Question: Table 14.9 Standard & Poor's Average One-Year Global Migration Rates, 1981-2009 (%) Year-end Rating AAA AA A BBB BB B CCC-C Default Unrated AAA 88.21

Table 14.9 Standard & Poor's Average
Table 14.9 Standard & Poor's Average One-Year Global Migration Rates, 1981-2009 (%) Year-end Rating AAA AA A BBB BB B CCC-C Default Unrated AAA 88.21 7.73 0.52 0.06 0.08 0.03 0.06 0.00 3.31 AA 0.56 86.60 8.10 0.55 0.06 0.09 0.02 0.02 4.00 Initial 0.04 1.95 87.05 5.47 0.40 0.16 0.02 0.08 4.83 Rating BBB 0.01 0.14 4 3.76 84.16 4.13 0.70 0.16 0.26 6.68 BB 0.02 0.05 0.18 5.17 75.52 7.48 0.79 0.97 9.82 B 0.00 0.04 0.15 0.24 5.43 72.73 4.65 4.93 11.83 CCC-C 0.00 0.00 0.21 0.31 0.88 11.28 44.98 27.98 14.37 Standard & Poor's: *2009 Annual Global Corporate Default Study and Rating Transitions,' Standard & Poor's Global Fixed Income Research, (2010)

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