20% 18% 16% 14% 12% 10% 8% 6% 4% 2% 0% ■ Fa, Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 , I Year 7 Year 8 Year 9 Year 10 .8a Corp Infra and Project Finance Debt Seamier Ba Non-Financial Corporate Issuers Ultimate Credit Loss Rates for Ba Rated Debt' 14% 12% • Credit loss rates fo