EFTA Document EFTA01462184

CLO Collateral Performance during the Crisis(') CLO Managers Outperform with Lower Defaults U.S. CLO Managed Defaults -U. S Loan Index Defaults <4 .> 04, # 54 'I 40 Oa. CLO Caa Bucket Levels 140% 12 0% 10 0% 8.0% 60% 4.0% 2.0% 00% itts Piiistietinnt-eAn iV or° eirt iet el'?" "Nft e 40,1 a et' Deutsche Bank Corporate Banking & Securities CLO Senior OC Levels - Median 132% 129% 126% 123% 120% 117% 114% 111% if" 4 ' "'erect, eiterte €6)45 e e co# *1° t 04'