15.59% due by 2020? If a bond or other financial agreement is paying at this high level does it mean HNZ is now toast? (junk?).
Is there useful info an amatuer can gleen from the Moodys site?

 

[haha]

There may be people on this board who can see the details on the security you mention, but I cannot. The most recent Heinz rating seems to be Baa2 which is in the middle of the lowest investment grade bond ratings.

Not wonderful, but not terrible either.

ha

 

[Koolau]

Wild guess is that such a bond would be "callable" which is a real pain if you are counting on the interest for income. Been there, done that, got the T-shirt.