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You should be able to find that information in the prospectus for the issue. It should tell you how this debt ranks with other debt of the company.

There used to be big books in the reference department of your local library that would list companies, all their debt issues, and relative standing.

Personally, I'd trust the bond ratings. Junior debt or not if the issue is investment grade BBB or better its probably ok. Below that, yields are higher but not worth the ulcers.

Less than BBB means the rating agency could not find assets to cover the issue. So company has to succeed to be able to repay your bond when it matures.
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