1. In Judaism, Christianity and Islam, an angel who rebelled against God and was exiled from heaven
   "The story of Lucifer is perhaps the most famous example of a fallen angel in religious texts"
    
2. [informal] A bond that has declined in value to become a junk bond
   "Investors were wary of the company's fallen angel bonds after its credit rating was downgraded"

Derived forms: fallen angels

Encyclopedia: Fallen angel