Transition Matrix

Rating Transition Matrix (2013-2016)

AAA AA A BBB BB B CCC CC C D Total
AAA 100%  0.00%  0.00%  0.00% 0.00%  0.00% 0.00%  0.00% 0.00% 0.00% 100
AA  3.64% 83.64%  10.9%  0.00%  0.00%  1.82%  0.00%  0.00%  0.00%  0.00% 100
A  0.00% 6.11% 85.11% 7.63%  0.00%  1.15%  0.00%  0.00%  0.00%  0.00% 100
BBB  0.00%  0.00% 4.15% 69.43% 25.61%  0.81%  0.00%  0.00%  0.00%  0.00% 100
BB  0.00%  0.00%  0.00%  10.67% 70.67%  17.33%  1.33%  0.00%  0.00%  0.00% 100
B  0.00%  0.00%  0.00%  0.00%  72.73% 9.09%  18.18%  0.00%  0.00%  0.00% 100
CCC  0.00%  0.00%  0.00%  0.00%  0.00%  0.00% 100%  0.00%  0.00%  0.00% 100
CC  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00% 100%  0.00%  0.00% 100
C  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00% 100%  0.00% 100
D  0.00% 0.00%  0.00%  0.00%  0.00% 0.00%  0.00% 0.00%  0.00% 0.00%