4 I 125 C Price (MS 9.750% 2016): 118.00 I. k ' 75 25 -25 -75 -125 a 9 3 3 a cl 3 3 Ali Difference Avg Dill. —AES 9.750% 2018 — HY Spa BBB 1200 1000 800 600 400 200 0 J.P.Morgan Difference (bp) AES 7.750% 2015 vs. HY Split BBB Spread (bp) Sotoca:M.f4oreau 175 Tight: 4t8