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Benchmark Protection
Margin Rating
|
Max. Ten
Year Default Rate
|
Public Rating
Equivalent*
|
|
01-Extraordinary
|
0.10%
|
Aaa/AAA
|
|
02-Substantial
|
0.50%
|
Aa/AA
|
|
03-Moderate
|
1.00%
|
A/A
|
|
04-Less Than Moderate
|
2.50%
|
Baa/BBB,
|
|
05-Thin
|
10.0%
|
Ba/BB, B/B
|
|
06-Less Than Thin
|
25.0%
|
Caa/CCC, Ca/CC, C/C
|
*Definitions employed by the public rating agencies do not refer to any statistical probability of default.
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