Worksheet Title

6.30 Market data for Appendix to Chapter 66.31 Base sector correlations and Recovery rates6.32 Accumulative default probabilities 6.33 Original Portfolio - with full details6.34 Constructed Asset correlation matrix from sectoral factors6.35 This worksheet runs a single scenario to calculate the PV of payments to be made under the CDS6.36 This worksheet runs a single antithetic scenario to calculate the PV of payments to be made under the CDS6.37 This worksheet will run a range of scenarios (currently 500 normal and 500 antithetic), build a Loss Distribution and fit a Weibull distribution

Market data for Appendix to Chapter 6Base sector correlations and Recovery ratesAccumulative default probabilities Original Portfolio - with full detailsConstructed Asset correlation matrix from sectoral factorsThis worksheet runs a single scenario to calculate the PV of payments to be made under the CDSThis worksheet runs a single antithetic scenario to calculate the PV of payments to be made under the CDSThis worksheet will run a range of scenarios (currently 500 normal and 500 antithetic), build a Loss Distribution and fit a Weibull distribution

This worksheet will run a range of scenarios (currently 500 normal and 500 antithetic), build a Loss Distribution and fit a Weibull distribution

6.30: Market data for Appendix to Chapter 6

Today's date 4-Feb-08

Q = 4.61

6-Feb-08 0 16-May-08 0.25 0.9921996-Aug-08 0.50 0.9845826-Nov-08 0.75 0.9777576-Feb-09 1.00 0.9713976-May-09 1.25 0.9653836-Aug-09 1.50 0.9591126-Nov-09 1.75 0.9525868-Feb-10 2.00 0.9454586-May-10 2.25 0.9382496-Aug-10 2.50 0.9301148-Nov-10 2.75 0.9214217-Feb-11 3.00 0.9127646-May-11 3.25 0.9042778-Aug-11 3.50 0.8950807-Nov-11 3.75 0.8860336-Feb-12 4.00 0.8768307-May-12 4.25 0.8674606-Aug-12 4.50 0.8579396-Nov-12 4.75 0.8481816-Feb-13 5.00 0.8383086-May-13 5.25 0.8286576-Aug-13 5.50 0.8186236-Nov-13 5.75 0.8085726-Feb-14 6.00 0.7985426-May-14 6.25 0.7888936-Aug-14 6.50 0.7789866-Nov-14 6.75 0.7691566-Feb-15 7.00 0.7594116-May-15 7.25 0.7500706-Aug-15 7.50 0.7404766-Nov-15 7.75 0.7309148-Feb-16 8.00 0.7211506-May-16 8.25 0.7119808-Aug-16 8.50 0.7021997-Nov-16 8.75 0.6927756-Feb-17 9.00 0.6834328-May-17 9.25 0.6741997-Aug-17 9.50 0.6650776-Nov-17 9.75 0.6560666-Feb-18 10.00 0.6470707-May-18 10.25 0.6383786-Aug-18 10.50 0.6296976-Nov-18 10.75 0.6210266-Feb-19 11.00 0.612459

6-May-19 11.25 0.6042626-Aug-19 11.50 0.5958866-Nov-19 11.75 0.5876026-Feb-20 12.00 0.5794096-May-20 12.25 0.5714766-Aug-20 12.50 0.5634596-Nov-20 12.75 0.5555378-Feb-21 13.00 0.5475476-May-21 13.25 0.5402446-Aug-21 13.50 0.5326278-Nov-21 13.75 0.5249577-Feb-22 14.00 0.5176416-May-22 14.25 0.5106718-Aug-22 14.50 0.5033467-Nov-22 14.75 0.4963706-Feb-23 15.00 0.4895118-May-23 15.25 0.4827707-Aug-23 15.50 0.4761456-Nov-23 15.75 0.4696326-Feb-24 16.00 0.4631596-May-24 16.25 0.4569336-Aug-24 16.50 0.4506756-Nov-24 16.75 0.4445216-Feb-25 17.00 0.4384696-May-25 17.25 0.4327086-Aug-25 17.50 0.4268506-Nov-25 17.75 0.4210876-Feb-26 18.00 0.4154186-May-26 18.25 0.4100186-Aug-26 18.50 0.4045256-Nov-26 18.75 0.3991208-Feb-27 19.00 0.3936846-May-27 19.25 0.3887296-Aug-27 19.50 0.3835708-Nov-27 19.75 0.3783817-Feb-28 20.00 0.3734348-May-28 20.25 0.3685627-Aug-28 20.50 0.3637636-Nov-28 20.75 0.3590376-Feb-29 21.00 0.3543327-May-29 21.25 0.3497996-Aug-29 21.50 0.3452866-Nov-29 21.75 0.3407946-Feb-30 22.00 0.3363716-May-30 22.25 0.3321586-Aug-30 22.50 0.3278706-Nov-30 22.75 0.3236506-Feb-31 23.00 0.3194966-May-31 23.25 0.3155386-Aug-31 23.50 0.3115126-Nov-31 23.75 0.3075496-Feb-32 24.00 0.3036496-May-32 24.25 0.299893

6-Aug-32 24.50 0.2961148-Nov-32 24.75 0.2923167-Feb-33 25.00 0.2886976-May-33 25.25 0.2852518-Aug-33 25.50 0.2816297-Nov-33 25.75 0.2781766-Feb-34 26.00 0.2747768-May-34 26.25 0.2714267-Aug-34 26.50 0.2681266-Nov-34 26.75 0.2648736-Feb-35 27.00 0.2616327-May-35 27.25 0.2585066-Aug-35 27.50 0.2553896-Nov-35 27.75 0.2522816-Feb-36 28.00 0.2492166-May-36 28.25 0.2462566-Aug-36 28.50 0.2432716-Nov-36 28.75 0.2403256-Feb-37 29.00 0.2374176-May-37 29.25 0.2346396-Aug-37 29.50 0.2318036-Nov-37 29.75 0.2290028-Feb-38 30.00 0.226176

6.31: Base sector correlations and Recovery rates

Base correlation matrix between sectors

Sectors Financial Chemical Mining Oil

1 2 3 4

0.0 Financial 100% 30% 20% 30%

0.2 Chemical 30% 100% 40% 60%

0.4 Mining 20% 40% 100% 50%

0.6 Oil 30% 60% 50% 100%0.8 Transport 40% 30% 40% 80%

Shifted correlation matrix between sectors

Lamda 0%

Sectors Financial Chemical Mining Oil1 2 3 4

Financial 100% 30% 20% 30%Chemical 30% 100% 40% 60%Mining 20% 40% 100% 50%Oil 30% 60% 50% 100%Transport 40% 30% 40% 80%

Recovery rates(% of Face Value)

Transport Mean St dev5 Senior secured 53.80% 26.86%

40% Senior unsecured 51.13% 25.45%30% Senior subordinated 38.52% 23.81%40% Subordinated 32.74% 20.18%80% Junior subordinated 17.09% 10.90%

100%

Transport5

40%30%40%80%

100%

6.32: Accumulative default probabilities (from S & P)

0 3 6 9 12 15AAA 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

AA 0.00% 0.00% 0.00% 0.01% 0.02% 0.03%A 0.00% 0.00% 0.00% 0.01% 0.02% 0.03%

BBB 0.00% 0.02% 0.05% 0.09% 0.13% 0.18%BB 0.00% 0.24% 0.51% 0.80% 1.12% 1.47%

B 0.00% 1.02% 2.12% 3.27% 4.46% 5.69%CCC 0.00% 6.48% 12.26% 17.42% 22.03% 26.15%Time 0 0.25 0.5 0.75 1 1.25

18 21 24 27 30 33 360.00% 0.00% 0.00% 0.01% 0.01% 0.01% 0.01%0.04% 0.06% 0.08% 0.10% 0.12% 0.14% 0.17%0.04% 0.06% 0.08% 0.10% 0.12% 0.15% 0.18%0.24% 0.30% 0.38% 0.46% 0.54% 0.64% 0.74%1.84% 2.24% 2.65% 3.09% 3.54% 4.02% 4.50%6.94% 8.19% 9.46% 10.72% 11.98% 13.23% 14.47%

29.85% 33.17% 36.15% 38.84% 41.26% 43.46% 45.44%1.5 1.75 2 2.25 2.5 2.75 3

39 42 45 48 51 54 570.02% 0.02% 0.03% 0.03% 0.04% 0.04% 0.05%0.19% 0.22% 0.25% 0.29% 0.32% 0.36% 0.39%0.21% 0.25% 0.28% 0.33% 0.37% 0.42% 0.47%0.85% 0.97% 1.10% 1.23% 1.37% 1.52% 1.68%5.01% 5.52% 6.05% 6.58% 7.13% 7.68% 8.24%

15.69% 16.89% 18.07% 19.23% 20.37% 21.48% 22.57%47.24% 48.87% 50.36% 51.73% 52.97% 54.12% 55.17%

3.25 3.5 3.75 4 4.25 4.5 4.75

600.06%0.43%0.52%1.84%8.81%

23.64%56.14%

5

6.33: Original Portfolio - with full details

BaseAsset Sector Correlation Rating Seniority

with Total size =sector Expected Loss =

Expected premium =

1 Chemical 2.6% BB Senior unsecured2 Financial 75.4% A Senior subordinated3 Oil 87.2% BB Senior unsecured4 Financial 23.1% BB Senior subordinated5 Transport 8.2% A Senior unsecured6 Transport 42.4% BB Senior secured7 Transport 44.3% BB Senior secured8 Chemical 97.7% BBB Senior secured9 Oil 53.1% A Senior secured

10 Mining 38.1% A Senior secured11 Transport 17.9% BBB Senior subordinated12 Transport 89.9% BB Senior secured13 Transport 34.2% BB Senior unsecured14 Oil 98.8% A Senior unsecured15 Oil 66.4% BBB Senior unsecured16 Transport 19.1% BB Senior secured17 Chemical 30.0% BB Senior secured18 Financial 15.8% A Senior secured19 Mining 66.2% BBB Senior unsecured20 Mining 16.3% BB Senior unsecured21 Chemical 21.1% BB Senior secured22 Oil 13.4% BBB Senior subordinated23 Chemical 77.6% BBB Senior secured24 Financial 36.1% BBB Senior subordinated25 Financial 7.8% BBB Senior subordinated26 Oil 86.2% BB Senior unsecured27 Chemical 21.5% A Senior unsecured28 Chemical 56.3% A Senior unsecured29 Oil 74.1% BBB Senior unsecured30 Chemical 15.4% A Senior unsecured31 Transport 49.0% A Senior secured32 Financial 66.4% A Senior subordinated33 Chemical 52.1% BB Senior secured34 Oil 16.8% BBB Senior unsecured35 Chemical 72.0% BBB Senior unsecured36 Chemical 16.2% BBB Senior unsecured37 Oil 34.5% A Senior subordinated38 Oil 85.3% BB Senior subordinated39 Mining 11.6% BB Senior unsecured40 Financial 28.7% BBB Senior unsecured41 Transport 29.3% BBB Senior secured

42 Chemical 75.3% A Senior secured43 Oil 28.8% A Senior secured44 Chemical 37.1% BB Senior subordinated45 Mining 61.0% BBB Senior unsecured46 Mining 33.7% A Senior secured47 Mining 48.6% BB Senior subordinated48 Chemical 48.9% BB Senior secured49 Transport 21.9% BB Senior secured50 Transport 55.0% BB Senior unsecured51 Chemical 94.3% A Senior unsecured52 Transport 28.3% BBB Subordinated53 Transport 60.1% BB Senior secured54 Mining 6.5% BB Senior secured55 Oil 34.4% A Senior subordinated56 Chemical 16.1% BB Senior subordinated57 Oil 82.4% A Senior secured58 Chemical 73.4% BB Senior secured59 Transport 78.0% BB Senior secured60 Transport 19.7% A Senior secured61 Chemical 26.9% BBB Senior secured62 Mining 53.3% BBB Senior unsecured63 Chemical 99.5% A Senior secured64 Chemical 10.8% A Senior secured65 Oil 45.7% BB Senior secured66 Transport 73.9% BBB Senior unsecured67 Financial 25.0% BBB Senior unsecured68 Financial 87.0% BB Senior subordinated69 Oil 74.0% A Senior secured70 Chemical 44.3% BBB Senior subordinated71 Transport 4.3% BB Senior secured72 Transport 69.3% BBB Senior unsecured73 Oil 20.1% BBB Senior secured74 Financial 53.0% A Senior secured75 Mining 15.2% BBB Senior secured76 Chemical 38.2% BBB Senior unsecured77 Financial 31.4% BB Senior subordinated78 Chemical 48.6% A Senior secured79 Financial 51.2% BBB Senior secured80 Mining 78.6% BBB Senior secured81 Financial 90.0% A Senior unsecured82 Oil 26.3% BB Senior secured83 Chemical 41.1% BBB Senior unsecured84 Financial 86.9% A Senior unsecured85 Mining 24.6% BB Senior secured86 Transport 43.3% BBB Senior unsecured87 Oil 79.8% A Senior secured88 Oil 82.7% BB Senior unsecured89 Oil 4.1% BBB Senior unsecured90 Oil 7.0% A Senior secured91 Chemical 22.4% A Senior subordinated

92 Chemical 94.0% BB Senior secured93 Chemical 41.7% A Senior secured94 Financial 86.3% BB Senior unsecured95 Oil 94.2% BB Senior subordinated96 Mining 83.7% A Senior secured97 Chemical 32.2% BB Senior secured98 Chemical 31.3% BB Senior secured99 Transport 22.3% BB Senior unsecured

100 Mining 15.8% BB Senior unsecured

Time horizon 5Lamda 0%

ShiftedPrincipal Maturity Correlation PD LGD

3,220.00 with to maturity1.83% sector39.72 bp

30 6 2.6% 8.81% 48.9% 50 9 75.4% 0.52% 61.5% 50 5 87.2% 8.81% 48.9% 10 3 23.1% 4.50% 61.5% 30 9 8.2% 0.52% 48.9% 50 8 42.4% 8.81% 46.2% 50 10 44.3% 8.81% 46.2% 50 8 97.7% 1.84% 46.2% 50 6 53.1% 0.52% 46.2% 10 9 38.1% 0.52% 46.2% 30 8 17.9% 1.84% 61.5% 30 10 89.9% 8.81% 46.2% 10 10 34.2% 8.81% 48.9% 10 7 98.8% 0.52% 48.9% 30 7 66.4% 1.84% 48.9% 10 8 19.1% 8.81% 46.2% 30 8 30.0% 8.81% 46.2% 10 10 15.8% 0.52% 46.2% 10 6 66.2% 1.84% 48.9% 50 9 16.3% 8.81% 48.9% 10 9 21.1% 8.81% 46.2% 30 8 13.4% 1.84% 61.5% 10 3 77.6% 0.74% 46.2% 50 9 36.1% 1.84% 61.5% 10 6 7.8% 1.84% 61.5% 10 10 86.2% 8.81% 48.9% 10 4 21.5% 0.33% 48.9% 30 9 56.3% 0.52% 48.9% 30 7 74.1% 1.84% 48.9% 30 4 15.4% 0.33% 48.9% 30 8 49.0% 0.52% 46.2% 50 8 66.4% 0.52% 61.5% 30 8 52.1% 8.81% 46.2% 30 8 16.8% 1.84% 48.9% 50 4 72.0% 1.23% 48.9% 30 10 16.2% 1.84% 48.9% 10 7 34.5% 0.52% 61.5% 30 10 85.3% 8.81% 61.5% 50 9 11.6% 8.81% 48.9% 10 8 28.7% 1.84% 48.9% 50 6 29.3% 1.84% 46.2%

30 9 75.3% 0.52% 46.2% 30 8 28.8% 0.52% 46.2% 10 4 37.1% 6.58% 61.5% 30 8 61.0% 1.84% 48.9% 50 9 33.7% 0.52% 46.2% 10 5 48.6% 8.81% 61.5% 50 10 48.9% 8.81% 46.2% 50 4 21.9% 6.58% 46.2% 30 3 55.0% 4.50% 48.9% 30 5 94.3% 0.52% 48.9% 10 4 28.3% 1.23% 67.3% 10 6 60.1% 8.81% 46.2% 30 3 6.5% 4.50% 46.2% 50 4 34.4% 0.33% 61.5% 50 7 16.1% 8.81% 61.5% 50 5 82.4% 0.52% 46.2% 10 5 73.4% 8.81% 46.2% 50 5 78.0% 8.81% 46.2% 50 10 19.7% 0.52% 46.2% 50 9 26.9% 1.84% 46.2% 50 6 53.3% 1.84% 48.9% 30 5 99.5% 0.52% 46.2% 50 10 10.8% 0.52% 46.2% 30 6 45.7% 8.81% 46.2% 30 8 73.9% 1.84% 48.9% 50 5 25.0% 1.84% 48.9% 30 7 87.0% 8.81% 61.5% 50 5 74.0% 0.52% 46.2% 10 3 44.3% 0.74% 61.5% 30 5 4.3% 8.81% 46.2% 50 7 69.3% 1.84% 48.9% 50 6 20.1% 1.84% 46.2% 50 7 53.0% 0.52% 46.2% 30 6 15.2% 1.84% 46.2% 10 10 38.2% 1.84% 48.9% 50 9 31.4% 8.81% 61.5% 50 5 48.6% 0.52% 46.2% 30 4 51.2% 1.23% 46.2% 50 8 78.6% 1.84% 46.2% 50 7 90.0% 0.52% 48.9% 50 10 26.3% 8.81% 46.2% 50 4 41.1% 1.23% 48.9% 10 9 86.9% 0.52% 48.9% 10 4 24.6% 6.58% 46.2% 50 9 43.3% 1.84% 48.9% 30 3 79.8% 0.18% 46.2% 50 7 82.7% 8.81% 48.9% 10 10 4.1% 1.84% 48.9% 50 7 7.0% 0.52% 46.2% 30 5 22.4% 0.52% 61.5%

10 9 94.0% 8.81% 46.2% 50 9 41.7% 0.52% 46.2% 50 10 86.3% 8.81% 48.9% 10 5 94.2% 8.81% 61.5% 30 10 83.7% 0.52% 46.2% 10 4 32.2% 6.58% 46.2% 30 7 31.3% 8.81% 46.2% 30 10 22.3% 8.81% 48.9% 10 3 15.8% 4.50% 48.9%

6.34: Constructed Asset correlation matrix from sectoral factors

1 2Chemical Financial

3% 75%BB A

1 Chemical 3% BB 100% 1%2 Financial 75% A 1% 100%3 Oil 87% BB 1% 20%4 Financial 23% BB 0% 17%5 Transport 8% A 0% 2%6 Transport 42% BB 0% 13%7 Transport 44% BB 0% 13%8 Chemical 98% BBB 2% 22%9 Oil 53% A 1% 12%

10 Mining 38% A 0% 6%11 Transport 18% BBB 0% 5%12 Transport 90% BB 1% 27%13 Transport 34% BB 0% 10%14 Oil 99% A 2% 22%15 Oil 66% BBB 1% 15%16 Transport 19% BB 0% 6%17 Chemical 30% BB 1% 7%18 Financial 16% A 0% 12%19 Mining 66% BBB 1% 10%20 Mining 16% BB 0% 2%21 Chemical 21% BB 1% 5%22 Oil 13% BBB 0% 3%23 Chemical 78% BBB 2% 18%24 Financial 36% BBB 0% 27%25 Financial 8% BBB 0% 6%26 Oil 86% BB 1% 19%27 Chemical 22% A 1% 5%28 Chemical 56% A 1% 13%29 Oil 74% BBB 1% 17%30 Chemical 15% A 0% 3%31 Transport 49% A 0% 15%

32 Financial 66% A 1% 50%33 Chemical 52% BB 1% 12%34 Oil 17% BBB 0% 4%35 Chemical 72% BBB 2% 16%36 Chemical 16% BBB 0% 4%37 Oil 35% A 1% 8%38 Oil 85% BB 1% 19%39 Mining 12% BB 0% 2%40 Financial 29% BBB 0% 22%41 Transport 29% BBB 0% 9%42 Chemical 75% A 2% 17%43 Oil 29% A 0% 7%44 Chemical 37% BB 1% 8%45 Mining 61% BBB 1% 9%46 Mining 34% A 0% 5%47 Mining 49% BB 0% 7%48 Chemical 49% BB 1% 11%49 Transport 22% BB 0% 7%50 Transport 55% BB 0% 17%51 Chemical 94% A 2% 21%52 Transport 28% BBB 0% 9%53 Transport 60% BB 0% 18%54 Mining 6% BB 0% 1%55 Oil 34% A 1% 8%56 Chemical 16% BB 0% 4%57 Oil 82% A 1% 19%58 Chemical 73% BB 2% 17%59 Transport 78% BB 1% 24%60 Transport 20% A 0% 6%61 Chemical 27% BBB 1% 6%62 Mining 53% BBB 1% 8%63 Chemical 100% A 3% 22%64 Chemical 11% A 0% 2%65 Oil 46% BB 1% 10%66 Transport 74% BBB 1% 22%67 Financial 25% BBB 0% 19%68 Financial 87% BB 1% 66%69 Oil 74% A 1% 17%70 Chemical 44% BBB 1% 10%71 Transport 4% BB 0% 1%72 Transport 69% BBB 1% 21%

73 Oil 20% BBB 0% 5%74 Financial 53% A 0% 40%75 Mining 15% BBB 0% 2%76 Chemical 38% BBB 1% 9%77 Financial 31% BB 0% 24%78 Chemical 49% A 1% 11%79 Financial 51% BBB 0% 39%80 Mining 79% BBB 1% 12%81 Financial 90% A 1% 68%82 Oil 26% BB 0% 6%83 Chemical 41% BBB 1% 9%84 Financial 87% A 1% 65%85 Mining 25% BB 0% 4%86 Transport 43% BBB 0% 13%87 Oil 80% A 1% 18%88 Oil 83% BB 1% 19%89 Oil 4% BBB 0% 1%90 Oil 7% A 0% 2%91 Chemical 22% A 1% 5%92 Chemical 94% BB 2% 21%93 Chemical 42% A 1% 9%94 Financial 86% BB 1% 65%95 Oil 94% BB 1% 21%96 Mining 84% A 1% 13%97 Chemical 32% BB 1% 7%98 Chemical 31% BB 1% 7%99 Transport 22% BB 0% 7%

100 Mining 16% BB 0% 2%0%

1 2

1 1 02 0.006 1.0003 0.013 0.1974 0.002 0.1745 0.001 0.0256 0.003 0.1287 0.003 0.1338 0.025 0.2219 0.008 0.120

10 0.004 0.05711 0.001 0.054

12 0.007 0.27113 0.003 0.10314 0.015 0.22315 0.010 0.15016 0.001 0.05717 0.008 0.06818 0.001 0.11919 0.007 0.10020 0.002 0.02521 0.005 0.04822 0.002 0.03023 0.020 0.17524 0.003 0.27225 0.001 0.05926 0.013 0.19527 0.005 0.04928 0.014 0.12729 0.011 0.16830 0.004 0.03531 0.004 0.14832 0.005 0.50033 0.013 0.11834 0.003 0.03835 0.018 0.16336 0.004 0.03737 0.005 0.07838 0.013 0.19339 0.001 0.01740 0.002 0.21641 0.002 0.08842 0.019 0.17043 0.004 0.06544 0.009 0.08445 0.006 0.09246 0.003 0.05147 0.005 0.07348 0.012 0.11049 0.002 0.06650 0.004 0.16651 0.024 0.21352 0.002 0.085

53 0.005 0.18154 0.001 0.01055 0.005 0.07856 0.004 0.03657 0.013 0.18658 0.019 0.16659 0.006 0.23560 0.002 0.05961 0.007 0.06162 0.005 0.08063 0.025 0.22564 0.003 0.02465 0.007 0.10366 0.006 0.22367 0.002 0.18868 0.007 0.65569 0.011 0.16770 0.011 0.10071 0.000 0.01372 0.005 0.20973 0.003 0.04574 0.004 0.39975 0.002 0.02376 0.010 0.08677 0.002 0.23678 0.012 0.11079 0.004 0.38680 0.008 0.11881 0.007 0.67882 0.004 0.05983 0.010 0.09384 0.007 0.65585 0.003 0.03786 0.003 0.13087 0.012 0.18088 0.013 0.18789 0.001 0.00990 0.001 0.01691 0.006 0.05192 0.024 0.21293 0.011 0.094

94 0.007 0.65095 0.014 0.21396 0.009 0.12697 0.008 0.07398 0.008 0.07199 0.002 0.067

100 0.002 0.024

3 4 5 6 7 8Oil Financial Transport Transport Transport Chemical

87% 23% 8% 42% 44% 98%BB BB A BB BB BBB

1% 0% 0% 0% 0% 2%20% 17% 2% 13% 13% 22%

100% 6% 6% 30% 31% 51%6% 100% 1% 4% 4% 7%6% 1% 100% 3% 4% 2%

30% 4% 3% 100% 19% 12%31% 4% 4% 19% 100% 13%51% 7% 2% 12% 13% 100%46% 4% 3% 18% 19% 31%17% 2% 1% 6% 7% 15%13% 2% 1% 8% 8% 5%63% 8% 7% 38% 40% 26%24% 3% 3% 14% 15% 10%86% 7% 6% 33% 35% 58%58% 5% 4% 23% 24% 39%13% 2% 2% 8% 8% 6%16% 2% 1% 4% 4% 29%4% 4% 1% 3% 3% 5%

29% 3% 2% 11% 12% 26%7% 1% 1% 3% 3% 6%

11% 1% 1% 3% 3% 21%12% 1% 1% 5% 5% 8%41% 5% 2% 10% 10% 76%9% 8% 1% 6% 6% 11%2% 2% 0% 1% 1% 2%

75% 6% 6% 29% 31% 51%11% 1% 1% 3% 3% 21%29% 4% 1% 7% 7% 55%65% 5% 5% 25% 26% 43%8% 1% 0% 2% 2% 15%

34% 5% 4% 21% 22% 14%

17% 15% 2% 11% 12% 19%27% 4% 1% 7% 7% 51%15% 1% 1% 6% 6% 10%38% 5% 2% 9% 10% 70%8% 1% 0% 2% 2% 16%

30% 2% 2% 12% 12% 20%74% 6% 6% 29% 30% 50%5% 1% 0% 2% 2% 5%8% 7% 1% 5% 5% 8%

20% 3% 2% 12% 13% 9%39% 5% 2% 10% 10% 74%25% 2% 2% 10% 10% 17%19% 3% 1% 5% 5% 36%27% 3% 2% 10% 11% 24%15% 2% 1% 6% 6% 13%21% 2% 2% 8% 9% 19%26% 3% 1% 6% 6% 48%15% 2% 2% 9% 10% 6%38% 5% 4% 23% 24% 16%49% 7% 2% 12% 13% 92%20% 3% 2% 12% 13% 8%42% 6% 5% 25% 27% 18%3% 0% 0% 1% 1% 3%

30% 2% 2% 12% 12% 20%8% 1% 0% 2% 2% 16%

72% 6% 5% 28% 29% 48%38% 5% 2% 9% 10% 72%54% 7% 6% 33% 35% 23%14% 2% 2% 8% 9% 6%14% 2% 1% 3% 4% 26%23% 2% 2% 9% 9% 21%52% 7% 2% 13% 13% 97%6% 1% 0% 1% 1% 11%

40% 3% 3% 15% 16% 27%52% 7% 6% 31% 33% 22%7% 6% 1% 4% 4% 7%

23% 20% 3% 15% 15% 25%65% 5% 5% 25% 26% 43%23% 3% 1% 6% 6% 43%3% 0% 0% 2% 2% 1%

48% 6% 6% 29% 31% 20%

18% 1% 1% 7% 7% 12%14% 12% 2% 9% 9% 16%7% 1% 0% 3% 3% 6%

20% 3% 1% 5% 5% 37%8% 7% 1% 5% 6% 9%

25% 3% 1% 6% 6% 47%13% 12% 2% 9% 9% 15%34% 4% 3% 13% 14% 31%24% 21% 3% 15% 16% 26%23% 2% 2% 9% 9% 15%22% 3% 1% 5% 5% 40%23% 20% 3% 15% 15% 25%11% 1% 1% 4% 4% 10%30% 4% 4% 18% 19% 13%70% 6% 5% 27% 28% 47%72% 6% 5% 28% 29% 48%4% 0% 0% 1% 1% 2%6% 0% 0% 2% 2% 4%

12% 2% 1% 3% 3% 22%49% 7% 2% 12% 12% 92%22% 3% 1% 5% 6% 41%23% 20% 3% 15% 15% 25%82% 7% 6% 32% 33% 55%37% 4% 3% 14% 15% 33%17% 2% 1% 4% 4% 31%16% 2% 1% 4% 4% 31%16% 2% 2% 9% 10% 7%7% 1% 1% 3% 3% 6%

3 4 5 6 7 8

0 0 0 0 0 00 0 0 0 0 0

0.980 0 0 0 0 00.027 0.984 0 0 0 00.053 0.002 0.998 0 0 00.276 0.010 0.017 0.952 0 00.288 0.010 0.018 0.095 0.943 00.477 0.017 -0.007 -0.037 -0.036 0.8490.448 0.004 0.008 0.043 0.041 0.0870.158 0.003 0.003 0.014 0.014 0.0730.117 0.004 0.007 0.039 0.037 -0.015

0.586 0.021 0.036 0.193 0.184 -0.0730.223 0.008 0.014 0.073 0.070 -0.0280.834 0.007 0.015 0.080 0.076 0.1620.561 0.005 0.010 0.054 0.051 0.1090.124 0.004 0.008 0.041 0.039 -0.0150.147 0.005 -0.002 -0.012 -0.011 0.2440.018 0.016 0.001 0.007 0.006 0.0140.274 0.006 0.005 0.025 0.024 0.1260.067 0.001 0.001 0.006 0.006 0.0310.103 0.004 -0.001 -0.008 -0.008 0.1720.113 0.001 0.002 0.011 0.010 0.0220.379 0.013 -0.006 -0.030 -0.028 0.6310.042 0.035 0.003 0.015 0.015 0.0310.009 0.008 0.001 0.003 0.003 0.0070.728 0.007 0.013 0.070 0.066 0.1410.105 0.004 -0.002 -0.008 -0.008 0.1750.275 0.010 -0.004 -0.022 -0.021 0.4580.626 0.006 0.011 0.060 0.057 0.1210.075 0.003 -0.001 -0.006 -0.006 0.1260.319 0.011 0.019 0.105 0.101 -0.0400.077 0.065 0.005 0.028 0.027 0.0570.254 0.009 -0.004 -0.020 -0.019 0.4240.142 0.001 0.003 0.014 0.013 0.0280.351 0.012 -0.005 -0.028 -0.026 0.5860.079 0.003 -0.001 -0.006 -0.006 0.1310.292 0.003 0.005 0.028 0.027 0.0570.720 0.006 0.013 0.069 0.066 0.1400.048 0.001 0.001 0.004 0.004 0.0220.033 0.028 0.002 0.012 0.012 0.0250.191 0.007 0.012 0.063 0.060 -0.0240.368 0.013 -0.005 -0.029 -0.028 0.6130.243 0.002 0.004 0.023 0.022 0.0470.181 0.006 -0.003 -0.014 -0.014 0.3020.253 0.006 0.004 0.023 0.022 0.1170.140 0.003 0.002 0.013 0.012 0.0640.202 0.004 0.003 0.018 0.017 0.0930.239 0.008 -0.003 -0.019 -0.018 0.3980.143 0.005 0.009 0.047 0.045 -0.0180.358 0.013 0.022 0.118 0.113 -0.0450.460 0.016 -0.007 -0.036 -0.035 0.7670.184 0.006 0.011 0.061 0.058 -0.023

0.391 0.014 0.024 0.129 0.123 -0.0490.027 0.001 0.000 0.002 0.002 0.0120.291 0.003 0.005 0.028 0.026 0.0560.079 0.003 -0.001 -0.006 -0.006 0.1310.695 0.006 0.012 0.066 0.063 0.1350.358 0.013 -0.005 -0.028 -0.027 0.5970.508 0.018 0.031 0.168 0.160 -0.0630.128 0.005 0.008 0.042 0.040 -0.0160.131 0.005 -0.002 -0.010 -0.010 0.2180.221 0.005 0.004 0.020 0.019 0.1020.486 0.017 -0.007 -0.038 -0.036 0.8100.053 0.002 -0.001 -0.004 -0.004 0.0880.386 0.003 0.007 0.037 0.035 0.0750.481 0.017 0.029 0.159 0.152 -0.0600.029 0.025 0.002 0.011 0.010 0.0210.100 0.085 0.007 0.037 0.035 0.0750.624 0.006 0.011 0.060 0.057 0.1210.216 0.008 -0.003 -0.017 -0.016 0.3610.028 0.001 0.002 0.009 0.009 -0.0030.451 0.016 0.028 0.149 0.142 -0.0560.170 0.002 0.003 0.016 0.015 0.0330.061 0.052 0.004 0.022 0.021 0.0460.063 0.001 0.001 0.006 0.005 0.0290.186 0.007 -0.003 -0.015 -0.014 0.3110.036 0.031 0.002 0.013 0.013 0.0270.237 0.008 -0.003 -0.019 -0.018 0.3950.059 0.050 0.004 0.022 0.021 0.0440.326 0.007 0.005 0.029 0.028 0.1500.104 0.088 0.007 0.038 0.036 0.0770.222 0.002 0.004 0.021 0.020 0.0430.201 0.007 -0.003 -0.016 -0.015 0.3340.100 0.085 0.007 0.037 0.035 0.0750.102 0.002 0.002 0.009 0.009 0.0470.282 0.010 0.017 0.093 0.089 -0.0350.674 0.006 0.012 0.064 0.061 0.1310.698 0.006 0.012 0.067 0.064 0.1350.034 0.000 0.001 0.003 0.003 0.0070.059 0.001 0.001 0.006 0.005 0.0110.109 0.004 -0.002 -0.009 -0.008 0.1820.459 0.016 -0.007 -0.036 -0.034 0.7650.203 0.007 -0.003 -0.016 -0.015 0.339

0.099 0.085 0.007 0.037 0.035 0.0740.795 0.007 0.014 0.076 0.073 0.1540.347 0.008 0.006 0.031 0.030 0.1600.157 0.006 -0.002 -0.012 -0.012 0.2620.153 0.005 -0.002 -0.012 -0.011 0.2550.145 0.005 0.009 0.048 0.046 -0.0180.065 0.001 0.001 0.006 0.006 0.030

9 10 11 12 13 14Oil Mining Transport Transport Transport Oil

53% 38% 18% 90% 34% 99%A A BBB BB BB A

1% 0% 0% 1% 0% 2%12% 6% 5% 27% 10% 22%46% 17% 13% 63% 24% 86%4% 2% 2% 8% 3% 7%3% 1% 1% 7% 3% 6%

18% 6% 8% 38% 14% 33%19% 7% 8% 40% 15% 35%31% 15% 5% 26% 10% 58%

100% 10% 8% 38% 15% 52%10% 100% 3% 14% 5% 19%8% 3% 100% 16% 6% 14%

38% 14% 16% 100% 31% 71%15% 5% 6% 31% 100% 27%52% 19% 14% 71% 27% 100%35% 13% 10% 48% 18% 66%8% 3% 3% 17% 7% 15%

10% 5% 2% 8% 3% 18%3% 1% 1% 6% 2% 5%

18% 25% 5% 24% 9% 33%4% 6% 1% 6% 2% 8%7% 3% 1% 6% 2% 13%7% 3% 2% 10% 4% 13%

25% 12% 4% 21% 8% 46%6% 3% 3% 13% 5% 11%1% 1% 1% 3% 1% 2%

46% 16% 12% 62% 24% 85%7% 3% 1% 6% 2% 13%

18% 9% 3% 15% 6% 33%39% 14% 11% 53% 20% 73%5% 2% 1% 4% 2% 9%

21% 7% 9% 44% 17% 39%

11% 5% 5% 24% 9% 20%17% 8% 3% 14% 5% 31%9% 3% 2% 12% 5% 17%

23% 11% 4% 19% 7% 43%5% 2% 1% 4% 2% 10%

18% 7% 5% 25% 9% 34%45% 16% 12% 61% 23% 84%3% 4% 1% 4% 2% 6%5% 2% 2% 10% 4% 8%

12% 4% 5% 26% 10% 23%24% 11% 4% 20% 8% 45%15% 5% 4% 21% 8% 28%12% 6% 2% 10% 4% 22%16% 23% 4% 22% 8% 30%9% 13% 2% 12% 5% 17%

13% 19% 3% 17% 7% 24%16% 7% 3% 13% 5% 29%9% 3% 4% 20% 7% 17%

23% 8% 10% 49% 19% 43%30% 14% 5% 25% 10% 56%12% 4% 5% 25% 10% 22%26% 9% 11% 54% 21% 48%2% 2% 0% 2% 1% 3%

18% 7% 5% 25% 9% 34%5% 2% 1% 4% 2% 10%

44% 16% 12% 59% 23% 81%23% 11% 4% 20% 8% 43%33% 12% 14% 70% 27% 62%8% 3% 4% 18% 7% 16%9% 4% 1% 7% 3% 16%

14% 20% 4% 19% 7% 26%32% 15% 5% 27% 10% 59%3% 2% 1% 3% 1% 6%

24% 9% 7% 33% 12% 45%31% 11% 13% 66% 25% 58%4% 2% 2% 9% 3% 7%

14% 7% 6% 31% 12% 26%39% 14% 11% 53% 20% 73%14% 7% 2% 12% 5% 26%2% 1% 1% 4% 1% 3%

29% 11% 12% 62% 24% 55%

11% 4% 3% 14% 5% 20%8% 4% 4% 19% 7% 16%4% 6% 1% 5% 2% 8%

12% 6% 2% 10% 4% 23%5% 2% 2% 11% 4% 9%

15% 7% 3% 13% 5% 29%8% 4% 4% 18% 7% 15%

21% 30% 6% 28% 11% 39%14% 7% 6% 32% 12% 27%14% 5% 4% 19% 7% 26%13% 6% 2% 11% 4% 24%14% 7% 6% 31% 12% 26%7% 9% 2% 9% 3% 12%

18% 7% 8% 39% 15% 34%42% 15% 11% 57% 22% 79%44% 16% 12% 59% 23% 82%2% 1% 1% 3% 1% 4%4% 1% 1% 5% 2% 7%7% 3% 1% 6% 2% 13%

30% 14% 5% 25% 10% 56%13% 6% 2% 11% 4% 25%14% 7% 6% 31% 12% 26%50% 18% 14% 68% 26% 93%22% 32% 6% 30% 11% 41%10% 5% 2% 9% 3% 19%10% 5% 2% 8% 3% 19%9% 3% 4% 20% 8% 18%4% 6% 1% 6% 2% 8%

9 10 11 12 13 14

0 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 0

0.880 0 0 0 0 00.018 0.983 0 0 0 00.017 0.006 0.990 0 0 0

0.088 0.028 0.062 0.702 0 00.033 0.011 0.023 0.163 0.949 00.117 0.028 0.027 0.186 0.020 0.4070.079 0.019 0.018 0.125 0.014 0.2340.019 0.006 0.013 0.091 0.010 0.0260.002 0.001 0.000 -0.002 0.000 0.0070.001 0.001 0.002 0.017 0.002 -0.0040.031 0.196 0.008 0.059 0.006 0.0760.008 0.048 0.002 0.015 0.002 0.0190.001 0.001 0.000 -0.001 0.000 0.0050.016 0.004 0.004 0.025 0.003 0.0470.004 0.003 -0.001 -0.005 -0.001 0.0180.002 0.003 0.005 0.038 0.004 -0.0100.001 0.001 0.001 0.008 0.001 -0.0020.102 0.024 0.023 0.163 0.018 0.3040.001 0.001 0.000 -0.001 0.000 0.0050.003 0.002 -0.001 -0.004 0.000 0.0130.088 0.021 0.020 0.140 0.015 0.2610.001 0.001 0.000 -0.001 0.000 0.0040.048 0.015 0.034 0.234 0.026 0.0670.004 0.005 0.010 0.070 0.008 -0.0180.003 0.002 0.000 -0.003 0.000 0.0120.020 0.005 0.005 0.032 0.003 0.0590.004 0.003 -0.001 -0.005 -0.001 0.0170.001 0.001 0.000 -0.001 0.000 0.0040.041 0.010 0.009 0.065 0.007 0.1220.101 0.024 0.023 0.161 0.018 0.3000.005 0.034 0.001 0.010 0.001 0.0130.002 0.002 0.004 0.030 0.003 -0.0080.029 0.009 0.020 0.140 0.015 0.0400.004 0.003 -0.001 -0.005 -0.001 0.0180.034 0.008 0.008 0.054 0.006 0.1010.002 0.001 0.000 -0.002 0.000 0.0090.029 0.181 0.008 0.054 0.006 0.0700.016 0.100 0.004 0.030 0.003 0.0390.023 0.144 0.006 0.043 0.005 0.0560.003 0.002 0.000 -0.003 0.000 0.0110.021 0.007 0.015 0.105 0.011 0.0300.054 0.017 0.038 0.263 0.029 0.0750.005 0.004 -0.001 -0.006 -0.001 0.0220.028 0.009 0.019 0.135 0.015 0.039

0.059 0.019 0.041 0.287 0.031 0.0820.003 0.019 0.001 0.006 0.001 0.0070.041 0.010 0.009 0.065 0.007 0.1210.001 0.001 0.000 -0.001 0.000 0.0040.098 0.023 0.022 0.155 0.017 0.2900.004 0.003 -0.001 -0.005 -0.001 0.0170.076 0.024 0.053 0.373 0.041 0.1060.019 0.006 0.013 0.094 0.010 0.0270.001 0.001 0.000 -0.002 0.000 0.0060.025 0.158 0.007 0.048 0.005 0.0610.005 0.004 -0.001 -0.006 -0.001 0.0230.001 0.000 0.000 -0.001 0.000 0.0030.054 0.013 0.012 0.086 0.009 0.1610.072 0.023 0.051 0.353 0.039 0.1010.002 0.002 0.004 0.027 0.003 -0.0070.006 0.006 0.013 0.092 0.010 -0.0230.088 0.021 0.020 0.139 0.015 0.2610.002 0.002 0.000 -0.003 0.000 0.0100.004 0.001 0.003 0.020 0.002 0.0060.068 0.021 0.047 0.331 0.036 0.0940.024 0.006 0.005 0.038 0.004 0.0710.003 0.004 0.008 0.056 0.006 -0.0140.007 0.045 0.002 0.014 0.001 0.0180.002 0.002 0.000 -0.002 0.000 0.0090.002 0.002 0.005 0.033 0.004 -0.0080.003 0.002 0.000 -0.003 0.000 0.0110.003 0.004 0.008 0.054 0.006 -0.0140.037 0.233 0.010 0.070 0.008 0.0900.006 0.006 0.014 0.095 0.010 -0.0240.031 0.007 0.007 0.050 0.005 0.0930.002 0.002 0.000 -0.003 0.000 0.0100.006 0.006 0.013 0.092 0.010 -0.0230.012 0.073 0.003 0.022 0.002 0.0280.042 0.013 0.030 0.207 0.023 0.0590.095 0.023 0.022 0.150 0.016 0.2810.098 0.023 0.022 0.156 0.017 0.2910.005 0.001 0.001 0.008 0.001 0.0140.008 0.002 0.002 0.013 0.001 0.0250.001 0.001 0.000 -0.001 0.000 0.0050.005 0.004 -0.001 -0.006 -0.001 0.0220.002 0.002 0.000 -0.003 0.000 0.010

0.006 0.006 0.013 0.092 0.010 -0.0230.112 0.027 0.025 0.178 0.019 0.3320.040 0.248 0.011 0.075 0.008 0.0960.002 0.001 0.000 -0.002 0.000 0.0070.002 0.001 0.000 -0.002 0.000 0.0070.022 0.007 0.015 0.107 0.012 0.0300.007 0.047 0.002 0.014 0.002 0.018

15 16 17 18 19Oil Transport Chemical Financial Mining

66% 19% 30% 16% 66%BBB BB BB A BBB

1% 0% 1% 0% 1%15% 6% 7% 12% 10%58% 13% 16% 4% 29%5% 2% 2% 4% 3%4% 2% 1% 1% 2%

23% 8% 4% 3% 11%24% 8% 4% 3% 12%39% 6% 29% 5% 26%35% 8% 10% 3% 18%13% 3% 5% 1% 25%10% 3% 2% 1% 5%48% 17% 8% 6% 24%18% 7% 3% 2% 9%66% 15% 18% 5% 33%

100% 10% 12% 3% 22%10% 100% 2% 1% 5%12% 2% 100% 1% 8%3% 1% 1% 100% 2%

22% 5% 8% 2% 100%5% 1% 2% 1% 11%8% 1% 6% 1% 6%9% 2% 2% 1% 4%

31% 4% 23% 4% 21%7% 3% 3% 6% 5%2% 1% 1% 1% 1%

57% 13% 16% 4% 29%9% 1% 6% 1% 6%

22% 3% 17% 3% 15%49% 11% 13% 4% 25%6% 1% 5% 1% 4%

26% 9% 4% 3% 13%

13% 5% 6% 11% 9%21% 3% 16% 2% 14%11% 3% 3% 1% 6%29% 4% 22% 3% 19%6% 1% 5% 1% 4%

23% 5% 6% 2% 11%57% 13% 15% 4% 28%4% 1% 1% 0% 8%6% 2% 3% 5% 4%

16% 6% 3% 2% 8%30% 4% 23% 4% 20%19% 4% 5% 1% 10%15% 2% 11% 2% 10%20% 5% 7% 2% 40%11% 3% 4% 1% 22%16% 4% 6% 2% 32%19% 3% 15% 2% 13%12% 4% 2% 1% 6%29% 10% 5% 3% 15%38% 5% 28% 4% 25%15% 5% 3% 2% 7%32% 11% 5% 4% 16%2% 0% 1% 0% 4%

23% 5% 6% 2% 11%6% 1% 5% 1% 4%

55% 13% 15% 4% 27%29% 4% 22% 3% 19%41% 15% 7% 5% 21%10% 4% 2% 1% 5%11% 2% 8% 1% 7%18% 4% 6% 2% 35%40% 6% 30% 5% 26%4% 1% 3% 1% 3%

30% 7% 8% 2% 15%39% 14% 7% 5% 20%5% 2% 2% 4% 3%

17% 7% 8% 14% 12%49% 11% 13% 4% 24%18% 3% 13% 2% 12%2% 1% 0% 0% 1%

37% 13% 6% 4% 18%

13% 3% 4% 1% 7%11% 4% 5% 8% 7%5% 1% 2% 0% 10%

15% 2% 11% 2% 10%6% 2% 3% 5% 4%

19% 3% 15% 2% 13%10% 4% 5% 8% 7%26% 6% 9% 2% 52%18% 7% 8% 14% 12%17% 4% 5% 1% 9%16% 2% 12% 2% 11%17% 7% 8% 14% 12%8% 2% 3% 1% 16%

23% 8% 4% 3% 11%53% 12% 14% 4% 26%55% 13% 15% 4% 27%3% 1% 1% 0% 1%5% 1% 1% 0% 2%9% 1% 7% 1% 6%

37% 5% 28% 4% 25%17% 2% 13% 2% 11%17% 7% 8% 14% 11%63% 14% 17% 4% 31%28% 6% 10% 3% 55%13% 2% 10% 2% 9%12% 2% 9% 1% 8%12% 4% 2% 1% 6%5% 1% 2% 0% 10%

15 16 17 18 19

0 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 0

0 0 0 0 00 0 0 0 00 0 0 0 0

0.754 0 0 0 00.001 0.984 0 0 00.000 0.000 0.956 0 00.000 0.001 0.000 0.992 00.004 0.001 0.001 0.001 0.9210.001 0.000 0.000 0.000 0.0770.000 0.000 0.003 0.000 0.0010.002 0.000 0.000 0.000 0.0010.001 -0.001 0.011 0.001 0.0040.000 0.002 0.001 0.022 0.0020.000 0.001 0.000 0.005 0.0010.016 0.001 0.000 0.000 0.0040.000 0.000 0.003 0.000 0.0010.001 -0.001 0.008 0.001 0.0030.014 0.001 0.000 0.000 0.0040.000 0.000 0.002 0.000 0.0010.003 0.012 -0.001 0.003 0.004

-0.001 0.005 0.001 0.041 0.0040.001 -0.001 0.007 0.000 0.0030.003 0.000 0.000 0.000 0.0010.001 -0.001 0.010 0.001 0.0040.000 0.000 0.002 0.000 0.0010.006 0.001 0.000 0.000 0.0020.016 0.001 0.000 0.000 0.0040.001 0.000 0.000 0.000 0.0540.000 0.002 0.001 0.018 0.0020.002 0.007 0.000 0.002 0.0020.001 -0.001 0.010 0.001 0.0040.005 0.000 0.000 0.000 0.0010.000 0.000 0.005 0.000 0.0020.004 0.001 0.001 0.001 0.2870.002 0.001 0.001 0.000 0.1590.003 0.001 0.001 0.001 0.2290.001 0.000 0.007 0.000 0.0020.002 0.005 0.000 0.001 0.0020.004 0.013 -0.001 0.003 0.0040.001 -0.001 0.013 0.001 0.0050.002 0.007 0.000 0.002 0.002

0.004 0.014 -0.001 0.003 0.0050.000 0.000 0.000 0.000 0.0300.006 0.001 0.000 0.000 0.0020.000 0.000 0.002 0.000 0.0010.015 0.001 0.000 0.000 0.0040.001 -0.001 0.010 0.001 0.0040.006 0.019 -0.001 0.004 0.0060.001 0.005 0.000 0.001 0.0020.000 0.000 0.004 0.000 0.0010.003 0.001 0.001 0.001 0.2510.001 -0.001 0.014 0.001 0.0050.000 0.000 0.001 0.000 0.0010.008 0.001 0.000 0.000 0.0020.005 0.018 -0.001 0.004 0.0060.000 0.002 0.000 0.015 0.002

-0.001 0.006 0.002 0.053 0.0060.014 0.001 0.000 0.000 0.0040.001 0.000 0.006 0.000 0.0020.000 0.001 0.000 0.000 0.0000.005 0.017 -0.001 0.004 0.0050.004 0.000 0.000 0.000 0.001

-0.001 0.004 0.001 0.033 0.0030.001 0.000 0.000 0.000 0.0720.000 0.000 0.005 0.000 0.0020.000 0.002 0.001 0.019 0.0020.001 0.000 0.007 0.000 0.002

-0.001 0.003 0.001 0.031 0.0030.005 0.002 0.002 0.001 0.370

-0.001 0.006 0.002 0.055 0.0060.005 0.000 0.000 0.000 0.0010.000 0.000 0.006 0.000 0.002

-0.001 0.006 0.002 0.053 0.0060.001 0.001 0.001 0.000 0.1160.003 0.010 -0.001 0.002 0.0030.015 0.001 0.000 0.000 0.0040.015 0.001 0.000 0.000 0.0040.001 0.000 0.000 0.000 0.0000.001 0.000 0.000 0.000 0.0000.000 0.000 0.003 0.000 0.0010.001 -0.001 0.013 0.001 0.0050.001 0.000 0.006 0.000 0.002

-0.001 0.006 0.002 0.053 0.0060.017 0.001 0.000 0.000 0.0050.005 0.002 0.002 0.001 0.3940.000 0.000 0.004 0.000 0.0020.000 0.000 0.004 0.000 0.0020.002 0.005 0.000 0.001 0.0020.001 0.000 0.000 0.000 0.074

20 21 22 23 24 25Mining Chemical Oil Chemical Financial Financial

16% 21% 13% 78% 36% 8%BB BB BBB BBB BBB BBB

0% 1% 0% 2% 0% 0%2% 5% 3% 18% 27% 6%7% 11% 12% 41% 9% 2%1% 1% 1% 5% 8% 2%1% 1% 1% 2% 1% 0%3% 3% 5% 10% 6% 1%3% 3% 5% 10% 6% 1%6% 21% 8% 76% 11% 2%4% 7% 7% 25% 6% 1%6% 3% 3% 12% 3% 1%1% 1% 2% 4% 3% 1%6% 6% 10% 21% 13% 3%2% 2% 4% 8% 5% 1%8% 13% 13% 46% 11% 2%5% 8% 9% 31% 7% 2%1% 1% 2% 4% 3% 1%2% 6% 2% 23% 3% 1%1% 1% 1% 4% 6% 1%

11% 6% 4% 21% 5% 1%100% 1% 1% 5% 1% 0%

1% 100% 2% 16% 2% 0%1% 2% 100% 6% 1% 0%5% 16% 6% 100% 8% 2%1% 2% 1% 8% 100% 3%0% 0% 0% 2% 3% 100%7% 11% 12% 40% 9% 2%1% 5% 2% 17% 2% 1%4% 12% 5% 44% 6% 1%6% 9% 10% 34% 8% 2%1% 3% 1% 12% 2% 0%3% 3% 5% 11% 7% 2%

2% 4% 3% 15% 24% 5%3% 11% 4% 40% 6% 1%1% 2% 2% 8% 2% 0%5% 15% 6% 56% 8% 2%1% 3% 1% 13% 2% 0%3% 4% 5% 16% 4% 1%7% 11% 11% 40% 9% 2%2% 1% 1% 4% 1% 0%1% 2% 1% 7% 10% 2%2% 2% 3% 7% 4% 1%5% 16% 6% 58% 8% 2%2% 4% 4% 13% 3% 1%2% 8% 3% 29% 4% 1%

10% 5% 4% 19% 4% 1%5% 3% 2% 10% 2% 1%8% 4% 3% 15% 4% 1%3% 10% 4% 38% 5% 1%1% 1% 2% 5% 3% 1%4% 3% 6% 13% 8% 2%6% 20% 8% 73% 10% 2%2% 2% 3% 7% 4% 1%4% 4% 6% 14% 9% 2%1% 1% 0% 2% 0% 0%3% 4% 5% 16% 4% 1%1% 3% 1% 13% 2% 0%7% 10% 11% 38% 9% 2%5% 15% 6% 57% 8% 2%5% 5% 8% 18% 11% 2%1% 1% 2% 5% 3% 1%2% 6% 2% 21% 3% 1%9% 5% 4% 17% 4% 1%6% 21% 8% 77% 11% 2%1% 2% 1% 8% 1% 0%4% 6% 6% 21% 5% 1%5% 5% 8% 17% 11% 2%1% 2% 1% 6% 9% 2%3% 6% 3% 20% 31% 7%6% 9% 10% 34% 8% 2%3% 9% 4% 34% 5% 1%0% 0% 0% 1% 1% 0%5% 4% 7% 16% 10% 2%

2% 3% 3% 9% 2% 0%2% 3% 2% 12% 19% 4%2% 1% 1% 5% 1% 0%2% 8% 3% 30% 4% 1%1% 2% 1% 7% 11% 2%3% 10% 4% 38% 5% 1%2% 3% 2% 12% 18% 4%

13% 7% 5% 24% 6% 1%3% 6% 4% 21% 33% 7%2% 3% 4% 12% 3% 1%3% 9% 3% 32% 4% 1%3% 5% 3% 20% 31% 7%4% 2% 2% 8% 2% 0%3% 3% 5% 10% 6% 1%6% 10% 11% 37% 9% 2%7% 10% 11% 38% 9% 2%0% 1% 1% 2% 0% 0%1% 1% 1% 3% 1% 0%1% 5% 2% 17% 2% 1%6% 20% 8% 73% 10% 2%3% 9% 3% 32% 5% 1%3% 5% 3% 20% 31% 7%8% 12% 13% 44% 10% 2%

14% 7% 6% 26% 6% 1%2% 7% 3% 25% 3% 1%2% 7% 3% 24% 3% 1%1% 1% 2% 5% 3% 1%3% 1% 1% 5% 1% 0%

20 21 22 23 24 25

0 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 0

0 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 0

0.992 0 0 0 0 00.000 0.978 0 0 0 00.000 0.000 0.991 0 0 00.001 0.007 0.000 0.652 0 00.000 0.000 0.000 0.003 0.959 00.000 0.000 0.000 0.001 0.011 0.9980.001 0.000 0.002 0.001 -0.001 0.0000.000 0.002 0.000 0.011 0.000 0.0000.000 0.005 0.000 0.029 0.001 0.0000.001 0.000 0.002 0.001 0.000 0.0000.000 0.001 0.000 0.008 0.000 0.0000.001 -0.001 0.001 -0.003 0.006 0.0010.001 0.001 0.000 0.005 0.096 0.0190.000 0.005 0.000 0.027 0.001 0.0000.000 0.000 0.000 0.000 0.000 0.0000.001 0.007 0.000 0.038 0.001 0.0000.000 0.002 0.000 0.008 0.000 0.0000.000 0.000 0.001 0.001 0.000 0.0000.001 0.000 0.002 0.001 -0.001 0.0000.008 0.000 0.000 0.001 0.000 0.0000.000 0.000 0.000 0.002 0.041 0.0080.000 0.000 0.000 -0.002 0.004 0.0010.001 0.007 0.000 0.039 0.002 0.0000.000 0.000 0.001 0.000 0.000 0.0000.000 0.004 0.000 0.019 0.001 0.0000.043 0.001 0.000 0.003 0.001 0.0000.024 0.000 0.000 0.002 0.001 0.0000.035 0.000 0.000 0.003 0.001 0.0000.000 0.005 0.000 0.026 0.001 0.0000.000 0.000 0.000 -0.001 0.003 0.0010.001 -0.001 0.001 -0.003 0.007 0.0010.001 0.009 0.000 0.049 0.002 0.0000.000 0.000 0.000 -0.002 0.004 0.001

0.001 -0.001 0.001 -0.004 0.008 0.0020.005 0.000 0.000 0.000 0.000 0.0000.000 0.000 0.001 0.001 0.000 0.0000.000 0.002 0.000 0.008 0.000 0.0000.001 0.000 0.002 0.001 0.000 0.0000.001 0.007 0.000 0.038 0.002 0.0000.001 -0.001 0.001 -0.005 0.010 0.0020.000 0.000 0.000 -0.001 0.003 0.0010.000 0.003 0.000 0.014 0.001 0.0000.038 0.001 0.000 0.003 0.001 0.0000.001 0.009 0.000 0.052 0.002 0.0000.000 0.001 0.000 0.006 0.000 0.0000.000 0.000 0.001 0.001 0.000 0.0000.001 -0.001 0.001 -0.004 0.010 0.0020.000 0.000 0.000 0.002 0.036 0.0070.001 0.001 0.000 0.006 0.125 0.0250.001 0.000 0.002 0.001 0.000 0.0000.000 0.004 0.000 0.023 0.001 0.0000.000 0.000 0.000 0.000 0.001 0.0000.001 -0.001 0.001 -0.004 0.009 0.0020.000 0.000 0.001 0.000 0.000 0.0000.001 0.001 0.000 0.004 0.076 0.0150.011 0.000 0.000 0.001 0.000 0.0000.000 0.004 0.000 0.020 0.001 0.0000.000 0.000 0.000 0.002 0.045 0.0090.000 0.005 0.000 0.025 0.001 0.0000.000 0.001 0.000 0.004 0.074 0.0140.056 0.001 0.000 0.004 0.002 0.0000.001 0.001 0.000 0.006 0.129 0.0250.000 0.000 0.001 0.000 0.000 0.0000.000 0.004 0.000 0.022 0.001 0.0000.001 0.001 0.000 0.006 0.125 0.0250.017 0.000 0.000 0.001 0.001 0.0000.001 0.000 0.000 -0.003 0.006 0.0010.001 0.000 0.002 0.001 0.000 0.0000.001 0.000 0.002 0.001 0.000 0.0000.000 0.000 0.000 0.000 0.000 0.0000.000 0.000 0.000 0.000 0.000 0.0000.000 0.002 0.000 0.012 0.000 0.0000.001 0.009 0.000 0.049 0.002 0.0000.000 0.004 0.000 0.022 0.001 0.000

0.001 0.001 0.000 0.006 0.124 0.0240.001 0.000 0.003 0.001 -0.001 0.0000.060 0.001 0.000 0.005 0.002 0.0000.000 0.003 0.000 0.017 0.001 0.0000.000 0.003 0.000 0.016 0.001 0.0000.000 0.000 0.000 -0.001 0.003 0.0010.011 0.000 0.000 0.001 0.000 0.000

26 27 28 29 30 31Oil Chemical Chemical Oil Chemical Transport

86% 22% 56% 74% 15% 49%BB A A BBB A A

1% 1% 1% 1% 0% 0%19% 5% 13% 17% 3% 15%75% 11% 29% 65% 8% 34%6% 1% 4% 5% 1% 5%6% 1% 1% 5% 0% 4%

29% 3% 7% 25% 2% 21%31% 3% 7% 26% 2% 22%51% 21% 55% 43% 15% 14%46% 7% 18% 39% 5% 21%16% 3% 9% 14% 2% 7%12% 1% 3% 11% 1% 9%62% 6% 15% 53% 4% 44%24% 2% 6% 20% 2% 17%85% 13% 33% 73% 9% 39%57% 9% 22% 49% 6% 26%13% 1% 3% 11% 1% 9%16% 6% 17% 13% 5% 4%4% 1% 3% 4% 1% 3%

29% 6% 15% 25% 4% 13%7% 1% 4% 6% 1% 3%

11% 5% 12% 9% 3% 3%12% 2% 5% 10% 1% 5%40% 17% 44% 34% 12% 11%9% 2% 6% 8% 2% 7%2% 1% 1% 2% 0% 2%

100% 11% 29% 64% 8% 34%11% 100% 12% 10% 3% 3%29% 12% 100% 25% 9% 8%64% 10% 25% 100% 7% 29%8% 3% 9% 7% 100% 2%

34% 3% 8% 29% 2% 100%

17% 4% 11% 15% 3% 13%27% 11% 29% 23% 8% 8%14% 2% 6% 12% 2% 7%37% 16% 41% 32% 11% 11%8% 3% 9% 7% 2% 2%

30% 4% 12% 26% 3% 14%74% 11% 29% 63% 8% 33%5% 1% 3% 4% 1% 2%7% 2% 5% 6% 1% 6%

20% 2% 5% 17% 1% 14%39% 16% 42% 33% 12% 11%25% 4% 10% 21% 3% 11%19% 8% 21% 17% 6% 5%26% 5% 14% 23% 4% 12%15% 3% 8% 12% 2% 7%21% 4% 11% 18% 3% 10%25% 11% 28% 22% 8% 7%15% 1% 4% 13% 1% 11%38% 4% 9% 33% 3% 27%49% 20% 53% 42% 15% 14%20% 2% 5% 17% 1% 14%41% 4% 10% 36% 3% 29%3% 1% 1% 2% 0% 1%

30% 4% 12% 26% 3% 13%8% 3% 9% 7% 2% 2%

71% 11% 28% 61% 8% 32%38% 16% 41% 33% 11% 11%54% 5% 13% 46% 4% 38%14% 1% 3% 12% 1% 10%14% 6% 15% 12% 4% 4%23% 5% 12% 20% 3% 10%51% 21% 56% 44% 15% 15%6% 2% 6% 5% 2% 2%

39% 6% 15% 34% 4% 18%51% 5% 12% 44% 3% 36%6% 2% 4% 6% 1% 5%

22% 6% 15% 19% 4% 17%64% 10% 25% 55% 7% 29%23% 10% 25% 20% 7% 7%3% 0% 1% 3% 0% 2%

48% 4% 12% 41% 3% 34%

17% 3% 7% 15% 2% 8%14% 3% 9% 12% 2% 10%7% 1% 3% 6% 1% 3%

20% 8% 21% 17% 6% 6%8% 2% 5% 7% 1% 6%

25% 10% 27% 22% 8% 7%13% 3% 9% 11% 2% 10%34% 7% 18% 29% 5% 15%23% 6% 15% 20% 4% 18%23% 3% 9% 19% 2% 10%21% 9% 23% 18% 6% 6%22% 6% 15% 19% 4% 17%11% 2% 6% 9% 2% 5%30% 3% 7% 26% 2% 21%69% 10% 27% 59% 7% 31%71% 11% 28% 61% 8% 32%4% 1% 1% 3% 0% 2%6% 1% 2% 5% 1% 3%

12% 5% 13% 10% 3% 3%49% 20% 53% 42% 15% 14%22% 9% 23% 19% 6% 6%22% 6% 15% 19% 4% 17%81% 12% 32% 70% 9% 37%36% 7% 19% 31% 5% 16%17% 7% 18% 14% 5% 5%16% 7% 18% 14% 5% 5%15% 1% 4% 13% 1% 11%7% 1% 4% 6% 1% 3%

26 27 28 29 30 31

0 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 0

0 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 0

0.521 0 0 0 0 00.000 0.978 0 0 0 00.001 0.005 0.834 0 0 00.025 0.000 0.001 0.679 0 00.000 0.001 0.004 0.000 0.988 00.006 -0.001 -0.002 0.004 0.000 0.888

-0.002 0.001 0.002 -0.001 0.001 0.0120.001 0.005 0.014 0.001 0.003 -0.0010.006 0.000 0.000 0.004 0.000 0.0010.001 0.007 0.020 0.001 0.005 -0.0020.000 0.001 0.004 0.000 0.001 0.0000.012 0.000 0.000 0.007 0.000 0.0010.029 0.000 0.001 0.018 0.000 0.0030.001 0.000 0.000 0.001 0.000 0.000

-0.001 0.000 0.001 0.000 0.000 0.0050.004 0.000 -0.001 0.002 0.000 0.0200.002 0.007 0.021 0.001 0.005 -0.0020.010 0.000 0.000 0.006 0.000 0.0010.001 0.003 0.010 0.000 0.002 -0.0010.004 0.001 0.002 0.003 0.000 0.0020.002 0.000 0.001 0.002 0.000 0.0010.004 0.000 0.001 0.002 0.000 0.0020.001 0.004 0.014 0.001 0.003 -0.0010.003 0.000 -0.001 0.002 0.000 0.0150.007 -0.001 -0.002 0.004 0.000 0.0370.002 0.009 0.026 0.001 0.006 -0.0020.004 0.000 -0.001 0.002 0.000 0.019

0.008 -0.001 -0.002 0.005 0.000 0.0410.000 0.000 0.000 0.000 0.000 0.0000.012 0.000 0.000 0.007 0.000 0.0010.000 0.001 0.004 0.000 0.001 0.0000.028 0.000 0.001 0.017 0.000 0.0030.002 0.007 0.020 0.001 0.005 -0.0020.010 -0.001 -0.003 0.006 -0.001 0.0530.003 0.000 -0.001 0.002 0.000 0.0130.001 0.002 0.007 0.000 0.002 -0.0010.004 0.001 0.002 0.002 0.000 0.0020.002 0.009 0.028 0.001 0.006 -0.0030.000 0.001 0.003 0.000 0.001 0.0000.015 0.000 0.000 0.010 0.000 0.0020.010 -0.001 -0.002 0.006 -0.001 0.050

-0.001 0.000 0.001 0.000 0.000 0.005-0.002 0.001 0.003 -0.001 0.001 0.0160.025 0.000 0.001 0.016 0.000 0.0030.001 0.004 0.012 0.001 0.003 -0.0010.001 0.000 0.000 0.000 0.000 0.0030.009 -0.001 -0.002 0.006 -0.001 0.0470.007 0.000 0.000 0.004 0.000 0.001

-0.001 0.001 0.002 -0.001 0.000 0.0100.001 0.000 0.000 0.001 0.000 0.0010.001 0.003 0.011 0.000 0.002 -0.001

-0.001 0.000 0.001 0.000 0.000 0.0060.001 0.004 0.013 0.001 0.003 -0.001

-0.001 0.001 0.002 -0.001 0.000 0.0090.006 0.001 0.002 0.004 0.001 0.003

-0.002 0.001 0.003 -0.001 0.001 0.0160.009 0.000 0.000 0.006 0.000 0.0010.001 0.004 0.011 0.001 0.003 -0.001

-0.002 0.001 0.003 -0.001 0.001 0.0160.002 0.000 0.001 0.001 0.000 0.0010.006 0.000 -0.001 0.004 0.000 0.0290.027 0.000 0.001 0.017 0.000 0.0030.028 0.000 0.001 0.017 0.000 0.0030.001 0.000 0.000 0.001 0.000 0.0000.002 0.000 0.000 0.001 0.000 0.0000.000 0.002 0.006 0.000 0.001 -0.0010.002 0.009 0.026 0.001 0.006 -0.0020.001 0.004 0.012 0.001 0.003 -0.001

-0.002 0.001 0.003 -0.001 0.001 0.0160.032 0.000 0.001 0.020 0.000 0.0040.006 0.001 0.002 0.004 0.001 0.0030.001 0.003 0.009 0.000 0.002 -0.0010.001 0.003 0.009 0.000 0.002 -0.0010.003 0.000 -0.001 0.002 0.000 0.0150.001 0.000 0.000 0.001 0.000 0.001

32 33 34 35 36 37Financial Chemical Oil Chemical Chemical Oil

66% 52% 17% 72% 16% 35%A BB BBB BBB BBB A

1% 1% 0% 2% 0% 1%50% 12% 4% 16% 4% 8%17% 27% 15% 38% 8% 30%15% 4% 1% 5% 1% 2%2% 1% 1% 2% 0% 2%

11% 7% 6% 9% 2% 12%12% 7% 6% 10% 2% 12%19% 51% 10% 70% 16% 20%11% 17% 9% 23% 5% 18%5% 8% 3% 11% 2% 7%5% 3% 2% 4% 1% 5%

24% 14% 12% 19% 4% 25%9% 5% 5% 7% 2% 9%

20% 31% 17% 43% 10% 34%13% 21% 11% 29% 6% 23%5% 3% 3% 4% 1% 5%6% 16% 3% 22% 5% 6%

11% 2% 1% 3% 1% 2%9% 14% 6% 19% 4% 11%2% 3% 1% 5% 1% 3%4% 11% 2% 15% 3% 4%3% 4% 2% 6% 1% 5%

15% 40% 8% 56% 13% 16%24% 6% 2% 8% 2% 4%5% 1% 0% 2% 0% 1%

17% 27% 14% 37% 8% 30%4% 11% 2% 16% 3% 4%

11% 29% 6% 41% 9% 12%15% 23% 12% 32% 7% 26%3% 8% 2% 11% 2% 3%

13% 8% 7% 11% 2% 14%

100% 10% 3% 14% 3% 7%10% 100% 5% 37% 8% 11%3% 5% 100% 7% 2% 6%

14% 37% 7% 100% 12% 15%3% 8% 2% 12% 100% 3%7% 11% 6% 15% 3% 100%

17% 27% 14% 37% 8% 29%2% 2% 1% 3% 1% 2%

19% 4% 1% 6% 1% 3%8% 5% 4% 6% 1% 8%

15% 39% 8% 54% 12% 16%6% 9% 5% 12% 3% 10%7% 19% 4% 27% 6% 8%8% 13% 5% 18% 4% 11%4% 7% 3% 10% 2% 6%6% 10% 4% 14% 3% 8%

10% 25% 5% 35% 8% 10%6% 3% 3% 5% 1% 6%

15% 9% 7% 12% 3% 15%19% 49% 10% 68% 15% 20%8% 4% 4% 6% 1% 8%

16% 9% 8% 13% 3% 17%1% 1% 1% 2% 0% 1%7% 11% 6% 15% 3% 12%3% 8% 2% 12% 3% 3%

16% 26% 14% 36% 8% 28%15% 38% 7% 53% 12% 15%21% 12% 10% 17% 4% 22%5% 3% 3% 4% 1% 5%5% 14% 3% 19% 4% 6%7% 11% 4% 15% 3% 9%

20% 52% 10% 72% 16% 21%2% 6% 1% 8% 2% 2%9% 14% 8% 20% 4% 16%

20% 12% 10% 16% 4% 20%17% 4% 1% 5% 1% 3%58% 14% 4% 19% 4% 9%15% 23% 12% 32% 7% 26%9% 23% 4% 32% 7% 9%1% 1% 1% 1% 0% 1%

18% 11% 9% 15% 3% 19%

4% 6% 3% 9% 2% 7%35% 8% 3% 11% 3% 5%2% 3% 1% 4% 1% 3%8% 20% 4% 27% 6% 8%

21% 5% 2% 7% 2% 3%10% 25% 5% 35% 8% 10%34% 8% 3% 11% 2% 5%10% 16% 7% 23% 5% 14%60% 14% 5% 19% 4% 9%5% 8% 4% 11% 3% 9%8% 21% 4% 30% 7% 9%

58% 14% 4% 19% 4% 9%3% 5% 2% 7% 2% 4%

11% 7% 6% 9% 2% 12%16% 25% 13% 34% 8% 28%16% 26% 14% 36% 8% 29%1% 1% 1% 2% 0% 1%1% 2% 1% 3% 1% 2%4% 12% 2% 16% 4% 5%

19% 49% 9% 68% 15% 19%8% 22% 4% 30% 7% 9%

57% 13% 4% 19% 4% 9%19% 29% 16% 41% 9% 33%11% 17% 7% 24% 5% 14%6% 17% 3% 23% 5% 7%6% 16% 3% 23% 5% 6%6% 3% 3% 5% 1% 6%2% 3% 1% 5% 1% 3%

32 33 34 35 36 37

0 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 0

0 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 0

0.847 0 0 0 0 00.002 0.860 0 0 0 00.000 0.000 0.986 0 0 00.003 0.018 0.000 0.709 0 00.001 0.004 0.000 0.007 0.987 00.000 0.000 0.001 0.000 0.000 0.940

-0.001 0.001 0.003 0.001 0.000 0.0060.000 0.000 0.000 0.000 0.000 0.0000.081 0.001 0.000 0.001 0.000 0.0000.007 -0.001 0.000 -0.001 0.000 0.0010.003 0.018 0.000 0.030 0.005 0.0000.000 0.000 0.001 0.000 0.000 0.0020.002 0.009 0.000 0.015 0.002 0.0000.003 0.002 0.000 0.003 0.000 0.0010.001 0.001 0.000 0.001 0.000 0.0000.002 0.001 0.000 0.002 0.000 0.0010.002 0.012 0.000 0.020 0.003 0.0000.005 -0.001 0.000 -0.001 0.000 0.0010.014 -0.002 0.001 -0.003 0.000 0.0010.004 0.023 0.000 0.038 0.006 0.0000.007 -0.001 0.000 -0.001 0.000 0.001

0.015 -0.002 0.001 -0.003 0.000 0.0020.000 0.000 0.000 0.000 0.000 0.0000.000 0.000 0.001 0.000 0.000 0.0020.001 0.004 0.000 0.007 0.001 0.000

-0.001 0.001 0.003 0.001 0.000 0.0060.003 0.018 0.000 0.030 0.005 0.0000.019 -0.002 0.001 -0.004 -0.001 0.0020.005 -0.001 0.000 -0.001 0.000 0.0010.001 0.007 0.000 0.011 0.002 0.0000.002 0.001 0.000 0.002 0.000 0.0010.004 0.024 0.000 0.040 0.006 0.0000.000 0.003 0.000 0.004 0.001 0.000

-0.001 0.000 0.001 0.001 0.000 0.0030.018 -0.002 0.001 -0.003 -0.001 0.0020.071 0.001 0.000 0.001 0.000 0.0000.245 0.002 0.000 0.003 0.001 0.000

-0.001 0.001 0.002 0.001 0.000 0.0050.002 0.011 0.000 0.018 0.003 0.0000.001 0.000 0.000 0.000 0.000 0.0000.017 -0.002 0.001 -0.003 -0.001 0.0020.000 0.000 0.001 0.000 0.000 0.0010.149 0.001 0.000 0.002 0.000 0.0000.001 0.000 0.000 0.001 0.000 0.0000.002 0.009 0.000 0.015 0.002 0.0000.088 0.001 0.000 0.001 0.000 0.0000.002 0.012 0.000 0.020 0.003 0.0000.145 0.001 0.000 0.002 0.000 0.0000.003 0.002 0.001 0.003 0.001 0.0010.254 0.002 0.000 0.004 0.001 0.0000.000 0.000 0.001 0.000 0.000 0.0020.002 0.010 0.000 0.017 0.003 0.0000.245 0.002 0.000 0.003 0.001 0.0000.001 0.001 0.000 0.001 0.000 0.0000.011 -0.001 0.001 -0.002 0.000 0.001

-0.001 0.001 0.003 0.001 0.000 0.006-0.001 0.001 0.003 0.001 0.000 0.0060.000 0.000 0.000 0.000 0.000 0.0000.000 0.000 0.000 0.000 0.000 0.0000.001 0.005 0.000 0.009 0.001 0.0000.004 0.023 0.000 0.038 0.006 0.0000.002 0.010 0.000 0.017 0.003 0.000

0.244 0.002 0.000 0.003 0.001 0.000-0.001 0.001 0.003 0.001 0.000 0.0070.004 0.002 0.001 0.003 0.001 0.0010.001 0.008 0.000 0.013 0.002 0.0000.001 0.008 0.000 0.013 0.002 0.0000.006 -0.001 0.000 -0.001 0.000 0.0010.001 0.000 0.000 0.001 0.000 0.000

38 39 40 41 42Oil Mining Financial Transport Chemical

85% 12% 29% 29% 75%BB BB BBB BBB A

1% 0% 0% 0% 2%19% 2% 22% 9% 17%74% 5% 8% 20% 39%6% 1% 7% 3% 5%6% 0% 1% 2% 2%

29% 2% 5% 12% 10%30% 2% 5% 13% 10%50% 5% 8% 9% 74%45% 3% 5% 12% 24%16% 4% 2% 4% 11%12% 1% 2% 5% 4%61% 4% 10% 26% 20%23% 2% 4% 10% 8%84% 6% 8% 23% 45%57% 4% 6% 16% 30%13% 1% 2% 6% 4%15% 1% 3% 3% 23%4% 0% 5% 2% 4%

28% 8% 4% 8% 20%7% 2% 1% 2% 5%

11% 1% 2% 2% 16%11% 1% 1% 3% 6%40% 4% 7% 7% 58%9% 1% 10% 4% 8%2% 0% 2% 1% 2%

74% 5% 7% 20% 39%11% 1% 2% 2% 16%29% 3% 5% 5% 42%63% 4% 6% 17% 33%8% 1% 1% 1% 12%

33% 2% 6% 14% 11%

17% 2% 19% 8% 15%27% 2% 4% 5% 39%14% 1% 1% 4% 8%37% 3% 6% 6% 54%8% 1% 1% 1% 12%

29% 2% 3% 8% 16%100% 5% 7% 20% 39%

5% 100% 1% 1% 3%7% 1% 100% 3% 6%

20% 1% 3% 100% 7%39% 3% 6% 7% 100%25% 2% 2% 7% 13%19% 2% 3% 3% 28%26% 7% 3% 7% 18%14% 4% 2% 4% 10%21% 6% 3% 6% 15%25% 2% 4% 4% 37%15% 1% 3% 6% 5%38% 3% 6% 16% 12%48% 4% 8% 8% 71%19% 1% 3% 8% 6%41% 3% 7% 18% 14%3% 1% 0% 1% 2%

29% 2% 3% 8% 16%8% 1% 1% 1% 12%

70% 5% 7% 19% 37%38% 3% 6% 6% 55%53% 4% 9% 23% 18%13% 1% 2% 6% 4%14% 1% 2% 2% 20%23% 6% 3% 6% 16%51% 5% 9% 9% 75%6% 0% 1% 1% 8%

39% 3% 4% 11% 21%50% 3% 8% 22% 17%6% 1% 7% 3% 6%

22% 2% 25% 10% 20%63% 4% 6% 17% 33%23% 2% 4% 4% 33%3% 0% 0% 1% 1%

47% 3% 8% 20% 16%

17% 1% 2% 5% 9%14% 1% 15% 6% 12%6% 2% 1% 2% 5%

20% 2% 3% 3% 29%8% 1% 9% 4% 7%

25% 2% 4% 4% 37%13% 1% 15% 6% 12%33% 9% 5% 9% 24%23% 2% 26% 11% 20%22% 2% 2% 6% 12%21% 2% 4% 4% 31%22% 2% 25% 10% 20%10% 3% 1% 3% 7%30% 2% 5% 13% 10%68% 5% 7% 19% 36%70% 5% 7% 19% 37%3% 0% 0% 1% 2%6% 0% 1% 2% 3%

11% 1% 2% 2% 17%48% 4% 8% 8% 71%21% 2% 4% 4% 31%22% 2% 25% 10% 20%80% 5% 8% 22% 43%36% 10% 5% 10% 25%16% 1% 3% 3% 24%16% 1% 3% 3% 24%15% 1% 3% 7% 5%7% 2% 1% 2% 5%

38 39 40 41 42

0 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 0

0 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 00 0 0 0 0

0.535 0 0 0 00.001 0.996 0 0 0

-0.001 0.000 0.970 0 00.003 0.000 0.002 0.961 00.001 0.000 0.001 -0.001 0.6740.009 0.000 0.000 0.001 0.0000.001 0.000 0.000 -0.001 0.0160.004 0.030 0.001 0.001 0.0030.002 0.017 0.000 0.001 0.0010.003 0.024 0.001 0.001 0.0020.001 0.000 0.001 -0.001 0.0210.002 0.000 0.002 0.008 -0.0010.006 0.000 0.004 0.020 -0.0030.002 0.000 0.001 -0.001 0.0400.003 0.000 0.002 0.010 -0.001

0.007 0.000 0.004 0.021 -0.0030.000 0.003 0.000 0.000 0.0000.010 0.000 0.000 0.001 0.0000.000 0.000 0.000 0.000 0.0070.025 0.000 0.000 0.002 0.0010.001 0.000 0.001 -0.001 0.0310.009 0.001 0.006 0.028 -0.0040.002 0.000 0.001 0.007 -0.0010.000 0.000 0.000 0.000 0.0110.003 0.027 0.001 0.001 0.0020.002 0.000 0.001 -0.001 0.0420.000 0.000 0.000 0.000 0.0050.014 0.000 0.000 0.001 0.0010.008 0.001 0.005 0.026 -0.0040.000 0.000 0.021 0.002 0.001

-0.002 0.000 0.072 0.006 0.0040.022 0.000 0.000 0.002 0.0010.001 0.000 0.000 -0.001 0.0190.000 0.000 0.000 0.002 0.0000.008 0.001 0.005 0.025 -0.0030.006 0.000 0.000 0.000 0.000

-0.001 0.000 0.044 0.004 0.0020.001 0.008 0.000 0.000 0.0010.001 0.000 0.000 -0.001 0.016

-0.001 0.000 0.026 0.002 0.0010.001 0.000 0.001 -0.001 0.021

-0.001 0.000 0.042 0.004 0.0020.005 0.039 0.001 0.002 0.003

-0.002 0.000 0.075 0.007 0.0040.008 0.000 0.000 0.001 0.0000.001 0.000 0.000 -0.001 0.017

-0.002 0.000 0.072 0.006 0.0040.002 0.012 0.000 0.000 0.0010.005 0.000 0.003 0.015 -0.0020.024 0.000 0.000 0.002 0.0010.025 0.000 0.000 0.002 0.0010.001 0.000 0.000 0.000 0.0000.002 0.000 0.000 0.000 0.0000.000 0.000 0.000 0.000 0.0100.002 0.000 0.001 -0.001 0.0400.001 0.000 0.000 -0.001 0.018

-0.002 0.000 0.072 0.006 0.0040.028 0.000 0.000 0.002 0.0010.005 0.042 0.001 0.002 0.0040.001 0.000 0.000 0.000 0.0140.001 0.000 0.000 0.000 0.0130.002 0.000 0.002 0.008 -0.0010.001 0.008 0.000 0.000 0.001

43 44 45 46 47 48Oil Chemical Mining Mining Mining Chemical

29% 37% 61% 34% 49% 49%A BB BBB A BB BB

0% 1% 1% 0% 0% 1%7% 8% 9% 5% 7% 11%

25% 19% 27% 15% 21% 26%2% 3% 3% 2% 2% 3%2% 1% 2% 1% 2% 1%

10% 5% 10% 6% 8% 6%10% 5% 11% 6% 9% 6%17% 36% 24% 13% 19% 48%15% 12% 16% 9% 13% 16%5% 6% 23% 13% 19% 7%4% 2% 4% 2% 3% 3%

21% 10% 22% 12% 17% 13%8% 4% 8% 5% 7% 5%

28% 22% 30% 17% 24% 29%19% 15% 20% 11% 16% 19%4% 2% 5% 3% 4% 3%5% 11% 7% 4% 6% 15%1% 2% 2% 1% 2% 2%

10% 10% 40% 22% 32% 13%2% 2% 10% 5% 8% 3%4% 8% 5% 3% 4% 10%4% 3% 4% 2% 3% 4%

13% 29% 19% 10% 15% 38%3% 4% 4% 2% 4% 5%1% 1% 1% 1% 1% 1%

25% 19% 26% 15% 21% 25%4% 8% 5% 3% 4% 11%

10% 21% 14% 8% 11% 28%21% 17% 23% 12% 18% 22%3% 6% 4% 2% 3% 8%

11% 5% 12% 7% 10% 7%

6% 7% 8% 4% 6% 10%9% 19% 13% 7% 10% 25%5% 4% 5% 3% 4% 5%

12% 27% 18% 10% 14% 35%3% 6% 4% 2% 3% 8%

10% 8% 11% 6% 8% 10%25% 19% 26% 14% 21% 25%2% 2% 7% 4% 6% 2%2% 3% 3% 2% 3% 4%7% 3% 7% 4% 6% 4%

13% 28% 18% 10% 15% 37%100% 6% 9% 5% 7% 8%

6% 100% 9% 5% 7% 18%9% 9% 100% 21% 30% 12%5% 5% 21% 100% 16% 7%7% 7% 30% 16% 100% 10%8% 18% 12% 7% 10% 100%5% 2% 5% 3% 4% 3%

13% 6% 13% 7% 11% 8%16% 35% 23% 13% 18% 46%7% 3% 7% 4% 6% 4%

14% 7% 15% 8% 12% 9%1% 1% 4% 2% 3% 1%

10% 8% 11% 6% 8% 10%3% 6% 4% 2% 3% 8%

24% 18% 25% 14% 20% 24%13% 27% 18% 10% 14% 36%18% 9% 19% 11% 15% 11%5% 2% 5% 3% 4% 3%5% 10% 7% 4% 5% 13%8% 8% 33% 18% 26% 10%

17% 37% 24% 13% 19% 49%2% 4% 3% 1% 2% 5%

13% 10% 14% 8% 11% 13%17% 8% 18% 10% 14% 11%2% 3% 3% 2% 2% 4%8% 10% 11% 6% 8% 13%

21% 16% 23% 12% 18% 22%8% 16% 11% 6% 9% 22%1% 0% 1% 1% 1% 1%

16% 8% 17% 9% 13% 10%

6% 4% 6% 3% 5% 6%5% 6% 6% 4% 5% 8%2% 2% 9% 5% 7% 3%7% 14% 9% 5% 7% 19%3% 3% 4% 2% 3% 5%8% 18% 12% 7% 9% 24%4% 6% 6% 3% 5% 8%

11% 12% 48% 26% 38% 15%8% 10% 11% 6% 9% 13%8% 6% 8% 4% 6% 8%7% 15% 10% 6% 8% 20%7% 10% 11% 6% 8% 13%4% 4% 15% 8% 12% 5%

10% 5% 11% 6% 8% 6%23% 18% 24% 13% 19% 23%24% 18% 25% 14% 20% 24%1% 1% 1% 1% 1% 1%2% 2% 2% 1% 2% 2%4% 8% 5% 3% 4% 11%

16% 35% 23% 13% 18% 46%7% 15% 10% 6% 8% 20%7% 10% 11% 6% 8% 13%

27% 21% 29% 16% 23% 28%12% 12% 51% 28% 41% 16%6% 12% 8% 4% 6% 16%5% 12% 8% 4% 6% 15%5% 2% 5% 3% 4% 3%2% 2% 10% 5% 8% 3%

43 44 45 46 47 48

0 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 0

0 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 0

0.959 0 0 0 0 00.000 0.931 0 0 0 00.001 0.001 0.887 0 0 00.000 0.000 0.099 0.962 0 00.001 0.001 0.142 0.058 0.917 00.000 0.007 0.001 0.001 0.001 0.8770.000 0.000 0.001 0.000 0.001 -0.0010.001 -0.001 0.002 0.001 0.001 -0.0010.000 0.014 0.002 0.001 0.001 0.0190.001 0.000 0.001 0.001 0.001 -0.001

0.001 -0.001 0.003 0.001 0.002 -0.0010.000 0.000 0.019 0.008 0.011 0.0000.002 0.000 0.001 0.000 0.001 0.0000.000 0.002 0.000 0.000 0.000 0.0030.004 0.000 0.002 0.001 0.001 0.0000.000 0.011 0.002 0.001 0.001 0.0150.002 -0.001 0.003 0.001 0.002 -0.0020.000 0.000 0.001 0.000 0.001 0.0000.000 0.004 0.001 0.000 0.000 0.0050.001 0.001 0.156 0.064 0.092 0.0010.000 0.014 0.003 0.001 0.001 0.0200.000 0.002 0.000 0.000 0.000 0.0020.002 0.000 0.001 0.000 0.001 0.0000.001 -0.001 0.003 0.001 0.002 -0.0020.000 0.000 0.001 0.000 0.000 0.0000.000 0.001 0.002 0.001 0.001 0.0020.004 0.000 0.002 0.001 0.001 0.0000.000 0.006 0.001 0.000 0.001 0.0090.000 0.000 0.000 0.000 0.000 0.0000.001 -0.001 0.003 0.001 0.002 -0.0020.001 0.000 0.001 0.000 0.000 0.0000.000 0.001 0.001 0.001 0.001 0.0010.000 0.000 0.045 0.018 0.026 0.0000.000 0.006 0.001 0.000 0.001 0.0080.000 0.000 0.001 0.000 0.001 0.0010.000 0.007 0.001 0.001 0.001 0.0100.000 0.001 0.001 0.001 0.001 0.0010.001 0.001 0.230 0.094 0.136 0.0010.000 0.001 0.003 0.001 0.001 0.0020.001 0.000 0.001 0.000 0.000 0.0000.000 0.006 0.001 0.000 0.001 0.0080.000 0.001 0.002 0.001 0.001 0.0020.000 0.000 0.072 0.029 0.042 0.0000.001 -0.001 0.002 0.001 0.001 -0.0010.004 0.000 0.002 0.001 0.001 0.0000.004 0.000 0.002 0.001 0.001 0.0000.000 0.000 0.000 0.000 0.000 0.0000.000 0.000 0.000 0.000 0.000 0.0000.000 0.003 0.001 0.000 0.000 0.0050.000 0.014 0.002 0.001 0.001 0.0190.000 0.006 0.001 0.000 0.001 0.008

0.000 0.001 0.002 0.001 0.001 0.0020.005 0.000 0.002 0.001 0.001 0.0010.001 0.001 0.245 0.100 0.145 0.0010.000 0.005 0.001 0.000 0.000 0.0060.000 0.005 0.001 0.000 0.000 0.0060.000 0.000 0.001 0.000 0.001 -0.0010.000 0.000 0.046 0.019 0.027 0.000

49 50 51 52 53 54Transport Transport Chemical Transport Transport Mining

22% 55% 94% 28% 60% 6%BB BB A BBB BB BB

0% 0% 2% 0% 0% 0%7% 17% 21% 9% 18% 1%

15% 38% 49% 20% 42% 3%2% 5% 7% 3% 6% 0%2% 4% 2% 2% 5% 0%9% 23% 12% 12% 25% 1%

10% 24% 13% 13% 27% 1%6% 16% 92% 8% 18% 3%9% 23% 30% 12% 26% 2%3% 8% 14% 4% 9% 2%4% 10% 5% 5% 11% 0%

20% 49% 25% 25% 54% 2%7% 19% 10% 10% 21% 1%

17% 43% 56% 22% 48% 3%12% 29% 38% 15% 32% 2%4% 10% 5% 5% 11% 0%2% 5% 28% 3% 5% 1%1% 3% 4% 2% 4% 0%6% 15% 25% 7% 16% 4%1% 4% 6% 2% 4% 1%1% 3% 20% 2% 4% 1%2% 6% 8% 3% 6% 0%5% 13% 73% 7% 14% 2%3% 8% 10% 4% 9% 0%1% 2% 2% 1% 2% 0%

15% 38% 49% 20% 41% 3%1% 4% 20% 2% 4% 1%4% 9% 53% 5% 10% 1%

13% 33% 42% 17% 36% 2%1% 3% 15% 1% 3% 0%

11% 27% 14% 14% 29% 1%

6% 15% 19% 8% 16% 1%3% 9% 49% 4% 9% 1%3% 7% 10% 4% 8% 1%5% 12% 68% 6% 13% 2%1% 3% 15% 1% 3% 0%6% 15% 20% 8% 17% 1%

15% 38% 48% 19% 41% 3%1% 3% 4% 1% 3% 1%3% 6% 8% 3% 7% 0%6% 16% 8% 8% 18% 1%5% 12% 71% 6% 14% 2%5% 13% 16% 7% 14% 1%2% 6% 35% 3% 7% 1%5% 13% 23% 7% 15% 4%3% 7% 13% 4% 8% 2%4% 11% 18% 6% 12% 3%3% 8% 46% 4% 9% 1%

100% 12% 6% 6% 13% 1%12% 100% 16% 16% 33% 1%6% 16% 100% 8% 17% 2%6% 16% 8% 100% 17% 1%

13% 33% 17% 17% 100% 2%1% 1% 2% 1% 2% 100%6% 15% 19% 8% 17% 1%1% 3% 15% 1% 3% 0%

14% 36% 47% 19% 40% 3%5% 12% 69% 6% 13% 2%

17% 43% 22% 22% 47% 2%4% 11% 6% 6% 12% 1%2% 4% 25% 2% 5% 1%5% 12% 20% 6% 13% 3%7% 16% 94% 8% 18% 3%1% 2% 10% 1% 2% 0%8% 20% 26% 10% 22% 1%

16% 41% 21% 21% 44% 2%2% 5% 7% 3% 6% 0%8% 19% 25% 10% 21% 1%

13% 33% 42% 17% 36% 2%3% 7% 42% 4% 8% 1%1% 2% 1% 1% 3% 0%

15% 38% 20% 20% 42% 2%

4% 9% 11% 5% 10% 1%5% 12% 15% 6% 13% 1%1% 3% 6% 2% 4% 1%3% 6% 36% 3% 7% 1%3% 7% 9% 4% 8% 0%3% 8% 46% 4% 9% 1%4% 11% 14% 6% 12% 1%7% 17% 30% 9% 19% 5%8% 20% 25% 10% 22% 1%5% 12% 15% 6% 13% 1%3% 7% 39% 3% 7% 1%8% 19% 25% 10% 21% 1%2% 5% 9% 3% 6% 2%9% 24% 12% 12% 26% 1%

14% 35% 45% 18% 38% 3%14% 36% 47% 19% 40% 3%1% 2% 2% 1% 2% 0%1% 3% 4% 2% 3% 0%1% 4% 21% 2% 4% 1%6% 16% 89% 8% 17% 2%3% 7% 39% 4% 8% 1%8% 19% 24% 10% 21% 1%

17% 41% 53% 21% 45% 3%7% 18% 32% 9% 20% 5%2% 5% 30% 3% 6% 1%2% 5% 30% 3% 6% 1%5% 12% 6% 6% 13% 1%1% 3% 6% 2% 4% 1%

49 50 51 52 53 54

0 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 0

0 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 0

0.979 0 0 0 0 00.014 0.856 0 0 0 0

-0.001 -0.002 0.377 0 0 00.007 0.021 -0.003 0.964 0 0

0.016 0.044 -0.006 0.019 0.823 00.000 0.000 0.000 0.000 0.000 0.9990.001 0.001 0.001 0.001 0.002 0.0000.000 0.000 0.014 0.000 0.000 0.0000.001 0.003 0.002 0.002 0.004 0.000

-0.001 -0.002 0.065 -0.001 -0.002 0.0000.020 0.058 -0.008 0.025 0.062 0.0000.005 0.015 -0.002 0.006 0.016 0.0000.000 -0.001 0.024 0.000 -0.001 0.0000.001 0.002 0.003 0.001 0.002 0.010

-0.001 -0.003 0.089 -0.001 -0.002 0.0000.000 0.000 0.010 0.000 0.000 0.0000.001 0.002 0.001 0.001 0.002 0.0000.019 0.055 -0.007 0.024 0.058 0.0000.001 0.004 0.002 0.002 0.004 0.0000.005 0.013 0.008 0.006 0.014 0.0000.001 0.003 0.002 0.001 0.003 0.0000.000 -0.001 0.039 0.000 -0.001 0.0000.001 0.003 0.000 0.001 0.003 0.0000.018 0.051 -0.007 0.022 0.055 0.0000.000 0.001 0.000 0.000 0.001 0.0000.003 0.008 0.005 0.004 0.009 0.0000.000 0.000 0.001 0.000 0.000 0.0030.000 -0.001 0.034 0.000 -0.001 0.0000.002 0.005 0.003 0.002 0.005 0.0000.000 -0.001 0.043 0.000 -0.001 0.0000.003 0.008 0.004 0.003 0.008 0.0000.001 0.002 0.005 0.001 0.002 0.0150.005 0.014 0.008 0.006 0.015 0.0000.000 0.001 0.001 0.000 0.001 0.0000.000 -0.001 0.037 0.000 -0.001 0.0000.005 0.013 0.008 0.006 0.014 0.0000.000 0.001 0.002 0.000 0.001 0.0050.011 0.032 -0.004 0.014 0.034 0.0000.001 0.003 0.002 0.001 0.004 0.0000.001 0.003 0.002 0.002 0.004 0.0000.000 0.000 0.000 0.000 0.000 0.0000.000 0.000 0.000 0.000 0.000 0.0000.000 -0.001 0.020 0.000 0.000 0.000

-0.001 -0.002 0.084 -0.001 -0.002 0.0000.000 -0.001 0.037 0.000 -0.001 0.000

0.005 0.013 0.008 0.006 0.014 0.0000.001 0.004 0.002 0.002 0.004 0.0000.001 0.002 0.005 0.001 0.003 0.0160.000 -0.001 0.029 0.000 -0.001 0.0000.000 -0.001 0.028 0.000 -0.001 0.0000.006 0.016 -0.002 0.007 0.018 0.0000.000 0.000 0.001 0.000 0.000 0.003

55 56 57 58 59 60Oil Chemical Oil Chemical Transport Transport

34% 16% 82% 73% 78% 20%A BB A BB BB A

1% 0% 1% 2% 1% 0%8% 4% 19% 17% 24% 6%

30% 8% 72% 38% 54% 14%2% 1% 6% 5% 7% 2%2% 0% 5% 2% 6% 2%

12% 2% 28% 9% 33% 8%12% 2% 29% 10% 35% 9%20% 16% 48% 72% 23% 6%18% 5% 44% 23% 33% 8%7% 2% 16% 11% 12% 3%5% 1% 12% 4% 14% 4%

25% 4% 59% 20% 70% 18%9% 2% 23% 8% 27% 7%

34% 10% 81% 43% 62% 16%23% 6% 55% 29% 41% 10%5% 1% 13% 4% 15% 4%6% 5% 15% 22% 7% 2%2% 1% 4% 3% 5% 1%

11% 4% 27% 19% 21% 5%3% 1% 7% 5% 5% 1%4% 3% 10% 15% 5% 1%5% 1% 11% 6% 8% 2%

16% 13% 38% 57% 18% 5%4% 2% 9% 8% 11% 3%1% 0% 2% 2% 2% 1%

30% 8% 71% 38% 54% 14%4% 3% 11% 16% 5% 1%

12% 9% 28% 41% 13% 3%26% 7% 61% 33% 46% 12%3% 2% 8% 11% 4% 1%

13% 2% 32% 11% 38% 10%

7% 3% 16% 15% 21% 5%11% 8% 26% 38% 12% 3%6% 2% 14% 7% 10% 3%

15% 12% 36% 53% 17% 4%3% 3% 8% 12% 4% 1%

12% 3% 28% 15% 22% 5%29% 8% 70% 38% 53% 13%2% 1% 5% 3% 4% 1%3% 1% 7% 6% 9% 2%8% 1% 19% 6% 23% 6%

16% 12% 37% 55% 18% 4%10% 3% 24% 13% 18% 5%8% 6% 18% 27% 9% 2%

11% 4% 25% 18% 19% 5%6% 2% 14% 10% 11% 3%8% 3% 20% 14% 15% 4%

10% 8% 24% 36% 11% 3%6% 1% 14% 5% 17% 4%

15% 3% 36% 12% 43% 11%19% 15% 47% 69% 22% 6%8% 1% 19% 6% 22% 6%

17% 3% 40% 13% 47% 12%1% 0% 3% 2% 2% 1%

100% 3% 28% 15% 21% 5%3% 100% 8% 12% 4% 1%

28% 8% 100% 36% 51% 13%15% 12% 36% 100% 17% 4%21% 4% 51% 17% 100% 15%5% 1% 13% 4% 15% 100%6% 4% 13% 20% 6% 2%9% 3% 22% 16% 17% 4%

21% 16% 49% 73% 23% 6%2% 2% 5% 8% 3% 1%

16% 4% 38% 20% 29% 7%20% 4% 49% 16% 58% 15%3% 1% 6% 6% 8% 2%9% 4% 21% 19% 27% 7%

25% 7% 61% 33% 46% 12%9% 7% 22% 33% 10% 3%1% 0% 3% 1% 3% 1%

19% 3% 46% 15% 54% 14%

7% 2% 17% 9% 13% 3%5% 3% 13% 12% 17% 4%3% 1% 6% 4% 5% 1%8% 6% 19% 28% 9% 2%3% 2% 8% 7% 10% 2%

10% 8% 24% 36% 11% 3%5% 2% 13% 11% 16% 4%

14% 5% 32% 23% 25% 6%9% 4% 22% 20% 28% 7%9% 3% 22% 12% 16% 4%8% 7% 20% 30% 10% 2%9% 4% 21% 19% 27% 7%4% 2% 10% 7% 8% 2%

12% 2% 29% 10% 34% 9%27% 8% 66% 35% 50% 13%28% 8% 68% 36% 52% 13%1% 0% 3% 2% 3% 1%2% 1% 6% 3% 4% 1%5% 4% 11% 16% 5% 1%

19% 15% 46% 69% 22% 6%9% 7% 21% 31% 10% 2%9% 4% 21% 19% 27% 7%

32% 9% 78% 41% 59% 15%14% 5% 34% 25% 26% 7%7% 5% 16% 24% 8% 2%6% 5% 15% 23% 7% 2%6% 1% 15% 5% 17% 4%3% 1% 6% 5% 5% 1%

55 56 57 58 59 60

0 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 0

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0.000 0.000 -0.002 0.003 0.021 0.0030.006 0.000 0.024 0.001 0.006 0.0010.001 0.000 0.003 0.002 0.004 0.0010.000 0.001 0.000 0.009 -0.001 0.0000.000 0.001 0.000 0.009 -0.001 0.0000.000 0.000 0.002 -0.001 0.026 0.0040.000 0.000 0.001 0.000 0.001 0.000

61 62 63 64 65 66Chemical Mining Chemical Chemical Oil Transport

27% 53% 100% 11% 46% 74%BBB BBB A A BB BBB

1% 1% 3% 0% 1% 1%6% 8% 22% 2% 10% 22%

14% 23% 52% 6% 40% 52%2% 2% 7% 1% 3% 7%1% 2% 2% 0% 3% 6%3% 9% 13% 1% 15% 31%4% 9% 13% 1% 16% 33%

26% 21% 97% 11% 27% 22%9% 14% 32% 3% 24% 31%4% 20% 15% 2% 9% 11%1% 4% 5% 1% 7% 13%7% 19% 27% 3% 33% 66%3% 7% 10% 1% 12% 25%

16% 26% 59% 6% 45% 58%11% 18% 40% 4% 30% 39%2% 4% 6% 1% 7% 14%8% 6% 30% 3% 8% 7%1% 2% 5% 1% 2% 5%7% 35% 26% 3% 15% 20%2% 9% 6% 1% 4% 5%6% 5% 21% 2% 6% 5%2% 4% 8% 1% 6% 8%

21% 17% 77% 8% 21% 17%3% 4% 11% 1% 5% 11%1% 1% 2% 0% 1% 2%

14% 23% 51% 6% 39% 51%6% 5% 21% 2% 6% 5%

15% 12% 56% 6% 15% 12%12% 20% 44% 5% 34% 44%4% 3% 15% 2% 4% 3%4% 10% 15% 2% 18% 36%

5% 7% 20% 2% 9% 20%14% 11% 52% 6% 14% 12%3% 4% 10% 1% 8% 10%

19% 15% 72% 8% 20% 16%4% 3% 16% 2% 4% 4%6% 9% 21% 2% 16% 20%

14% 23% 51% 6% 39% 50%1% 6% 5% 0% 3% 3%2% 3% 9% 1% 4% 8%2% 6% 9% 1% 11% 22%

20% 16% 75% 8% 21% 17%5% 8% 17% 2% 13% 17%

10% 8% 37% 4% 10% 8%7% 33% 24% 3% 14% 18%4% 18% 13% 1% 8% 10%5% 26% 19% 2% 11% 14%

13% 10% 49% 5% 13% 11%2% 5% 7% 1% 8% 16%4% 12% 16% 2% 20% 41%

25% 20% 94% 10% 26% 21%2% 6% 8% 1% 10% 21%5% 13% 18% 2% 22% 44%1% 3% 3% 0% 1% 2%6% 9% 21% 2% 16% 20%4% 3% 16% 2% 4% 4%

13% 22% 49% 5% 38% 49%20% 16% 73% 8% 20% 16%6% 17% 23% 3% 29% 58%2% 4% 6% 1% 7% 15%

100% 6% 27% 3% 7% 6%6% 100% 21% 2% 12% 16%

27% 21% 100% 11% 27% 22%3% 2% 11% 100% 3% 2%7% 12% 27% 3% 100% 27%6% 16% 22% 2% 27% 100%2% 3% 7% 1% 3% 7%7% 9% 26% 3% 12% 26%

12% 20% 44% 5% 34% 44%12% 9% 44% 5% 12% 10%0% 1% 1% 0% 2% 3%6% 15% 21% 2% 25% 51%

3% 5% 12% 1% 9% 12%4% 6% 16% 2% 7% 16%2% 8% 6% 1% 3% 5%

10% 8% 38% 4% 10% 8%3% 3% 9% 1% 4% 9%

13% 10% 48% 5% 13% 11%4% 5% 15% 2% 7% 15%8% 42% 31% 3% 18% 23%7% 10% 27% 3% 12% 27%4% 7% 16% 2% 12% 16%

11% 9% 41% 4% 11% 9%7% 9% 26% 3% 12% 26%3% 13% 10% 1% 6% 7%3% 9% 13% 1% 16% 32%

13% 21% 48% 5% 36% 47%13% 22% 49% 5% 38% 49%1% 1% 2% 0% 2% 2%1% 2% 4% 0% 3% 4%6% 5% 22% 2% 6% 5%

25% 20% 94% 10% 26% 21%11% 9% 41% 4% 11% 9%7% 9% 26% 3% 12% 26%

15% 25% 56% 6% 43% 56%9% 45% 33% 4% 19% 25%9% 7% 32% 3% 9% 7%8% 7% 31% 3% 9% 7%2% 5% 7% 1% 8% 17%2% 8% 6% 1% 4% 5%

61 62 63 64 65 66

0 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 0

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0 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 0

0.964 0 0 0 0 00.000 0.894 0 0 0 00.007 0.001 0.190 0 0 00.001 0.000 0.015 0.994 0 00.000 0.001 0.002 0.000 0.892 00.000 0.002 -0.009 0.000 0.002 0.7080.000 0.000 0.004 0.000 0.000 0.0050.001 0.001 0.013 0.000 -0.001 0.0170.000 0.001 0.003 0.000 0.006 0.0040.003 0.001 0.062 0.000 0.000 0.0000.000 0.000 -0.001 0.000 0.000 0.0040.000 0.001 -0.009 0.000 0.002 0.0630.000 0.000 0.001 0.000 0.002 0.0010.000 0.001 0.008 0.000 0.000 0.0100.000 0.027 0.001 0.000 0.000 0.0010.003 0.000 0.053 0.000 0.000 0.0000.000 0.000 0.005 0.000 0.000 0.0060.004 0.001 0.068 0.000 0.000 0.0000.000 0.001 0.007 0.000 0.000 0.0100.000 0.138 0.007 0.000 0.001 0.0030.001 0.001 0.013 0.000 -0.001 0.0170.000 0.000 0.001 0.000 0.002 0.0010.003 0.000 0.057 0.000 0.000 0.0000.001 0.001 0.013 0.000 -0.001 0.0170.000 0.043 0.002 0.000 0.000 0.0010.000 0.001 -0.005 0.000 0.001 0.0400.000 0.001 0.003 0.000 0.007 0.0040.000 0.001 0.003 0.000 0.007 0.0040.000 0.000 0.000 0.000 0.000 0.0000.000 0.000 0.000 0.000 0.001 0.0000.002 0.000 0.031 0.000 0.000 0.0000.007 0.001 0.131 0.001 0.000 -0.0010.003 0.000 0.058 0.000 0.000 0.000

0.001 0.001 0.012 0.000 -0.001 0.0170.000 0.001 0.004 0.000 0.008 0.0050.000 0.147 0.008 0.000 0.001 0.0030.002 0.000 0.045 0.000 0.000 0.0000.002 0.000 0.044 0.000 0.000 0.0000.000 0.000 -0.003 0.000 0.001 0.0200.000 0.028 0.001 0.000 0.000 0.001

67 68 69 70 71 72Financial Financial Oil Chemical Transport Transport

25% 87% 74% 44% 4% 69%BBB BB A BBB BB BBB

0% 1% 1% 1% 0% 1%19% 66% 17% 10% 1% 21%7% 23% 65% 23% 3% 48%6% 20% 5% 3% 0% 6%1% 3% 5% 1% 0% 6%4% 15% 25% 6% 2% 29%4% 15% 26% 6% 2% 31%7% 25% 43% 43% 1% 20%4% 14% 39% 14% 2% 29%2% 7% 14% 7% 1% 11%2% 6% 11% 2% 1% 12%9% 31% 53% 12% 4% 62%3% 12% 20% 5% 1% 24%7% 26% 73% 26% 3% 55%5% 17% 49% 18% 2% 37%2% 7% 11% 3% 1% 13%2% 8% 13% 13% 0% 6%4% 14% 4% 2% 0% 4%3% 12% 24% 12% 1% 18%1% 3% 6% 3% 0% 5%2% 6% 9% 9% 0% 4%1% 3% 10% 4% 0% 7%6% 20% 34% 34% 1% 16%9% 31% 8% 5% 1% 10%2% 7% 2% 1% 0% 2%6% 22% 64% 23% 3% 48%2% 6% 10% 10% 0% 4%4% 15% 25% 25% 1% 12%6% 19% 55% 20% 3% 41%1% 4% 7% 7% 0% 3%5% 17% 29% 7% 2% 34%

17% 58% 15% 9% 1% 18%4% 14% 23% 23% 1% 11%1% 4% 12% 4% 1% 9%5% 19% 32% 32% 1% 15%1% 4% 7% 7% 0% 3%3% 9% 26% 9% 1% 19%6% 22% 63% 23% 3% 47%1% 2% 4% 2% 0% 3%7% 25% 6% 4% 0% 8%3% 10% 17% 4% 1% 20%6% 20% 33% 33% 1% 16%2% 8% 21% 8% 1% 16%3% 10% 16% 16% 0% 8%3% 11% 23% 11% 1% 17%2% 6% 12% 6% 1% 9%2% 8% 18% 9% 1% 13%4% 13% 22% 22% 1% 10%2% 8% 13% 3% 1% 15%5% 19% 33% 7% 2% 38%7% 25% 42% 42% 1% 20%3% 10% 17% 4% 1% 20%6% 21% 36% 8% 3% 42%0% 1% 2% 1% 0% 2%3% 9% 25% 9% 1% 19%1% 4% 7% 7% 0% 3%6% 21% 61% 22% 3% 46%6% 19% 33% 33% 1% 15%8% 27% 46% 10% 3% 54%2% 7% 12% 3% 1% 14%2% 7% 12% 12% 0% 6%3% 9% 20% 9% 1% 15%7% 26% 44% 44% 1% 21%1% 3% 5% 5% 0% 2%3% 12% 34% 12% 2% 25%7% 26% 44% 10% 3% 51%

100% 22% 6% 3% 0% 7%22% 100% 19% 12% 1% 24%6% 19% 100% 20% 3% 41%3% 12% 20% 100% 1% 9%0% 1% 3% 1% 100% 3%7% 24% 41% 9% 3% 100%

2% 5% 15% 5% 1% 11%13% 46% 12% 7% 1% 15%1% 3% 6% 3% 0% 4%3% 10% 17% 17% 0% 8%8% 27% 7% 4% 1% 9%4% 13% 22% 22% 1% 10%

13% 45% 11% 7% 1% 14%4% 14% 29% 14% 1% 22%

22% 78% 20% 12% 2% 25%2% 7% 19% 7% 1% 15%3% 11% 18% 18% 1% 9%

22% 76% 19% 12% 1% 24%1% 4% 9% 4% 0% 7%4% 15% 26% 6% 2% 30%6% 21% 59% 21% 3% 44%6% 22% 61% 22% 3% 46%0% 1% 3% 1% 0% 2%1% 2% 5% 2% 0% 4%2% 6% 10% 10% 0% 5%7% 25% 42% 42% 1% 20%3% 11% 18% 18% 1% 9%

22% 75% 19% 11% 1% 24%7% 25% 70% 25% 3% 52%4% 15% 31% 15% 1% 23%2% 8% 14% 14% 0% 7%2% 8% 14% 14% 0% 7%2% 8% 13% 3% 1% 15%1% 3% 6% 3% 0% 4%

67 68 69 70 71 72

0 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 00 0 0 0 0 0

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0.977 0 0 0 0 00.060 0.668 0 0 0 00.000 -0.001 0.680 0 0 00.000 0.000 0.000 0.897 0 00.000 0.001 0.000 0.000 0.999 00.003 0.015 0.003 0.000 0.002 0.7470.000 0.000 0.004 0.000 0.000 0.0010.037 0.184 0.000 0.000 0.000 0.0040.000 0.000 0.000 0.000 0.000 0.0000.000 0.000 0.000 0.001 0.000 0.0000.022 0.109 0.000 0.000 0.000 0.0030.000 0.000 0.000 0.002 0.000 0.0000.036 0.178 0.000 0.000 0.000 0.0040.000 0.002 0.002 0.000 0.000 0.0020.063 0.313 -0.001 0.000 0.000 0.0070.000 -0.001 0.005 0.000 0.000 0.0010.000 0.000 0.000 0.001 0.000 0.0000.060 0.302 -0.001 0.000 0.000 0.0070.000 0.001 0.001 0.000 0.000 0.0010.002 0.009 0.002 0.000 0.001 0.0320.000 -0.002 0.015 0.000 0.000 0.0030.000 -0.002 0.015 0.000 0.000 0.0030.000 0.000 0.001 0.000 0.000 0.0000.000 0.000 0.001 0.000 0.000 0.0000.000 0.000 0.000 0.001 0.000 0.0000.000 0.001 0.000 0.003 0.000 -0.0010.000 0.000 0.000 0.001 0.000 0.000

0.060 0.300 -0.001 0.000 0.000 0.0070.000 -0.002 0.017 0.000 0.000 0.0040.000 0.002 0.002 0.000 0.000 0.0020.000 0.000 0.000 0.001 0.000 0.0000.000 0.000 0.000 0.001 0.000 0.0000.001 0.005 0.001 0.000 0.001 0.0160.000 0.000 0.000 0.000 0.000 0.000

73 74 75 76 77 78 79Oil Financial Mining Chemical Financial Chemical Financial

20% 53% 15% 38% 31% 49% 51%BBB A BBB BBB BB A BBB

0% 0% 0% 1% 0% 1% 0%5% 40% 2% 9% 24% 11% 39%

18% 14% 7% 20% 8% 25% 13%1% 12% 1% 3% 7% 3% 12%1% 2% 0% 1% 1% 1% 2%7% 9% 3% 5% 5% 6% 9%7% 9% 3% 5% 6% 6% 9%

12% 16% 6% 37% 9% 47% 15%11% 8% 4% 12% 5% 15% 8%4% 4% 6% 6% 2% 7% 4%3% 4% 1% 2% 2% 3% 4%

14% 19% 5% 10% 11% 13% 18%5% 7% 2% 4% 4% 5% 7%

20% 16% 8% 23% 9% 29% 15%13% 11% 5% 15% 6% 19% 10%3% 4% 1% 2% 2% 3% 4%4% 5% 2% 11% 3% 15% 5%1% 8% 0% 2% 5% 2% 8%7% 7% 10% 10% 4% 13% 7%2% 2% 2% 2% 1% 3% 2%3% 3% 1% 8% 2% 10% 3%3% 2% 1% 3% 1% 4% 2%9% 12% 5% 30% 7% 38% 12%2% 19% 1% 4% 11% 5% 18%0% 4% 0% 1% 2% 1% 4%

17% 14% 7% 20% 8% 25% 13%3% 3% 1% 8% 2% 10% 3%7% 9% 3% 21% 5% 27% 9%

15% 12% 6% 17% 7% 22% 11%2% 2% 1% 6% 1% 8% 2%8% 10% 3% 6% 6% 7% 10%

4% 35% 2% 8% 21% 10% 34%6% 8% 3% 20% 5% 25% 8%3% 3% 1% 4% 2% 5% 3%9% 11% 4% 27% 7% 35% 11%2% 3% 1% 6% 2% 8% 2%7% 5% 3% 8% 3% 10% 5%

17% 14% 6% 20% 8% 25% 13%1% 1% 2% 2% 1% 2% 1%2% 15% 1% 3% 9% 4% 15%5% 6% 2% 3% 4% 4% 6%9% 12% 5% 29% 7% 37% 12%6% 5% 2% 7% 3% 8% 4%4% 6% 2% 14% 3% 18% 6%6% 6% 9% 9% 4% 12% 6%3% 4% 5% 5% 2% 7% 3%5% 5% 7% 7% 3% 9% 5%6% 8% 3% 19% 5% 24% 8%4% 5% 1% 3% 3% 3% 4%9% 12% 3% 6% 7% 8% 11%

11% 15% 6% 36% 9% 46% 14%5% 6% 2% 3% 4% 4% 6%

10% 13% 4% 7% 8% 9% 12%1% 1% 1% 1% 0% 1% 1%7% 5% 3% 8% 3% 10% 5%2% 3% 1% 6% 2% 8% 2%

17% 13% 6% 19% 8% 24% 13%9% 12% 4% 28% 7% 36% 11%

13% 17% 5% 9% 10% 11% 16%3% 4% 1% 2% 2% 3% 4%3% 4% 2% 10% 3% 13% 4%5% 6% 8% 8% 3% 10% 5%

12% 16% 6% 38% 9% 48% 15%1% 2% 1% 4% 1% 5% 2%9% 7% 3% 10% 4% 13% 7%

12% 16% 5% 8% 9% 11% 15%2% 13% 1% 3% 8% 4% 13%5% 46% 3% 10% 27% 13% 45%

15% 12% 6% 17% 7% 22% 11%5% 7% 3% 17% 4% 22% 7%1% 1% 0% 0% 1% 1% 1%

11% 15% 4% 8% 9% 10% 14%

100% 3% 2% 5% 2% 6% 3%3% 100% 2% 6% 17% 8% 27%2% 2% 100% 2% 1% 3% 2%5% 6% 2% 100% 4% 19% 6%2% 17% 1% 4% 100% 5% 16%6% 8% 3% 19% 5% 100% 7%3% 27% 2% 6% 16% 7% 100%8% 8% 12% 12% 5% 15% 8%5% 48% 3% 10% 28% 13% 46%5% 4% 2% 6% 2% 8% 4%5% 7% 3% 16% 4% 20% 6%5% 46% 3% 10% 27% 13% 44%2% 3% 4% 4% 2% 5% 3%7% 9% 3% 5% 5% 6% 9%

16% 13% 6% 18% 8% 23% 12%17% 13% 6% 19% 8% 24% 13%1% 1% 0% 1% 0% 1% 1%1% 1% 1% 2% 1% 2% 1%3% 4% 1% 9% 2% 11% 3%

11% 15% 6% 36% 9% 46% 14%5% 7% 3% 16% 4% 20% 6%5% 46% 3% 10% 27% 13% 44%

19% 15% 7% 22% 9% 27% 14%8% 9% 13% 13% 5% 16% 9%4% 5% 2% 12% 3% 16% 5%4% 5% 2% 12% 3% 15% 5%4% 5% 1% 3% 3% 3% 5%2% 2% 2% 2% 1% 3% 2%

73 74 75 76 77 78 79

0 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 0

0 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 0

0 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 0

0.980 0 0 0 0 0 00.000 0.872 0 0 0 0 00.000 0.000 0.991 0 0 0 00.000 0.000 0.000 0.925 0 0 00.000 0.028 0.000 0.000 0.957 0 00.000 0.000 0.000 0.001 0.000 0.875 00.000 0.045 0.000 0.000 0.023 0.000 0.8790.000 0.001 0.032 0.000 0.000 0.000 0.0000.000 0.080 0.000 0.000 0.041 0.000 0.0710.001 0.000 0.000 0.000 0.000 0.000 0.0000.000 0.000 0.000 0.001 0.000 0.002 0.0000.000 0.077 0.000 0.000 0.039 0.000 0.0690.000 0.000 0.010 0.000 0.000 0.000 0.0000.000 0.002 0.000 0.000 0.001 0.000 0.0020.003 0.000 0.000 0.000 0.000 0.000 0.0000.003 0.000 0.000 0.000 0.000 0.000 0.0000.000 0.000 0.000 0.000 0.000 0.000 0.0000.000 0.000 0.000 0.000 0.000 0.000 0.0000.000 0.000 0.000 0.001 0.000 0.001 0.0000.000 0.000 0.000 0.003 0.000 0.004 0.0000.000 0.000 0.000 0.001 0.000 0.002 0.000

0.000 0.076 0.000 0.000 0.039 0.000 0.0680.003 0.000 0.000 0.000 0.000 0.000 0.0000.000 0.001 0.034 0.000 0.000 0.000 0.0000.000 0.000 0.000 0.001 0.000 0.001 0.0000.000 0.000 0.000 0.001 0.000 0.001 0.0000.000 0.001 0.000 0.000 0.001 0.000 0.0010.000 0.000 0.006 0.000 0.000 0.000 0.000

80 81 82 83 84 85 86Mining Financial Oil Chemical Financial Mining Transport

79% 90% 26% 41% 87% 25% 43%BBB A BB BBB A BB BBB

1% 1% 0% 1% 1% 0% 0%12% 68% 6% 9% 65% 4% 13%34% 24% 23% 22% 23% 11% 30%4% 21% 2% 3% 20% 1% 4%3% 3% 2% 1% 3% 1% 4%

13% 15% 9% 5% 15% 4% 18%14% 16% 9% 5% 15% 4% 19%31% 26% 15% 40% 25% 10% 13%21% 14% 14% 13% 14% 7% 18%30% 7% 5% 6% 7% 9% 7%6% 6% 4% 2% 6% 2% 8%

28% 32% 19% 11% 31% 9% 39%11% 12% 7% 4% 12% 3% 15%39% 27% 26% 24% 26% 12% 34%26% 18% 17% 16% 17% 8% 23%6% 7% 4% 2% 7% 2% 8%9% 8% 5% 12% 8% 3% 4%2% 14% 1% 2% 14% 1% 3%

52% 12% 9% 11% 12% 16% 11%13% 3% 2% 3% 3% 4% 3%7% 6% 3% 9% 5% 2% 3%5% 4% 4% 3% 3% 2% 5%

24% 21% 12% 32% 20% 8% 10%6% 33% 3% 4% 31% 2% 6%1% 7% 1% 1% 7% 0% 1%

34% 23% 23% 21% 22% 11% 30%7% 6% 3% 9% 6% 2% 3%

18% 15% 9% 23% 15% 6% 7%29% 20% 19% 18% 19% 9% 26%5% 4% 2% 6% 4% 2% 2%

15% 18% 10% 6% 17% 5% 21%

10% 60% 5% 8% 58% 3% 11%16% 14% 8% 21% 14% 5% 7%7% 5% 4% 4% 4% 2% 6%

23% 19% 11% 30% 19% 7% 9%5% 4% 3% 7% 4% 2% 2%

14% 9% 9% 9% 9% 4% 12%33% 23% 22% 21% 22% 10% 30%9% 2% 2% 2% 2% 3% 2%5% 26% 2% 4% 25% 1% 5%9% 11% 6% 4% 10% 3% 13%

24% 20% 12% 31% 20% 7% 10%11% 8% 8% 7% 7% 4% 10%12% 10% 6% 15% 10% 4% 5%48% 11% 8% 10% 11% 15% 11%26% 6% 4% 6% 6% 8% 6%38% 9% 6% 8% 8% 12% 8%15% 13% 8% 20% 13% 5% 6%7% 8% 5% 3% 8% 2% 9%

17% 20% 12% 7% 19% 5% 24%30% 25% 15% 39% 25% 9% 12%9% 10% 6% 3% 10% 3% 12%

19% 22% 13% 7% 21% 6% 26%5% 1% 1% 1% 1% 2% 1%

14% 9% 9% 8% 9% 4% 12%5% 4% 3% 7% 4% 2% 2%

32% 22% 22% 20% 21% 10% 29%23% 20% 12% 30% 19% 7% 10%25% 28% 16% 10% 27% 8% 34%6% 7% 4% 2% 7% 2% 9%8% 7% 4% 11% 7% 3% 3%

42% 10% 7% 9% 9% 13% 9%31% 27% 16% 41% 26% 10% 13%3% 3% 2% 4% 3% 1% 1%

18% 12% 12% 11% 12% 6% 16%23% 27% 16% 9% 26% 7% 32%4% 22% 2% 3% 22% 1% 4%

14% 78% 7% 11% 76% 4% 15%29% 20% 19% 18% 19% 9% 26%14% 12% 7% 18% 12% 4% 6%1% 2% 1% 1% 1% 0% 2%

22% 25% 15% 9% 24% 7% 30%

8% 5% 5% 5% 5% 2% 7%8% 48% 4% 7% 46% 3% 9%

12% 3% 2% 3% 3% 4% 3%12% 10% 6% 16% 10% 4% 5%5% 28% 2% 4% 27% 2% 5%

15% 13% 8% 20% 13% 5% 6%8% 46% 4% 6% 44% 3% 9%

100% 14% 10% 13% 14% 19% 14%14% 100% 7% 11% 78% 4% 16%10% 7% 100% 6% 7% 3% 9%13% 11% 6% 100% 11% 4% 5%14% 78% 7% 11% 100% 4% 15%19% 4% 3% 4% 4% 100% 4%14% 16% 9% 5% 15% 4% 100%31% 22% 21% 20% 21% 10% 28%32% 22% 22% 20% 22% 10% 29%2% 1% 1% 1% 1% 1% 1%3% 2% 2% 2% 2% 1% 2%7% 6% 4% 9% 6% 2% 3%

30% 25% 15% 39% 25% 9% 12%13% 11% 7% 17% 11% 4% 5%14% 78% 7% 11% 75% 4% 15%37% 25% 25% 23% 25% 12% 33%66% 15% 11% 14% 15% 21% 14%10% 9% 5% 13% 8% 3% 4%10% 8% 5% 13% 8% 3% 4%7% 8% 5% 3% 8% 2% 10%

12% 3% 2% 3% 3% 4% 3%

80 81 82 83 84 85 86

0 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 0

0 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 0

0 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 0

0.738 0 0 0 0 0 00.001 0.543 0 0 0 0 00.001 0.000 0.965 0 0 0 00.000 0.000 0.000 0.912 0 0 00.001 0.187 0.000 0.000 0.555 0 00.069 0.000 0.000 0.000 0.000 0.975 00.001 0.005 0.000 0.000 0.003 0.000 0.9090.002 -0.001 0.004 0.000 -0.001 0.000 0.0020.002 -0.001 0.004 0.000 -0.001 0.000 0.0020.000 0.000 0.000 0.000 0.000 0.000 0.0000.000 0.000 0.000 0.000 0.000 0.000 0.0000.000 0.000 0.000 0.001 0.000 0.000 0.0000.000 0.001 0.000 0.003 0.000 0.000 0.0000.000 0.000 0.000 0.001 0.000 0.000 0.000

0.001 0.185 0.000 0.000 0.113 0.000 0.0020.002 -0.001 0.004 0.000 -0.001 0.000 0.0020.234 0.001 0.000 0.000 0.001 0.039 0.0010.000 0.000 0.000 0.001 0.000 0.000 0.0000.000 0.000 0.000 0.001 0.000 0.000 0.0000.001 0.003 0.000 0.000 0.002 0.000 0.0080.044 0.000 0.000 0.000 0.000 0.007 0.000

87 88 89 90 91 92 93Oil Oil Oil Oil Chemical Chemical Chemical

80% 83% 4% 7% 22% 94% 42%A BB BBB A A BB A

1% 1% 0% 0% 1% 2% 1%18% 19% 1% 2% 5% 21% 9%70% 72% 4% 6% 12% 49% 22%6% 6% 0% 0% 2% 7% 3%5% 5% 0% 0% 1% 2% 1%

27% 28% 1% 2% 3% 12% 5%28% 29% 1% 2% 3% 12% 6%47% 48% 2% 4% 22% 92% 41%42% 44% 2% 4% 7% 30% 13%15% 16% 1% 1% 3% 14% 6%11% 12% 1% 1% 1% 5% 2%57% 59% 3% 5% 6% 25% 11%22% 23% 1% 2% 2% 10% 4%79% 82% 4% 7% 13% 56% 25%53% 55% 3% 5% 9% 37% 17%12% 13% 1% 1% 1% 5% 2%14% 15% 1% 1% 7% 28% 13%4% 4% 0% 0% 1% 4% 2%

26% 27% 1% 2% 6% 25% 11%6% 7% 0% 1% 1% 6% 3%

10% 10% 1% 1% 5% 20% 9%11% 11% 1% 1% 2% 8% 3%37% 38% 2% 3% 17% 73% 32%9% 9% 0% 1% 2% 10% 5%2% 2% 0% 0% 1% 2% 1%

69% 71% 4% 6% 12% 49% 22%10% 11% 1% 1% 5% 20% 9%27% 28% 1% 2% 13% 53% 23%59% 61% 3% 5% 10% 42% 19%7% 8% 0% 1% 3% 15% 6%

31% 32% 2% 3% 3% 14% 6%

16% 16% 1% 1% 4% 19% 8%25% 26% 1% 2% 12% 49% 22%13% 14% 1% 1% 2% 9% 4%34% 36% 2% 3% 16% 68% 30%8% 8% 0% 1% 4% 15% 7%

28% 29% 1% 2% 5% 19% 9%68% 70% 3% 6% 11% 48% 21%5% 5% 0% 0% 1% 4% 2%7% 7% 0% 1% 2% 8% 4%

19% 19% 1% 2% 2% 8% 4%36% 37% 2% 3% 17% 71% 31%23% 24% 1% 2% 4% 16% 7%18% 18% 1% 2% 8% 35% 15%24% 25% 1% 2% 5% 23% 10%13% 14% 1% 1% 3% 13% 6%19% 20% 1% 2% 4% 18% 8%23% 24% 1% 2% 11% 46% 20%14% 14% 1% 1% 1% 6% 3%35% 36% 2% 3% 4% 16% 7%45% 47% 2% 4% 21% 89% 39%18% 19% 1% 2% 2% 8% 4%38% 40% 2% 3% 4% 17% 8%3% 3% 0% 0% 1% 2% 1%

27% 28% 1% 2% 5% 19% 9%8% 8% 0% 1% 4% 15% 7%

66% 68% 3% 6% 11% 46% 21%35% 36% 2% 3% 16% 69% 31%50% 52% 3% 4% 5% 22% 10%13% 13% 1% 1% 1% 6% 2%13% 13% 1% 1% 6% 25% 11%21% 22% 1% 2% 5% 20% 9%48% 49% 2% 4% 22% 94% 41%5% 5% 0% 0% 2% 10% 4%

36% 38% 2% 3% 6% 26% 11%47% 49% 2% 4% 5% 21% 9%6% 6% 0% 1% 2% 7% 3%

21% 22% 1% 2% 6% 25% 11%59% 61% 3% 5% 10% 42% 18%21% 22% 1% 2% 10% 42% 18%3% 3% 0% 0% 0% 1% 1%

44% 46% 2% 4% 5% 20% 9%

16% 17% 1% 1% 3% 11% 5%13% 13% 1% 1% 4% 15% 7%6% 6% 0% 1% 1% 6% 3%

18% 19% 1% 2% 9% 36% 16%8% 8% 0% 1% 2% 9% 4%

23% 24% 1% 2% 11% 46% 20%12% 13% 1% 1% 3% 14% 6%31% 32% 2% 3% 7% 30% 13%22% 22% 1% 2% 6% 25% 11%21% 22% 1% 2% 4% 15% 7%20% 20% 1% 2% 9% 39% 17%21% 22% 1% 2% 6% 25% 11%10% 10% 1% 1% 2% 9% 4%28% 29% 1% 2% 3% 12% 5%

100% 66% 3% 6% 11% 45% 20%66% 100% 3% 6% 11% 47% 21%3% 3% 100% 0% 1% 2% 1%6% 6% 0% 100% 1% 4% 2%

11% 11% 1% 1% 100% 21% 9%45% 47% 2% 4% 21% 100% 39%20% 21% 1% 2% 9% 39% 100%21% 21% 1% 2% 6% 24% 11%75% 78% 4% 7% 13% 53% 24%33% 35% 2% 3% 8% 31% 14%15% 16% 1% 1% 7% 30% 13%15% 16% 1% 1% 7% 29% 13%14% 15% 1% 1% 2% 6% 3%6% 7% 0% 1% 1% 6% 3%

87 88 89 90 91 92 93

0 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 0

0 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 0

0 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 0

0.611 0 0 0 0 0 00.018 0.573 0 0 0 0 00.001 0.001 0.999 0 0 0 00.002 0.002 0.000 0.998 0 0 00.000 0.000 0.000 0.000 0.975 0 00.000 0.000 0.000 0.000 0.002 0.350 00.000 0.000 0.000 0.000 0.001 0.008 0.910

0.000 0.000 0.000 0.000 0.000 0.000 0.0000.020 0.022 0.001 0.001 0.000 0.000 0.0000.002 0.002 0.000 0.000 0.000 0.001 0.0000.000 0.000 0.000 0.000 0.001 0.006 0.0010.000 0.000 0.000 0.000 0.001 0.006 0.0010.001 0.001 0.000 0.000 0.000 0.000 0.0000.000 0.000 0.000 0.000 0.000 0.000 0.000

94 95 96 97 98 99 100Financial Oil Mining Chemical Chemical Transport Mining

86% 94% 84% 32% 31% 22% 16%BB BB A BB BB BB BB

1% 1% 1% 1% 1% 0% 0%65% 21% 13% 7% 7% 7% 2%23% 82% 37% 17% 16% 16% 7%20% 7% 4% 2% 2% 2% 1%3% 6% 3% 1% 1% 2% 1%

15% 32% 14% 4% 4% 9% 3%15% 33% 15% 4% 4% 10% 3%25% 55% 33% 31% 31% 7% 6%14% 50% 22% 10% 10% 9% 4%7% 18% 32% 5% 5% 3% 6%6% 14% 6% 2% 2% 4% 1%

31% 68% 30% 9% 8% 20% 6%12% 26% 11% 3% 3% 8% 2%26% 93% 41% 19% 19% 18% 8%17% 63% 28% 13% 12% 12% 5%7% 14% 6% 2% 2% 4% 1%8% 17% 10% 10% 9% 2% 2%

14% 4% 3% 2% 1% 1% 0%11% 31% 55% 9% 8% 6% 10%3% 8% 14% 2% 2% 1% 3%5% 12% 7% 7% 7% 1% 1%3% 13% 6% 3% 3% 2% 1%

20% 44% 26% 25% 24% 5% 5%31% 10% 6% 3% 3% 3% 1%7% 2% 1% 1% 1% 1% 0%

22% 81% 36% 17% 16% 15% 7%6% 12% 7% 7% 7% 1% 1%

15% 32% 19% 18% 18% 4% 4%19% 70% 31% 14% 14% 13% 6%4% 9% 5% 5% 5% 1% 1%

17% 37% 16% 5% 5% 11% 3%

57% 19% 11% 6% 6% 6% 2%13% 29% 17% 17% 16% 3% 3%4% 16% 7% 3% 3% 3% 1%

19% 41% 24% 23% 23% 5% 5%4% 9% 5% 5% 5% 1% 1%9% 33% 14% 7% 6% 6% 3%

22% 80% 36% 16% 16% 15% 7%2% 5% 10% 1% 1% 1% 2%

25% 8% 5% 3% 3% 3% 1%10% 22% 10% 3% 3% 7% 2%20% 43% 25% 24% 24% 5% 5%7% 27% 12% 6% 5% 5% 2%

10% 21% 12% 12% 12% 2% 2%11% 29% 51% 8% 8% 5% 10%6% 16% 28% 4% 4% 3% 5%8% 23% 41% 6% 6% 4% 8%

13% 28% 16% 16% 15% 3% 3%8% 17% 7% 2% 2% 5% 1%

19% 41% 18% 5% 5% 12% 3%24% 53% 32% 30% 30% 6% 6%10% 21% 9% 3% 3% 6% 2%21% 45% 20% 6% 6% 13% 4%1% 3% 5% 1% 1% 1% 1%9% 32% 14% 7% 6% 6% 3%4% 9% 5% 5% 5% 1% 1%

21% 78% 34% 16% 15% 15% 6%19% 41% 25% 24% 23% 5% 5%27% 59% 26% 8% 7% 17% 5%7% 15% 7% 2% 2% 4% 1%7% 15% 9% 9% 8% 2% 2%9% 25% 45% 7% 7% 5% 8%

26% 56% 33% 32% 31% 7% 6%3% 6% 4% 3% 3% 1% 1%

12% 43% 19% 9% 9% 8% 4%26% 56% 25% 7% 7% 17% 5%22% 7% 4% 2% 2% 2% 1%75% 25% 15% 8% 8% 8% 3%19% 70% 31% 14% 14% 13% 6%11% 25% 15% 14% 14% 3% 3%1% 3% 1% 0% 0% 1% 0%

24% 52% 23% 7% 7% 15% 4%

5% 19% 8% 4% 4% 4% 2%46% 15% 9% 5% 5% 5% 2%3% 7% 13% 2% 2% 1% 2%

10% 22% 13% 12% 12% 3% 2%27% 9% 5% 3% 3% 3% 1%13% 27% 16% 16% 15% 3% 3%44% 14% 9% 5% 5% 5% 2%14% 37% 66% 10% 10% 7% 12%78% 25% 15% 9% 8% 8% 3%7% 25% 11% 5% 5% 5% 2%

11% 23% 14% 13% 13% 3% 3%75% 25% 15% 8% 8% 8% 3%4% 12% 21% 3% 3% 2% 4%

15% 33% 14% 4% 4% 10% 3%21% 75% 33% 15% 15% 14% 6%21% 78% 35% 16% 16% 15% 7%1% 4% 2% 1% 1% 1% 0%2% 7% 3% 1% 1% 1% 1%6% 13% 8% 7% 7% 2% 1%

24% 53% 31% 30% 29% 6% 6%11% 24% 14% 13% 13% 3% 3%

100% 24% 14% 8% 8% 8% 3%24% 100% 39% 18% 18% 17% 7%14% 39% 100% 11% 10% 7% 13%8% 18% 11% 100% 10% 2% 2%8% 18% 10% 10% 100% 2% 2%8% 17% 7% 2% 2% 100% 1%3% 7% 13% 2% 2% 1% 100%

94 95 96 97 98 99 100

0 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 0

0 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 0

0 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 00 0 0 0 0 0 0

0.552 0 0 0 0 0 0-0.001 0.356 0 0 0 0 00.000 0.003 0.653 0 0 0 00.000 0.000 0.000 0.947 0 0 00.000 0.000 0.000 0.001 0.950 0 00.001 0.002 0.000 0.000 0.000 0.977 00.000 0.001 0.037 0.000 0.000 0.000 0.989

6.35: This worksheet runs a single scenario to calculate the PV of payments to be made under the CDS

Maturity of PackageT-dist Run Simulation?

v = 10 correlatedAsset uniform growth growth U Sector

rv rate rate[1] [2] [3] [4]

1 45.95% -10.44% -10.44% 45.95% 1 Chemical2 92.84% 158.89% 158.82% 92.83% 2 Financial3 52.46% 6.32% 37.39% 64.18% 3 Oil4 88.91% 130.31% 156.05% 92.52% 4 Financial5 22.12% -79.98% -75.35% 23.43% 5 Transport6 11.57% -127.45% -99.48% 17.17% 6 Transport7 66.83% 44.85% 53.09% 69.65% 7 Transport8 74.98% 69.93% 103.08% 83.65% 8 Chemical9 1.86% -240.15% -187.06% 4.55% 9 Oil

10 46.64% -8.66% 1.35% 50.52% 10 Mining11 40.53% -24.61% -23.61% 40.91% 11 Transport12 45.28% -12.17% -6.27% 47.56% 12 Transport13 19.09% -91.50% -87.93% 19.99% 13 Transport14 57.42% 19.21% 19.62% 57.58% 14 Oil15 19.29% -90.68% -55.93% 29.41% 15 Oil16 66.42% 43.68% 41.82% 65.77% 16 Transport17 12.68% -121.16% -85.56% 20.61% 17 Chemical18 66.52% 43.95% 64.23% 73.24% 18 Financial19 67.40% 46.48% 57.76% 71.19% 19 Mining20 79.78% 87.04% 93.62% 81.44% 20 Mining21 21.87% -80.90% -58.18% 28.68% 21 Chemical22 4.23% -191.49% -187.48% 4.51% 22 Oil23 0.22% -365.65% -161.81% 6.84% 23 Chemical24 62.48% 32.69% 78.58% 77.49% 24 Financial25 71.18% 57.74% 68.19% 74.46% 25 Financial26 39.58% -27.14% -0.18% 49.93% 26 Oil27 78.38% 81.79% 97.07% 82.27% 27 Chemical28 25.24% -69.18% -12.57% 45.12% 28 Chemical29 61.05% 28.83% 30.87% 61.81% 29 Oil30 86.88% 118.77% 129.51% 88.78% 30 Chemical31 97.13% 214.73% 190.00% 95.67% 31 Transport32 2.90% -214.10% -87.79% 20.03% 32 Financial33 53.74% 9.62% 48.73% 68.17% 33 Chemical34 66.97% 45.23% 47.46% 67.74% 34 Oil35 34.48% -41.11% 26.96% 60.35% 35 Chemical36 64.29% 37.68% 49.53% 68.45% 36 Chemical37 83.95% 104.42% 104.02% 83.86% 37 Oil38 23.92% -73.66% -24.24% 40.67% 38 Oil39 40.85% -23.75% -18.11% 42.99% 39 Mining40 82.22% 96.87% 117.04% 86.55% 40 Financial41 31.24% -50.44% -46.15% 32.72% 41 Transport

42 90.21% 138.61% 151.11% 91.92% 42 Chemical43 86.58% 117.20% 116.83% 86.51% 43 Oil44 63.80% 36.32% 64.47% 73.32% 44 Chemical45 73.44% 64.86% 86.53% 79.64% 45 Mining46 33.15% -44.91% -20.77% 41.98% 46 Mining47 12.09% -124.43% -84.31% 20.94% 47 Mining48 25.01% -69.94% -20.79% 41.97% 48 Chemical49 26.95% -63.62% -61.00% 27.77% 49 Transport50 9.14% -143.15% -120.25% 12.84% 50 Transport51 43.52% -16.74% 71.02% 75.31% 51 Chemical52 45.20% -12.37% -13.71% 44.68% 52 Transport53 20.69% -85.25% -74.23% 23.75% 53 Transport54 62.33% 32.28% 34.74% 63.23% 54 Mining55 13.46% -117.00% -104.82% 15.96% 55 Oil56 40.80% -23.90% -10.57% 45.90% 56 Chemical57 88.70% 129.02% 86.25% 79.57% 57 Oil58 28.03% -60.19% 17.67% 56.84% 58 Chemical59 28.43% -58.94% -49.40% 31.60% 59 Transport60 74.50% 68.31% 63.28% 72.95% 60 Transport61 35.91% -37.12% -14.55% 44.36% 61 Chemical62 67.61% 47.08% 63.10% 72.89% 62 Mining63 41.03% -23.28% 74.06% 76.20% 63 Chemical64 69.75% 53.41% 61.25% 72.31% 64 Chemical65 87.85% 124.08% 118.45% 86.82% 65 Oil66 47.16% -7.31% -18.11% 43.00% 66 Transport67 64.73% 38.91% 58.60% 71.46% 67 Financial68 64.82% 39.17% 100.09% 82.98% 68 Financial69 51.74% 4.47% 16.42% 56.36% 69 Oil70 45.91% -10.53% 24.11% 59.28% 70 Chemical71 94.72% 177.96% 177.08% 94.65% 71 Transport72 10.83% -131.88% -109.93% 14.87% 72 Transport73 96.85% 209.18% 208.54% 96.82% 73 Oil74 45.68% -11.14% 41.96% 65.82% 74 Financial75 52.25% 5.79% 12.97% 55.03% 75 Mining76 7.30% -157.64% -116.85% 13.48% 76 Chemical77 33.44% -44.08% -11.88% 45.39% 77 Financial78 86.62% 117.40% 139.31% 90.31% 78 Chemical79 88.83% 129.79% 162.59% 93.25% 79 Financial80 8.72% -146.22% -70.42% 24.87% 80 Mining81 81.18% 92.58% 144.55% 91.05% 81 Financial82 8.60% -147.11% -137.33% 9.98% 82 Oil83 31.38% -50.03% -14.52% 44.37% 83 Chemical84 43.38% -17.10% 98.79% 82.67% 84 Financial85 27.96% -60.41% -57.20% 29.00% 85 Mining86 58.79% 22.81% 9.85% 53.83% 86 Transport87 51.44% 3.69% 16.04% 56.21% 87 Oil88 83.00% 100.21% 71.71% 75.51% 88 Oil89 97.18% 215.60% 216.23% 97.21% 89 Oil90 53.25% 8.37% 9.73% 53.78% 90 Oil91 77.39% 78.23% 93.21% 81.34% 91 Chemical92 73.56% 65.25% 94.03% 81.54% 92 Chemical93 60.26% 26.72% 56.39% 70.74% 93 Chemical94 20.03% -87.80% 57.18% 71.00% 94 Financial95 82.99% 100.17% 54.37% 70.07% 95 Oil

96 99.22% 290.96% 194.11% 95.95% 96 Mining97 96.28% 199.18% 213.51% 97.07% 97 Chemical98 59.94% 25.86% 48.91% 68.24% 98 Chemical99 27.72% -61.16% -64.81% 26.57% 99 Transport

100 42.92% -18.31% -6.64% 47.42% 100 Mining

6.35: This worksheet runs a single scenario to calculate the PV of payments to be made under the CDS

Maturity of Package 5Run Simulation? Yes - Press F9

Rating Principal PD LGD Maturity Default??

[5]

BB 30 8.81% 48.87% 6A 50 0.52% 61.48% 9

BB 50 8.81% 48.87% 5BB 10 4.50% 61.48% 3

A 30 0.52% 48.87% 9BB 50 8.81% 46.20% 8BB 50 8.81% 46.20% 10

BBB 50 1.84% 46.20% 8A 50 0.52% 46.20% 6A 10 0.52% 46.20% 9

BBB 30 1.84% 61.48% 8BB 30 8.81% 46.20% 10BB 10 8.81% 48.87% 10

A 10 0.52% 48.87% 7BBB 30 1.84% 48.87% 7

BB 10 8.81% 46.20% 8BB 30 8.81% 46.20% 8

A 10 0.52% 46.20% 10BBB 10 1.84% 48.87% 6

BB 50 8.81% 48.87% 9BB 10 8.81% 46.20% 9

BBB 30 1.84% 61.48% 8BBB 10 0.74% 46.20% 3BBB 50 1.84% 61.48% 9BBB 10 1.84% 61.48% 6

BB 10 8.81% 48.87% 10A 10 0.33% 48.87% 4A 30 0.52% 48.87% 9

BBB 30 1.84% 48.87% 7A 30 0.33% 48.87% 4A 30 0.52% 46.20% 8A 50 0.52% 61.48% 8

BB 30 8.81% 46.20% 8BBB 30 1.84% 48.87% 8BBB 50 1.23% 48.87% 4BBB 30 1.84% 48.87% 10

A 10 0.52% 61.48% 7BB 30 8.81% 61.48% 10BB 50 8.81% 48.87% 9

BBB 10 1.84% 48.87% 8BBB 50 1.84% 46.20% 6

A 30 0.52% 46.20% 9A 30 0.52% 46.20% 8

BB 10 6.58% 61.48% 4BBB 30 1.84% 48.87% 8

A 50 0.52% 46.20% 9BB 10 8.81% 61.48% 5BB 50 8.81% 46.20% 10BB 50 6.58% 46.20% 4BB 30 4.50% 48.87% 3

A 30 0.52% 48.87% 5BBB 10 1.23% 67.26% 4

BB 10 8.81% 46.20% 6BB 30 4.50% 46.20% 3

A 50 0.33% 61.48% 4BB 50 8.81% 61.48% 7

A 50 0.52% 46.20% 5BB 10 8.81% 46.20% 5BB 50 8.81% 46.20% 5

A 50 0.52% 46.20% 10BBB 50 1.84% 46.20% 9BBB 50 1.84% 48.87% 6

A 30 0.52% 46.20% 5A 50 0.52% 46.20% 10

BB 30 8.81% 46.20% 6BBB 30 1.84% 48.87% 8BBB 50 1.84% 48.87% 5

BB 30 8.81% 61.48% 7A 50 0.52% 46.20% 5

BBB 10 0.74% 61.48% 3BB 30 8.81% 46.20% 5

BBB 50 1.84% 48.87% 7BBB 50 1.84% 46.20% 6

A 50 0.52% 46.20% 7BBB 30 1.84% 46.20% 6BBB 10 1.84% 48.87% 10

BB 50 8.81% 61.48% 9A 50 0.52% 46.20% 5

BBB 30 1.23% 46.20% 4BBB 50 1.84% 46.20% 8

A 50 0.52% 48.87% 7BB 50 8.81% 46.20% 10

BBB 50 1.23% 48.87% 4A 10 0.52% 48.87% 9

BB 10 6.58% 46.20% 4BBB 50 1.84% 48.87% 9

A 30 0.18% 46.20% 3BB 50 8.81% 48.87% 7

BBB 10 1.84% 48.87% 10A 50 0.52% 46.20% 7A 30 0.52% 61.48% 5

BB 10 8.81% 46.20% 9A 50 0.52% 46.20% 9

BB 50 8.81% 48.87% 10BB 10 8.81% 61.48% 5

A 30 0.52% 46.20% 10BB 10 6.58% 46.20% 4BB 30 8.81% 46.20% 7BB 30 8.81% 48.87% 10BB 10 4.50% 48.87% 3

When? PV Payments(Start of period)

[6] [7]Total = 0.00%

6.36: This worksheet runs a single antithetic scenario to calculate the PV of payments to be made under the CDS

Maturity of PackageT-dist Run Simulation?

v = 10 correlatedAsset rv growth growth U Sector

rate rate

1 54.05% 10.44% 10.44% 54.05% 1 Chemical2 7.16% -158.89% -158.82% 7.17% 2 Financial3 47.54% -6.32% -37.39% 35.82% 3 Oil4 11.09% -130.31% -156.05% 7.48% 4 Financial5 77.88% 79.98% 75.35% 76.57% 5 Transport6 88.43% 127.45% 99.48% 82.83% 6 Transport7 33.17% -44.85% -53.09% 30.35% 7 Transport8 25.02% -69.93% -103.08% 16.35% 8 Chemical9 98.14% 240.15% 187.06% 95.45% 9 Oil

10 53.36% 8.66% -1.35% 49.48% 10 Mining11 59.47% 24.61% 23.61% 59.09% 11 Transport12 54.72% 12.17% 6.27% 52.44% 12 Transport13 80.91% 91.50% 87.93% 80.01% 13 Transport14 42.58% -19.21% -19.62% 42.42% 14 Oil15 80.71% 90.68% 55.93% 70.59% 15 Oil16 33.58% -43.68% -41.82% 34.23% 16 Transport17 87.32% 121.16% 85.56% 79.39% 17 Chemical18 33.48% -43.95% -64.23% 26.76% 18 Financial19 32.60% -46.48% -57.76% 28.81% 19 Mining20 20.22% -87.04% -93.62% 18.56% 20 Mining21 78.13% 80.90% 58.18% 71.32% 21 Chemical22 95.77% 191.49% 187.48% 95.49% 22 Oil23 99.78% 365.65% 161.81% 93.16% 23 Chemical24 37.52% -32.69% -78.58% 22.51% 24 Financial25 28.82% -57.74% -68.19% 25.54% 25 Financial26 60.42% 27.14% 0.18% 50.07% 26 Oil27 21.62% -81.79% -97.07% 17.73% 27 Chemical28 74.76% 69.18% 12.57% 54.88% 28 Chemical29 38.95% -28.83% -30.87% 38.19% 29 Oil30 13.12% -118.77% -129.51% 11.22% 30 Chemical31 2.87% -214.73% -190.00% 4.33% 31 Transport32 97.10% 214.10% 87.79% 79.97% 32 Financial33 46.26% -9.62% -48.73% 31.83% 33 Chemical34 33.03% -45.23% -47.46% 32.26% 34 Oil35 65.52% 41.11% -26.96% 39.65% 35 Chemical36 35.71% -37.68% -49.53% 31.55% 36 Chemical37 16.05% -104.42% -104.02% 16.14% 37 Oil38 76.08% 73.66% 24.24% 59.33% 38 Oil39 59.15% 23.75% 18.11% 57.01% 39 Mining40 17.78% -96.87% -117.04% 13.45% 40 Financial41 68.76% 50.44% 46.15% 67.28% 41 Transport42 9.79% -138.61% -151.11% 8.08% 42 Chemical43 13.42% -117.20% -116.83% 13.49% 43 Oil

44 36.20% -36.32% -64.47% 26.68% 44 Chemical45 26.56% -64.86% -86.53% 20.36% 45 Mining46 66.85% 44.91% 20.77% 58.02% 46 Mining47 87.91% 124.43% 84.31% 79.06% 47 Mining48 74.99% 69.94% 20.79% 58.03% 48 Chemical49 73.05% 63.62% 61.00% 72.23% 49 Transport50 90.86% 143.15% 120.25% 87.16% 50 Transport51 56.48% 16.74% -71.02% 24.69% 51 Chemical52 54.80% 12.37% 13.71% 55.32% 52 Transport53 79.31% 85.25% 74.23% 76.25% 53 Transport54 37.67% -32.28% -34.74% 36.77% 54 Mining55 86.54% 117.00% 104.82% 84.04% 55 Oil56 59.20% 23.90% 10.57% 54.10% 56 Chemical57 11.30% -129.02% -86.25% 20.43% 57 Oil58 71.97% 60.19% -17.67% 43.16% 58 Chemical59 71.57% 58.94% 49.40% 68.40% 59 Transport60 25.50% -68.31% -63.28% 27.05% 60 Transport61 64.09% 37.12% 14.55% 55.64% 61 Chemical62 32.39% -47.08% -63.10% 27.11% 62 Mining63 58.97% 23.28% -74.06% 23.80% 63 Chemical64 30.25% -53.41% -61.25% 27.69% 64 Chemical65 12.15% -124.08% -118.45% 13.18% 65 Oil66 52.84% 7.31% 18.11% 57.00% 66 Transport67 35.27% -38.91% -58.60% 28.54% 67 Financial68 35.18% -39.17% -100.09% 17.02% 68 Financial69 48.26% -4.47% -16.42% 43.64% 69 Oil70 54.09% 10.53% -24.11% 40.72% 70 Chemical71 5.28% -177.96% -177.08% 5.35% 71 Transport72 89.17% 131.88% 109.93% 85.13% 72 Transport73 3.15% -209.18% -208.54% 3.18% 73 Oil74 54.32% 11.14% -41.96% 34.18% 74 Financial75 47.75% -5.79% -12.97% 44.97% 75 Mining76 92.70% 157.64% 116.85% 86.52% 76 Chemical77 66.56% 44.08% 11.88% 54.61% 77 Financial78 13.38% -117.40% -139.31% 9.69% 78 Chemical79 11.17% -129.79% -162.59% 6.75% 79 Financial80 91.28% 146.22% 70.42% 75.13% 80 Mining81 18.82% -92.58% -144.55% 8.95% 81 Financial82 91.40% 147.11% 137.33% 90.02% 82 Oil83 68.62% 50.03% 14.52% 55.63% 83 Chemical84 56.62% 17.10% -98.79% 17.33% 84 Financial85 72.04% 60.41% 57.20% 71.00% 85 Mining86 41.21% -22.81% -9.85% 46.17% 86 Transport87 48.56% -3.69% -16.04% 43.79% 87 Oil88 17.00% -100.21% -71.71% 24.49% 88 Oil89 2.82% -215.60% -216.23% 2.79% 89 Oil90 46.75% -8.37% -9.73% 46.22% 90 Oil91 22.61% -78.23% -93.21% 18.66% 91 Chemical92 26.44% -65.25% -94.03% 18.46% 92 Chemical93 39.74% -26.72% -56.39% 29.26% 93 Chemical94 79.97% 87.80% -57.18% 29.00% 94 Financial95 17.01% -100.17% -54.37% 29.93% 95 Oil96 0.78% -290.96% -194.11% 4.05% 96 Mining97 3.72% -199.18% -213.51% 2.93% 97 Chemical

98 40.06% -25.86% -48.91% 31.76% 98 Chemical99 72.28% 61.16% 64.81% 73.43% 99 Transport

100 57.08% 18.31% 6.64% 52.58% 100 Mining

6.36: This worksheet runs a single antithetic scenario to calculate the PV of payments to be made under the CDS

Maturity of Package 5Run Simulation? Yes - Press F9

Rating Principal PD LGD Maturity Default??

BB 30 8.81% 48.87% 6A 50 0.52% 61.48% 9

BB 50 8.81% 48.87% 5BB 10 4.50% 61.48% 3

A 30 0.52% 48.87% 9BB 50 8.81% 46.20% 8BB 50 8.81% 46.20% 10

BBB 50 1.84% 46.20% 8A 50 0.52% 46.20% 6A 10 0.52% 46.20% 9

BBB 30 1.84% 61.48% 8BB 30 8.81% 46.20% 10BB 10 8.81% 48.87% 10

A 10 0.52% 48.87% 7BBB 30 1.84% 48.87% 7

BB 10 8.81% 46.20% 8BB 30 8.81% 46.20% 8

A 10 0.52% 46.20% 10BBB 10 1.84% 48.87% 6

BB 50 8.81% 48.87% 9BB 10 8.81% 46.20% 9

BBB 30 1.84% 61.48% 8BBB 10 0.74% 46.20% 3BBB 50 1.84% 61.48% 9BBB 10 1.84% 61.48% 6

BB 10 8.81% 48.87% 10A 10 0.33% 48.87% 4A 30 0.52% 48.87% 9

BBB 30 1.84% 48.87% 7A 30 0.33% 48.87% 4A 30 0.52% 46.20% 8A 50 0.52% 61.48% 8

BB 30 8.81% 46.20% 8BBB 30 1.84% 48.87% 8BBB 50 1.23% 48.87% 4BBB 30 1.84% 48.87% 10

A 10 0.52% 61.48% 7BB 30 8.81% 61.48% 10BB 50 8.81% 48.87% 9

BBB 10 1.84% 48.87% 8BBB 50 1.84% 46.20% 6

A 30 0.52% 46.20% 9A 30 0.52% 46.20% 8

BB 10 6.58% 61.48% 4BBB 30 1.84% 48.87% 8

A 50 0.52% 46.20% 9BB 10 8.81% 61.48% 5BB 50 8.81% 46.20% 10BB 50 6.58% 46.20% 4BB 30 4.50% 48.87% 3

A 30 0.52% 48.87% 5BBB 10 1.23% 67.26% 4

BB 10 8.81% 46.20% 6BB 30 4.50% 46.20% 3

A 50 0.33% 61.48% 4BB 50 8.81% 61.48% 7

A 50 0.52% 46.20% 5BB 10 8.81% 46.20% 5BB 50 8.81% 46.20% 5

A 50 0.52% 46.20% 10BBB 50 1.84% 46.20% 9BBB 50 1.84% 48.87% 6

A 30 0.52% 46.20% 5A 50 0.52% 46.20% 10

BB 30 8.81% 46.20% 6BBB 30 1.84% 48.87% 8BBB 50 1.84% 48.87% 5

BB 30 8.81% 61.48% 7A 50 0.52% 46.20% 5

BBB 10 0.74% 61.48% 3BB 30 8.81% 46.20% 5 Yes

BBB 50 1.84% 48.87% 7BBB 50 1.84% 46.20% 6

A 50 0.52% 46.20% 7BBB 30 1.84% 46.20% 6BBB 10 1.84% 48.87% 10

BB 50 8.81% 61.48% 9A 50 0.52% 46.20% 5

BBB 30 1.23% 46.20% 4BBB 50 1.84% 46.20% 8

A 50 0.52% 48.87% 7BB 50 8.81% 46.20% 10

BBB 50 1.23% 48.87% 4A 10 0.52% 48.87% 9

BB 10 6.58% 46.20% 4BBB 50 1.84% 48.87% 9

A 30 0.18% 46.20% 3BB 50 8.81% 48.87% 7

BBB 10 1.84% 48.87% 10A 50 0.52% 46.20% 7A 30 0.52% 61.48% 5

BB 10 8.81% 46.20% 9A 50 0.52% 46.20% 9

BB 50 8.81% 48.87% 10BB 10 8.81% 61.48% 5

A 30 0.52% 46.20% 10BB 10 6.58% 46.20% 4 Yes

BB 30 8.81% 46.20% 7BB 30 8.81% 48.87% 10BB 10 4.50% 48.87% 3

When? PV Payments(Start of period)

Total = 0.52%

3.25 12.53

2.00 4.37

6.37: This worksheet will run a range of scenarios (currently 500 normal and 500 antithetic), build a Loss Distribution and fit a Weibull distribution

Results of Simulation When a default occursmin 0.00%max 0.52%

average 0.26% 0.52%Expected premium 5.70

st dev 0.26% 0.00%Prob of Loss 50.00%

count 500 500Defaulting scenarios 0 500

Normal Anithetic Normal Anithetic0.000% 0.525%

1 0.000% 0.525% 0.0 0.02 0.000% 0.525% 0.0 0.03 0.000% 0.525% 0.0 0.04 0.000% 0.525% 0.0 0.05 0.000% 0.525% 0.0 0.06 0.000% 0.525% 0.0 0.07 0.000% 0.525% 0.0 0.08 0.000% 0.525% 0.0 0.09 0.000% 0.525% 0.0 0.0

10 0.000% 0.525% 0.0 0.011 0.000% 0.525% 0.0 0.012 0.000% 0.525% 0.0 0.013 0.000% 0.525% 0.0 0.014 0.000% 0.525% 0.0 0.015 0.000% 0.525% 0.0 0.016 0.000% 0.525% 0.0 0.017 0.000% 0.525% 0.0 0.018 0.000% 0.525% 0.0 0.019 0.000% 0.525% 0.0 0.020 0.000% 0.525% 0.0 0.021 0.000% 0.525% 0.0 0.022 0.000% 0.525% 0.0 0.023 0.000% 0.525% 0.0 0.024 0.000% 0.525% 0.0 0.025 0.000% 0.525% 0.0 0.026 0.000% 0.525% 0.0 0.027 0.000% 0.525% 0.0 0.028 0.000% 0.525% 0.0 0.029 0.000% 0.525% 0.0 0.030 0.000% 0.525% 0.0 0.031 0.000% 0.525% 0.0 0.032 0.000% 0.525% 0.0 0.033 0.000% 0.525% 0.0 0.034 0.000% 0.525% 0.0 0.035 0.000% 0.525% 0.0 0.036 0.000% 0.525% 0.0 0.037 0.000% 0.525% 0.0 0.038 0.000% 0.525% 0.0 0.0

39 0.000% 0.525% 0.0 0.040 0.000% 0.525% 0.0 0.041 0.000% 0.525% 0.0 0.042 0.000% 0.525% 0.0 0.043 0.000% 0.525% 0.0 0.044 0.000% 0.525% 0.0 0.045 0.000% 0.525% 0.0 0.046 0.000% 0.525% 0.0 0.047 0.000% 0.525% 0.0 0.048 0.000% 0.525% 0.0 0.049 0.000% 0.525% 0.0 0.050 0.000% 0.525% 0.0 0.051 0.000% 0.525% 0.0 0.052 0.000% 0.525% 0.0 0.053 0.000% 0.525% 0.0 0.054 0.000% 0.525% 0.0 0.055 0.000% 0.525% 0.0 0.056 0.000% 0.525% 0.0 0.057 0.000% 0.525% 0.0 0.058 0.000% 0.525% 0.0 0.059 0.000% 0.525% 0.0 0.060 0.000% 0.525% 0.0 0.061 0.000% 0.525% 0.0 0.062 0.000% 0.525% 0.0 0.063 0.000% 0.525% 0.0 0.064 0.000% 0.525% 0.0 0.065 0.000% 0.525% 0.0 0.066 0.000% 0.525% 0.0 0.067 0.000% 0.525% 0.0 0.068 0.000% 0.525% 0.0 0.069 0.000% 0.525% 0.0 0.070 0.000% 0.525% 0.0 0.071 0.000% 0.525% 0.0 0.072 0.000% 0.525% 0.0 0.073 0.000% 0.525% 0.0 0.074 0.000% 0.525% 0.0 0.075 0.000% 0.525% 0.0 0.076 0.000% 0.525% 0.0 0.077 0.000% 0.525% 0.0 0.078 0.000% 0.525% 0.0 0.079 0.000% 0.525% 0.0 0.080 0.000% 0.525% 0.0 0.081 0.000% 0.525% 0.0 0.082 0.000% 0.525% 0.0 0.083 0.000% 0.525% 0.0 0.084 0.000% 0.525% 0.0 0.085 0.000% 0.525% 0.0 0.086 0.000% 0.525% 0.0 0.087 0.000% 0.525% 0.0 0.088 0.000% 0.525% 0.0 0.089 0.000% 0.525% 0.0 0.090 0.000% 0.525% 0.0 0.091 0.000% 0.525% 0.0 0.092 0.000% 0.525% 0.0 0.0

93 0.000% 0.525% 0.0 0.094 0.000% 0.525% 0.0 0.095 0.000% 0.525% 0.0 0.096 0.000% 0.525% 0.0 0.097 0.000% 0.525% 0.0 0.098 0.000% 0.525% 0.0 0.099 0.000% 0.525% 0.0 0.0

100 0.000% 0.525% 0.0 0.0101 0.000% 0.525% 0.0 0.0102 0.000% 0.525% 0.0 0.0103 0.000% 0.525% 0.0 0.0104 0.000% 0.525% 0.0 0.0105 0.000% 0.525% 0.0 0.0106 0.000% 0.525% 0.0 0.0107 0.000% 0.525% 0.0 0.0108 0.000% 0.525% 0.0 0.0109 0.000% 0.525% 0.0 0.0110 0.000% 0.525% 0.0 0.0111 0.000% 0.525% 0.0 0.0112 0.000% 0.525% 0.0 0.0113 0.000% 0.525% 0.0 0.0114 0.000% 0.525% 0.0 0.0115 0.000% 0.525% 0.0 0.0116 0.000% 0.525% 0.0 0.0117 0.000% 0.525% 0.0 0.0118 0.000% 0.525% 0.0 0.0119 0.000% 0.525% 0.0 0.0120 0.000% 0.525% 0.0 0.0121 0.000% 0.525% 0.0 0.0122 0.000% 0.525% 0.0 0.0123 0.000% 0.525% 0.0 0.0124 0.000% 0.525% 0.0 0.0125 0.000% 0.525% 0.0 0.0126 0.000% 0.525% 0.0 0.0127 0.000% 0.525% 0.0 0.0128 0.000% 0.525% 0.0 0.0129 0.000% 0.525% 0.0 0.0130 0.000% 0.525% 0.0 0.0131 0.000% 0.525% 0.0 0.0132 0.000% 0.525% 0.0 0.0133 0.000% 0.525% 0.0 0.0134 0.000% 0.525% 0.0 0.0135 0.000% 0.525% 0.0 0.0136 0.000% 0.525% 0.0 0.0137 0.000% 0.525% 0.0 0.0138 0.000% 0.525% 0.0 0.0139 0.000% 0.525% 0.0 0.0140 0.000% 0.525% 0.0 0.0141 0.000% 0.525% 0.0 0.0142 0.000% 0.525% 0.0 0.0143 0.000% 0.525% 0.0 0.0144 0.000% 0.525% 0.0 0.0145 0.000% 0.525% 0.0 0.0146 0.000% 0.525% 0.0 0.0

147 0.000% 0.525% 0.0 0.0148 0.000% 0.525% 0.0 0.0149 0.000% 0.525% 0.0 0.0150 0.000% 0.525% 0.0 0.0151 0.000% 0.525% 0.0 0.0152 0.000% 0.525% 0.0 0.0153 0.000% 0.525% 0.0 0.0154 0.000% 0.525% 0.0 0.0155 0.000% 0.525% 0.0 0.0156 0.000% 0.525% 0.0 0.0157 0.000% 0.525% 0.0 0.0158 0.000% 0.525% 0.0 0.0159 0.000% 0.525% 0.0 0.0160 0.000% 0.525% 0.0 0.0161 0.000% 0.525% 0.0 0.0162 0.000% 0.525% 0.0 0.0163 0.000% 0.525% 0.0 0.0164 0.000% 0.525% 0.0 0.0165 0.000% 0.525% 0.0 0.0166 0.000% 0.525% 0.0 0.0167 0.000% 0.525% 0.0 0.0168 0.000% 0.525% 0.0 0.0169 0.000% 0.525% 0.0 0.0170 0.000% 0.525% 0.0 0.0171 0.000% 0.525% 0.0 0.0172 0.000% 0.525% 0.0 0.0173 0.000% 0.525% 0.0 0.0174 0.000% 0.525% 0.0 0.0175 0.000% 0.525% 0.0 0.0176 0.000% 0.525% 0.0 0.0177 0.000% 0.525% 0.0 0.0178 0.000% 0.525% 0.0 0.0179 0.000% 0.525% 0.0 0.0180 0.000% 0.525% 0.0 0.0181 0.000% 0.525% 0.0 0.0182 0.000% 0.525% 0.0 0.0183 0.000% 0.525% 0.0 0.0184 0.000% 0.525% 0.0 0.0185 0.000% 0.525% 0.0 0.0186 0.000% 0.525% 0.0 0.0187 0.000% 0.525% 0.0 0.0188 0.000% 0.525% 0.0 0.0189 0.000% 0.525% 0.0 0.0190 0.000% 0.525% 0.0 0.0191 0.000% 0.525% 0.0 0.0192 0.000% 0.525% 0.0 0.0193 0.000% 0.525% 0.0 0.0194 0.000% 0.525% 0.0 0.0195 0.000% 0.525% 0.0 0.0196 0.000% 0.525% 0.0 0.0197 0.000% 0.525% 0.0 0.0198 0.000% 0.525% 0.0 0.0199 0.000% 0.525% 0.0 0.0200 0.000% 0.525% 0.0 0.0

201 0.000% 0.525% 0.0 0.0202 0.000% 0.525% 0.0 0.0203 0.000% 0.525% 0.0 0.0204 0.000% 0.525% 0.0 0.0205 0.000% 0.525% 0.0 0.0206 0.000% 0.525% 0.0 0.0207 0.000% 0.525% 0.0 0.0208 0.000% 0.525% 0.0 0.0209 0.000% 0.525% 0.0 0.0210 0.000% 0.525% 0.0 0.0211 0.000% 0.525% 0.0 0.0212 0.000% 0.525% 0.0 0.0213 0.000% 0.525% 0.0 0.0214 0.000% 0.525% 0.0 0.0215 0.000% 0.525% 0.0 0.0216 0.000% 0.525% 0.0 0.0217 0.000% 0.525% 0.0 0.0218 0.000% 0.525% 0.0 0.0219 0.000% 0.525% 0.0 0.0220 0.000% 0.525% 0.0 0.0221 0.000% 0.525% 0.0 0.0222 0.000% 0.525% 0.0 0.0223 0.000% 0.525% 0.0 0.0224 0.000% 0.525% 0.0 0.0225 0.000% 0.525% 0.0 0.0226 0.000% 0.525% 0.0 0.0227 0.000% 0.525% 0.0 0.0228 0.000% 0.525% 0.0 0.0229 0.000% 0.525% 0.0 0.0230 0.000% 0.525% 0.0 0.0231 0.000% 0.525% 0.0 0.0232 0.000% 0.525% 0.0 0.0233 0.000% 0.525% 0.0 0.0234 0.000% 0.525% 0.0 0.0235 0.000% 0.525% 0.0 0.0236 0.000% 0.525% 0.0 0.0237 0.000% 0.525% 0.0 0.0238 0.000% 0.525% 0.0 0.0239 0.000% 0.525% 0.0 0.0240 0.000% 0.525% 0.0 0.0241 0.000% 0.525% 0.0 0.0242 0.000% 0.525% 0.0 0.0243 0.000% 0.525% 0.0 0.0244 0.000% 0.525% 0.0 0.0245 0.000% 0.525% 0.0 0.0246 0.000% 0.525% 0.0 0.0247 0.000% 0.525% 0.0 0.0248 0.000% 0.525% 0.0 0.0249 0.000% 0.525% 0.0 0.0250 0.000% 0.525% 0.0 0.0251 0.000% 0.525% 0.0 0.0252 0.000% 0.525% 0.0 0.0253 0.000% 0.525% 0.0 0.0254 0.000% 0.525% 0.0 0.0

255 0.000% 0.525% 0.0 0.0256 0.000% 0.525% 0.0 0.0257 0.000% 0.525% 0.0 0.0258 0.000% 0.525% 0.0 0.0259 0.000% 0.525% 0.0 0.0260 0.000% 0.525% 0.0 0.0261 0.000% 0.525% 0.0 0.0262 0.000% 0.525% 0.0 0.0263 0.000% 0.525% 0.0 0.0264 0.000% 0.525% 0.0 0.0265 0.000% 0.525% 0.0 0.0266 0.000% 0.525% 0.0 0.0267 0.000% 0.525% 0.0 0.0268 0.000% 0.525% 0.0 0.0269 0.000% 0.525% 0.0 0.0270 0.000% 0.525% 0.0 0.0271 0.000% 0.525% 0.0 0.0272 0.000% 0.525% 0.0 0.0273 0.000% 0.525% 0.0 0.0274 0.000% 0.525% 0.0 0.0275 0.000% 0.525% 0.0 0.0276 0.000% 0.525% 0.0 0.0277 0.000% 0.525% 0.0 0.0278 0.000% 0.525% 0.0 0.0279 0.000% 0.525% 0.0 0.0280 0.000% 0.525% 0.0 0.0281 0.000% 0.525% 0.0 0.0282 0.000% 0.525% 0.0 0.0283 0.000% 0.525% 0.0 0.0284 0.000% 0.525% 0.0 0.0285 0.000% 0.525% 0.0 0.0286 0.000% 0.525% 0.0 0.0287 0.000% 0.525% 0.0 0.0288 0.000% 0.525% 0.0 0.0289 0.000% 0.525% 0.0 0.0290 0.000% 0.525% 0.0 0.0291 0.000% 0.525% 0.0 0.0292 0.000% 0.525% 0.0 0.0293 0.000% 0.525% 0.0 0.0294 0.000% 0.525% 0.0 0.0295 0.000% 0.525% 0.0 0.0296 0.000% 0.525% 0.0 0.0297 0.000% 0.525% 0.0 0.0298 0.000% 0.525% 0.0 0.0299 0.000% 0.525% 0.0 0.0300 0.000% 0.525% 0.0 0.0301 0.000% 0.525% 0.0 0.0302 0.000% 0.525% 0.0 0.0303 0.000% 0.525% 0.0 0.0304 0.000% 0.525% 0.0 0.0305 0.000% 0.525% 0.0 0.0306 0.000% 0.525% 0.0 0.0307 0.000% 0.525% 0.0 0.0308 0.000% 0.525% 0.0 0.0

309 0.000% 0.525% 0.0 0.0310 0.000% 0.525% 0.0 0.0311 0.000% 0.525% 0.0 0.0312 0.000% 0.525% 0.0 0.0313 0.000% 0.525% 0.0 0.0314 0.000% 0.525% 0.0 0.0315 0.000% 0.525% 0.0 0.0316 0.000% 0.525% 0.0 0.0317 0.000% 0.525% 0.0 0.0318 0.000% 0.525% 0.0 0.0319 0.000% 0.525% 0.0 0.0320 0.000% 0.525% 0.0 0.0321 0.000% 0.525% 0.0 0.0322 0.000% 0.525% 0.0 0.0323 0.000% 0.525% 0.0 0.0324 0.000% 0.525% 0.0 0.0325 0.000% 0.525% 0.0 0.0326 0.000% 0.525% 0.0 0.0327 0.000% 0.525% 0.0 0.0328 0.000% 0.525% 0.0 0.0329 0.000% 0.525% 0.0 0.0330 0.000% 0.525% 0.0 0.0331 0.000% 0.525% 0.0 0.0332 0.000% 0.525% 0.0 0.0333 0.000% 0.525% 0.0 0.0334 0.000% 0.525% 0.0 0.0335 0.000% 0.525% 0.0 0.0336 0.000% 0.525% 0.0 0.0337 0.000% 0.525% 0.0 0.0338 0.000% 0.525% 0.0 0.0339 0.000% 0.525% 0.0 0.0340 0.000% 0.525% 0.0 0.0341 0.000% 0.525% 0.0 0.0342 0.000% 0.525% 0.0 0.0343 0.000% 0.525% 0.0 0.0344 0.000% 0.525% 0.0 0.0345 0.000% 0.525% 0.0 0.0346 0.000% 0.525% 0.0 0.0347 0.000% 0.525% 0.0 0.0348 0.000% 0.525% 0.0 0.0349 0.000% 0.525% 0.0 0.0350 0.000% 0.525% 0.0 0.0351 0.000% 0.525% 0.0 0.0352 0.000% 0.525% 0.0 0.0353 0.000% 0.525% 0.0 0.0354 0.000% 0.525% 0.0 0.0355 0.000% 0.525% 0.0 0.0356 0.000% 0.525% 0.0 0.0357 0.000% 0.525% 0.0 0.0358 0.000% 0.525% 0.0 0.0359 0.000% 0.525% 0.0 0.0360 0.000% 0.525% 0.0 0.0361 0.000% 0.525% 0.0 0.0362 0.000% 0.525% 0.0 0.0

363 0.000% 0.525% 0.0 0.0364 0.000% 0.525% 0.0 0.0365 0.000% 0.525% 0.0 0.0366 0.000% 0.525% 0.0 0.0367 0.000% 0.525% 0.0 0.0368 0.000% 0.525% 0.0 0.0369 0.000% 0.525% 0.0 0.0370 0.000% 0.525% 0.0 0.0371 0.000% 0.525% 0.0 0.0372 0.000% 0.525% 0.0 0.0373 0.000% 0.525% 0.0 0.0374 0.000% 0.525% 0.0 0.0375 0.000% 0.525% 0.0 0.0376 0.000% 0.525% 0.0 0.0377 0.000% 0.525% 0.0 0.0378 0.000% 0.525% 0.0 0.0379 0.000% 0.525% 0.0 0.0380 0.000% 0.525% 0.0 0.0381 0.000% 0.525% 0.0 0.0382 0.000% 0.525% 0.0 0.0383 0.000% 0.525% 0.0 0.0384 0.000% 0.525% 0.0 0.0385 0.000% 0.525% 0.0 0.0386 0.000% 0.525% 0.0 0.0387 0.000% 0.525% 0.0 0.0388 0.000% 0.525% 0.0 0.0389 0.000% 0.525% 0.0 0.0390 0.000% 0.525% 0.0 0.0391 0.000% 0.525% 0.0 0.0392 0.000% 0.525% 0.0 0.0393 0.000% 0.525% 0.0 0.0394 0.000% 0.525% 0.0 0.0395 0.000% 0.525% 0.0 0.0396 0.000% 0.525% 0.0 0.0397 0.000% 0.525% 0.0 0.0398 0.000% 0.525% 0.0 0.0399 0.000% 0.525% 0.0 0.0400 0.000% 0.525% 0.0 0.0401 0.000% 0.525% 0.0 0.0402 0.000% 0.525% 0.0 0.0403 0.000% 0.525% 0.0 0.0404 0.000% 0.525% 0.0 0.0405 0.000% 0.525% 0.0 0.0406 0.000% 0.525% 0.0 0.0407 0.000% 0.525% 0.0 0.0408 0.000% 0.525% 0.0 0.0409 0.000% 0.525% 0.0 0.0410 0.000% 0.525% 0.0 0.0411 0.000% 0.525% 0.0 0.0412 0.000% 0.525% 0.0 0.0413 0.000% 0.525% 0.0 0.0414 0.000% 0.525% 0.0 0.0415 0.000% 0.525% 0.0 0.0416 0.000% 0.525% 0.0 0.0

417 0.000% 0.525% 0.0 0.0418 0.000% 0.525% 0.0 0.0419 0.000% 0.525% 0.0 0.0420 0.000% 0.525% 0.0 0.0421 0.000% 0.525% 0.0 0.0422 0.000% 0.525% 0.0 0.0423 0.000% 0.525% 0.0 0.0424 0.000% 0.525% 0.0 0.0425 0.000% 0.525% 0.0 0.0426 0.000% 0.525% 0.0 0.0427 0.000% 0.525% 0.0 0.0428 0.000% 0.525% 0.0 0.0429 0.000% 0.525% 0.0 0.0430 0.000% 0.525% 0.0 0.0431 0.000% 0.525% 0.0 0.0432 0.000% 0.525% 0.0 0.0433 0.000% 0.525% 0.0 0.0434 0.000% 0.525% 0.0 0.0435 0.000% 0.525% 0.0 0.0436 0.000% 0.525% 0.0 0.0437 0.000% 0.525% 0.0 0.0438 0.000% 0.525% 0.0 0.0439 0.000% 0.525% 0.0 0.0440 0.000% 0.525% 0.0 0.0441 0.000% 0.525% 0.0 0.0442 0.000% 0.525% 0.0 0.0443 0.000% 0.525% 0.0 0.0444 0.000% 0.525% 0.0 0.0445 0.000% 0.525% 0.0 0.0446 0.000% 0.525% 0.0 0.0447 0.000% 0.525% 0.0 0.0448 0.000% 0.525% 0.0 0.0449 0.000% 0.525% 0.0 0.0450 0.000% 0.525% 0.0 0.0451 0.000% 0.525% 0.0 0.0452 0.000% 0.525% 0.0 0.0453 0.000% 0.525% 0.0 0.0454 0.000% 0.525% 0.0 0.0455 0.000% 0.525% 0.0 0.0456 0.000% 0.525% 0.0 0.0457 0.000% 0.525% 0.0 0.0458 0.000% 0.525% 0.0 0.0459 0.000% 0.525% 0.0 0.0460 0.000% 0.525% 0.0 0.0461 0.000% 0.525% 0.0 0.0462 0.000% 0.525% 0.0 0.0463 0.000% 0.525% 0.0 0.0464 0.000% 0.525% 0.0 0.0465 0.000% 0.525% 0.0 0.0466 0.000% 0.525% 0.0 0.0467 0.000% 0.525% 0.0 0.0468 0.000% 0.525% 0.0 0.0469 0.000% 0.525% 0.0 0.0470 0.000% 0.525% 0.0 0.0

471 0.000% 0.525% 0.0 0.0472 0.000% 0.525% 0.0 0.0473 0.000% 0.525% 0.0 0.0474 0.000% 0.525% 0.0 0.0475 0.000% 0.525% 0.0 0.0476 0.000% 0.525% 0.0 0.0477 0.000% 0.525% 0.0 0.0478 0.000% 0.525% 0.0 0.0479 0.000% 0.525% 0.0 0.0480 0.000% 0.525% 0.0 0.0481 0.000% 0.525% 0.0 0.0482 0.000% 0.525% 0.0 0.0483 0.000% 0.525% 0.0 0.0484 0.000% 0.525% 0.0 0.0485 0.000% 0.525% 0.0 0.0486 0.000% 0.525% 0.0 0.0487 0.000% 0.525% 0.0 0.0488 0.000% 0.525% 0.0 0.0489 0.000% 0.525% 0.0 0.0490 0.000% 0.525% 0.0 0.0491 0.000% 0.525% 0.0 0.0492 0.000% 0.525% 0.0 0.0493 0.000% 0.525% 0.0 0.0494 0.000% 0.525% 0.0 0.0495 0.000% 0.525% 0.0 0.0496 0.000% 0.525% 0.0 0.0497 0.000% 0.525% 0.0 0.0498 0.000% 0.525% 0.0 0.0499 0.000% 0.525% 0.0 0.0500 0.000% 0.525% 0.0 0.0

6.37: This worksheet will run a range of scenarios (currently 500 normal and 500 antithetic), build a Loss Distribution and fit a Weibull distribution

no. of buckets 10

size of bucket 0.06% Frequency Frequencyadjusted for

zero obs.Buckets mid-pts

0.00% 0.00% 0.0% 50.000%0.06% 0.03% 0.0% 0.000% 0.000%0.12% 0.09% 0.0% 0.000% 0.000%0.17% 0.15% 0.0% 0.000% 0.000%0.23% 0.20% 0.0% 0.000% 0.000%0.29% 0.26% 0.0% 0.000% 0.000%0.35% 0.32% 0.0% 0.000% 0.000%0.41% 0.38% 0.0% 0.000% 0.000%0.47% 0.44% 0.0% 0.000% 0.000%0.52% 0.50% 0.0% 50.000% 100.000%

6.37: This worksheet will run a range of scenarios (currently 500 normal and 500 antithetic), build a Loss Distribution and fit a Weibull distribution

Changing correlation 0%

Fitting a Weibull distribution

Weibullalpha = 1.0681beta = 0.0054

var/mean^2 estimate 0.8777error -0.1233

8.889% mean 0.018.842% st dev 0.008.258%7.594%6.926%6.285%5.682%5.122%4.607%

(Set Error = 0 by changing alpha)

0.00% 0.03% 0.09% 0.15% 0.20% 0.26% 0.32% 0.38% 0.44% 0.50%0.000%

5.000%

10.000%

15.000%

20.000%

25.000%

30.000%

35.000%

40.000%

45.000%

50.000%

55.000%Loss distribution

Determing the attachment points

Prob of AP AP Prob ofImpairment (% losses) (% losses) Impairment

0.10% 3.289% 14.842% 0.00%1.84% 1.970% 8.138% 0.00%

20.00% 0.841% 3.000% 0.19%

0.00% 0.03% 0.09% 0.15% 0.20% 0.26% 0.32% 0.38% 0.44% 0.50%0.000%

5.000%

10.000%

15.000%

20.000%

25.000%

30.000%

35.000%

40.000%

45.000%

50.000%

55.000%Loss distribution

0.00% 0.03% 0.09% 0.15% 0.20% 0.26% 0.32% 0.38% 0.44% 0.50%0.000%

5.000%

10.000%

15.000%

20.000%

25.000%

30.000%

35.000%

40.000%

45.000%

50.000%

55.000%Loss distribution