Transition Matrix

Rating Transition Matrix (2013-2017)

AAA AA A BBB BB B CCC CC C D
AAA 100%  0.00%  0.00%  0.00% 0.00%  0.00% 0.00%  0.00% 0.00% 0.00%
AA 7.27% 80.00%  10.91%  0.00%  0.00%  1.82%  0.00%  0.00%  0.00%  0.00%
A  0.00% 7.82% 85.60% 5.35%  0.82% 0.00%  0.41%  0.00%  0.00%  0.00%
BBB  0.00% 0.34% 15.99% 71.43% 11.22%  0.68% 0.34%  0.00%  0.00%  0.00%
BB  0.00%  0.00%  0.00%  15.38% 76.92% 7.70%  0.00%  0.00%  0.00%  0.00%
B  0.00%  0.00%  0.00%  0.00% 0.00% 50.00%  50.00%  0.00%  0.00%  0.00%
CCC  0.00%  0.00%  0.00%  0.00%  0.00%  0.00% 0.00%  0.00%  0.00%  0.00%
CC  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00% 0.00%  0.00%  0.00%
C  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00%  0.00% 0.00%  0.00%
D  0.00% 0.00%  0.00%  0.00%  0.00% 0.00%  0.00% 0.00%  0.00% 0.00%