Consider the following statements;
Statement I - Syndicated lending spreads the risk of borrower default across multiple lenders.
Statement II - The syndicated loan can be a fixed amount/lump sum of funds, but cannot be a credit line.
Which one of the following is correct in respect of the above statements?
a. Both Statement I and Statement II are correct and Statement II explains Statement I
b. Both Statement I and Statement II are correct and Statement II does not explain Statement I
c. Statement I is correct, but Statement II is incorrect
d. Statement I is incorrect, but Statement II is correct