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sd-10-EFTA01458280Dept. of Justice

EFTA Document EFTA01458280

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I September 2015 Corporate Credit: Back to school - The edge of normality [Figure 35: USD AA (left), Single-A (middle) and BBB (right) Percentile Histories 100% ..........1 5yr -5-10er >10yr 100% -1 5yr ----5-10yr >10yr 80% T 90% 20% 60% 40% 40% 20% 20% 0% 0% Jen 14 May 14 Sop 14 Jen 15 May 15 Jan 14 May14 Sop 14 Jen 15 May 15 Same Dwane IWO 100% 1 -1 Syr - 5-10Yr >10yr 80% 60% 40% 20% 0% Jan 14 May 14 Sop 14 Jan 15 May 15 So this analysis generally backs up

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Dept. of Justice
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sd-10-EFTA01458280
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