Chart 5.
The title is "Various Industries Show High Levels of Expected Default Risk." This is a bar graph comparing median Expected Default Frequency (EDF™) in September 1999 and September 2000 for various sectors that include a high proportion of firms with high default probabilities. All of the sectors exceed the comparative EDF of B-rated S&P bonds, which is 2 percent, and all of the sectors experienced increased risk in 2000 compared with 1999 except for Construction, which fell slightly.