Table: All Debtors Are Not Alike
Defaults on investment grade bonds--those rated BBB- or better--don't happen very often
ORIGINAL DEFAULT RATING RATE*
AAA 0.52% AA 1.31 A 2.32 BBB 6.64 BB 19.52 B 35.76 CCC 54.38
* Percentage of defaults by issuers rated by Standard & Poor's over the past 15 years, based on rating they were initially assigned Data: Standard & Poor's Corp.