e. Figure 3: Euro IG (left) and HY (right) credit fundamentals 1 0 1.2 1.4 EFTA01476103 1.6 1.8 2.0 2.2 2000 2002 Net Debt/EBITDA (LHS) EBITDA/Interest (RHS) 10 11 12 6 7 8 9 2004 2006 2008 2010 2012 2014 2.0 2.5 3.0 3.5 4.0 4.5 2005 Source: Deutsche Bank Research, Bloomberg Fina