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Definition of Fallen angel
1. Noun. (Judaism Christianity Islam) an angel who rebelled against God and was exiled from heaven. ¹
2. Noun. A (usually attractive) person, usually a woman, who has become deprived of money or morals. ¹
3. Noun. (finance) A bond that has declined in value due to credit deterioration to become a junk bond. ¹
¹ Source: wiktionary.com