Nov 7 (Reuters) - Blackrock's Michael Fredericks:
* "Longer-duration assets may be particularly at risk as the federal reserve prepares to hike interest rate"
* Shorter-maturity, higher-quality high yield (BB, B rated) bond looks like potentially interesting place for consistent cash flow
* Some pockets of high yield bonds look better than others from a risk/reward standpoint
* Yields on CCC-rated high yield bonds are quite low on 10-year basis given historically higher default rates in this low-quality portion of market Further company coverage: