EFTA Document EFTA01365631

Table 4: S&P Tiered Corporate Recovery Rates (By Asset Class and Class of Notes) AAA AA Notes rating categories A BBB BB B and CCC Senior secured first-lien** Group 1 50 55 59 63 75 79 Group 2 45 49 53 58 70 74 Group 3 39 42 46 49 60 63 Group 4 17 19 27 29 31 34 Senior secured cov-litc loans/ senior secured bonds Group I 41 46 49 53 63 67 Group 2 37 41 44 49 59 62 Group 3 32 35 39 41 50 53 Group 4 17 19 27 29 31 34 Me-raninc/ sen