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GLOBAL CORPORATE FINANCE

APPENDIX I

Bank Credit Facilities

U.S. Speculative Grade Corporate Issuers, 2010-2014


(Based on data and ratings as of November 12, 2009. All amounts are in $ millions)
FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Crown Castle Operating Company US$ 188.0 Bank Credit Facility Ba2 01/05/10 Telecom/Tech./Media
Atlantic Broadband Finance, LLC US$ 27.5 Bank Credit Facility B1 SGL-2 03/01/10 Telecom/Tech./Media
Eye Care Centers of America, Inc. US$ 25.0 Bank Credit Facility Ba1 SGL-2 03/01/10 Retail/Apparel
Rural/Metro Operating Company, LLC US$ 20.0 Bank Credit Facility Ba2 03/04/10 Healthcare/Healthcare Equipment
HealthTronics, Inc. US$ 60.0 Bank Credit Facility B1 03/23/10 Healthcare/Healthcare Equipment
St. John Knits International, Incorporated US$ 45.0 Bank Credit Facility B2 03/23/10 Retail/Apparel
Affinity Group Inc. US$ 111.2 Bank Credit Facility B1 03/31/10 Telecom/Tech./Media
Affinity Group Inc. US$ 25.0 Bank Credit Facility B1 03/31/10 Telecom/Tech./Media
Hillman Group Inc. (The) US$ 9.05 Bank Credit Facility Ba2 03/31/10 Consumer Products
Mediacom Broadband LLC US$ 44.63 Bank Credit Facility Ba3 03/31/10 Telecom/Tech./Media
Datatel, Inc. US$ 35.0 Bank Credit Facility Ba3 04/01/10 Telecom/Tech./Media
LifePoint Hospitals, Inc. US$ 350.0 Bank Credit Facility Ba1 04/15/10 Healthcare/Healthcare Equipment
Deltek, Inc. US$ 7.5 Bank Credit Facility B1 SGL-1 04/22/10 Telecom/Tech./Media
MAPCO Express, Inc. US$ 50.0 Bank Credit Facility B3 04/28/10 Retail/Apparel
MAPCO Express, Inc. US$ 70.0 Bank Credit Facility B3 04/28/10 Retail/Apparel
Diagnostic Imaging Group, LLC US$ 10.0 Bank Credit Facility B1 05/04/10 Healthcare/Healthcare Equipment
Building
Manitowoc Company, Inc. (The) US$ 33.6 Bank Credit Facility B1 05/06/10 Products/Manufacturing/Homebuilding
Vicar Operating Inc. US$ 75.0 Bank Credit Facility Ba2 05/16/10 Consumer Products
Carmike Cinemas, Inc. US$ 50.0 Bank Credit Facility B1 05/19/10 Food/Entertainment/Lodging
MetoKote Corporation US$ 30.0 Bank Credit Facility Caa1 05/27/10 Auto/Transportation/Defense
Canon Communications, LLC US$ 10.0 Bank Credit Facility B3 05/31/10 Telecom/Tech./Media
Spanish Broadcasting System, Inc. US$ 25.0 Bank Credit Facility Caa3 06/10/10 Telecom/Tech./Media
Qwest Corporation US$ 500.0 Bank Credit Facility Ba1 06/30/10 Telecom/Tech./Media
Rexair Holdings, Inc. US$ 15.0 Bank Credit Facility B1 06/30/10 Consumer Products
Rexair Holdings, Inc. US$ 83.7 Bank Credit Facility B1 06/30/10 Consumer Products
Spirit Aerosystems, Inc. US$ 320.2 Bank Credit Facility Ba2 06/30/10 Auto/Transportation/Defense
Butler Animal Health Holding Co., LLC US$ 30.0 Bank Credit Facility Ba3 07/01/10 Healthcare/Healthcare Equipment
Virgin Mobile USA, LP US$ 191.0 Bank Credit Facility B2 SGL-4 07/02/10 Telecom/Tech./Media
GrafTech Finance, Inc. US$ 215.0 Bank Credit Facility Ba1 07/15/10 Energy/Natural Resources/Chemicals
CCM Merger, Inc. US$ 100.0 Bank Credit Facility B3 07/21/10 Food/Entertainment/Lodging
Mega Bloks US US$ 100.0 Bank Credit Facility Caa3 SGL-4 07/26/10 Consumer Products
Rockwood Specialties Group, Inc. US$ 70.0 Bank Credit Facility Ba2 07/30/10 Energy/Natural Resources/Chemicals

23 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Building
Blount, Inc US$ 90.0 Bank Credit Facility Ba1 08/09/10 Products/Manufacturing/Homebuilding
Building
Blount, Inc US$ 107.744 Bank Credit Facility Ba1 08/09/10 Products/Manufacturing/Homebuilding
Genoa Healthcare Group, LLC US$ 20.0 Bank Credit Facility Ba3 08/10/10 Healthcare/Healthcare Equipment
Ozburn-Hessey Holding Company, LLC US$ 40.0 Bank Credit Facility B1 08/10/10 Auto/Transportation/Defense
Reddy Ice Corporation US$ 60.0 Bank Credit Facility B1 08/12/10 Diversified Industrials/Services/Paper
PNM Resources, Inc. US$ 26.0 Bank Credit Facility Ba2 08/15/10 Utilities
Huntsman International LLC US$ 650.0 Bank Credit Facility Ba2 08/16/10 Energy/Natural Resources/Chemicals
US Oncology, Inc. US$ 160.0 Bank Credit Facility Ba2 08/20/10 Healthcare/Healthcare Equipment
Aspect Software, Inc. US$ 50.0 Bank Credit Facility B1 09/22/10 Telecom/Tech./Media
Vanguard Health Holding Company II, LLC US$ 250.0 Bank Credit Facility Ba3 09/23/10 Healthcare/Healthcare Equipment
Alion Science and Technology Corp US$ 25.0 Bank Credit Facility B2 SGL-4 09/30/10 Auto/Transportation/Defense
Butler Animal Health Holding Co., LLC US$ 146.6 Bank Credit Facility Ba3 09/30/10 Healthcare/Healthcare Equipment
Penn National Gaming, Inc. US$ 359.0 Bank Credit Facility Ba2 10/03/10 Food/Entertainment/Lodging
ResCare, Inc. US$ 250.0 Bank Credit Facility Ba1 10/03/10 Healthcare/Healthcare Equipment
Graham Packaging Company, L.P. US$ 135.2 Bank Credit Facility B1 SGL-2 10/07/10 Diversified Industrials/Services/Paper
CITGO Petroleum Corporation US$ 1150.0 Bank Credit Facility Ba1 10/13/10 Energy/Natural Resources/Chemicals
Building
Chart Industries, Inc. US$ 115.0 Bank Credit Facility Ba2 SGL-2 10/17/10 Products/Manufacturing/Homebuilding
Building
EMCOR Group, Inc. US$ 375.0 Bank Credit Facility Ba1 10/17/10 Products/Manufacturing/Homebuilding
Qwest Services Corp. US$ 945.0 Bank Credit Facility Ba3 10/21/10 Telecom/Tech./Media
Building
Champion Home Builders, Co. US$ 40.0 Bank Credit Facility Caa1 SGL-4 10/31/10 Products/Manufacturing/Homebuilding
Building
TCO Funding Corporation US$ 40.0 Bank Credit Facility B3 10/31/10 Products/Manufacturing/Homebuilding
Nalco Company US$ 167.0 Bank Credit Facility Ba1 11/01/10 Energy/Natural Resources/Chemicals
Roundy's Supermarkets, Inc. US$ 30.0 Bank Credit Facility B1 11/07/10 Retail/Apparel
Accuity Inc. US$ 5.0 Bank Credit Facility B2 11/08/10 Telecom/Tech./Media
Source Media Inc. US$ 30.0 Bank Credit Facility B2 11/08/10 Telecom/Tech./Media
Ameristar Casinos, Inc. US$ 150.0 Bank Credit Facility Ba2 SGL-2 11/10/10 Food/Entertainment/Lodging
Polymer Group, Inc. US$ 15.0 Bank Credit Facility Ba3 11/22/10 Diversified Industrials/Services/Paper
Network Communications, Inc. US$ 15.0 Bank Credit Facility Ba3 SGL-3 11/30/10 Telecom/Tech./Media
Workflow Management, Inc. US$ 40.0 Bank Credit Facility Caa1 11/30/10 Telecom/Tech./Media
MAFCO Worldwide Corporation US$ 15.0 Bank Credit Facility B1 12/08/10 Energy/Natural Resources/Chemicals
Pinnacle Entertainment, Inc. US$ 531.0 Bank Credit Facility Ba2 12/15/10 Food/Entertainment/Lodging
Building
Sensus Metering Systems Inc. US$ 27.8 Bank Credit Facility Ba2 12/17/10 Products/Manufacturing/Homebuilding
Vought Aircraft Industries, Inc. US$ 100.0 Bank Credit Facility Ba2 12/20/10 Auto/Transportation/Defense
Compass Minerals International, Inc US$ 125.0 Bank Credit Facility Ba2 12/22/10 Energy/Natural Resources/Chemicals
Merrill Communications LLC US$ 60.0 Bank Credit Facility B1 12/22/10 Telecom/Tech./Media

24 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Georgia-Pacific LLC US$ 425.0 Bank Credit Facility Ba2 12/23/10 Diversified Industrials/Services/Paper
Georgia-Pacific LLC US$ 693.0 Bank Credit Facility Ba2 12/23/10 Diversified Industrials/Services/Paper
SGS International, Inc. US$ 26.08 Bank Credit Facility Ba2 SGL-3 12/30/10 Telecom/Tech./Media
Springs Window Fashions, LLC US$ 100.0 Bank Credit Facility B2 12/30/10 Consumer Products
Alaska Communications Systems Holdings,
Inc. US$ 45.0 Bank Credit Facility Ba3 SGL-3 01/06/11 Telecom/Tech./Media
Building
Alliance Laundry Systems LLC US$ 55.0 Bank Credit Facility Ba3 01/27/11 Products/Manufacturing/Homebuilding
Deluxe Entertainment Services Group, Inc. US$ 125.0 Bank Credit Facility Ba3 01/28/11 Telecom/Tech./Media
Bare Escentuals Beauty, Inc. US$ 10.0 Bank Credit Facility Ba3 SGL-2 01/31/11 Consumer Products
Del Monte Corporation US$ 212.0 Bank Credit Facility Ba1 SGL-3 02/08/11 Food/Entertainment/Lodging
Del Monte Corporation US$ 450.0 Bank Credit Facility Ba1 SGL-3 02/08/11 Food/Entertainment/Lodging
Drummond Company, Inc. US$ 95.0 Bank Credit Facility Ba1 02/14/11 Energy/Natural Resources/Chemicals
Drummond Company, Inc. US$ 325.0 Bank Credit Facility Ba1 02/14/11 Energy/Natural Resources/Chemicals
infoGROUP Inc. US$ 175.0 Bank Credit Facility Ba2 02/14/11 Telecom/Tech./Media
Bare Escentuals Beauty, Inc. US$ 15.0 Bank Credit Facility Ba3 SGL-2 02/18/11 Consumer Products
Select Medical Corporation US$ 300.0 Bank Credit Facility Ba2 02/24/11 Healthcare/Healthcare Equipment
Energy Transfer Equity, L.P. US$ 500.0 Bank Credit Facility Ba2 02/28/11 Energy/Natural Resources/Chemicals
QVC, Inc. US$ 92.6 Bank Credit Facility Ba2 03/03/11 Telecom/Tech./Media
QVC, Inc. US$ 317.6 Bank Credit Facility Ba2 03/03/11 Telecom/Tech./Media
QVC, Inc. US$ 28.0 Bank Credit Facility Ba2 03/03/11 Telecom/Tech./Media
QVC, Inc. US$ 11.8 Bank Credit Facility Ba2 03/03/11 Telecom/Tech./Media
Rural/Metro Operating Company, LLC US$ 56.0 Bank Credit Facility Ba2 03/04/11 Healthcare/Healthcare Equipment
Rural/Metro Operating Company, LLC US$ 45.0 Bank Credit Facility Ba2 03/04/11 Healthcare/Healthcare Equipment
Dave & Buster's, Inc. US$ 60.0 Bank Credit Facility Ba2 SGL-3 03/08/11 Food/Entertainment/Lodging
DTN, Inc. US$ 25.0 Bank Credit Facility B1 03/10/11 Telecom/Tech./Media
Golden Gate National Senior Care, LLC US$ 50.0 Bank Credit Facility Ba2 03/14/11 Healthcare/Healthcare Equipment
Golden Gate National Senior Care, LLC US$ 216.0 Bank Credit Facility Ba2 03/14/11 Healthcare/Healthcare Equipment
Kerasotes Showplace Theatres, LLC US$ 60.0 Bank Credit Facility B1 03/15/11 Food/Entertainment/Lodging
Landry's Restaurants, Inc. US$ 156.53 Bank Credit Facility Ba2 SGL-3 03/19/11 Food/Entertainment/Lodging
Landry's Restaurants, Inc. US$ 50.0 Bank Credit Facility Ba2 SGL-3 03/19/11 Food/Entertainment/Lodging
American Achievement Corporation US$ 25.0 Bank Credit Facility B1 03/25/11 Consumer Products
American Achievement Corporation US$ 46.75 Bank Credit Facility B1 03/25/11 Consumer Products
Panavision Inc. US$ 254.0 Bank Credit Facility Caa2 03/30/11 Telecom/Tech./Media
Panavision Inc. US$ 35.0 Bank Credit Facility Caa2 03/30/11 Telecom/Tech./Media
FiberVisions Delaware Corporation US$ 20.0 Bank Credit Facility B1 03/31/11 Energy/Natural Resources/Chemicals
John Henry Holdings, Inc. US$ 30.0 Bank Credit Facility B1 03/31/11 Diversified Industrials/Services/Paper
American Greetings Corporation US$ 350.0 Bank Credit Facility Ba1 SGL-2 04/04/11 Consumer Products
Amsted Industries Incorporated US$ 300.0 Bank Credit Facility Ba3 04/05/11 Auto/Transportation/Defense
Prestige Brands, Inc. US$ 212.34 Bank Credit Facility Ba3 SGL-3 04/06/11 Consumer Products
kgb US$ 200.0 Bank Credit Facility Ba2 04/11/11 Diversified Industrials/Services/Paper

25 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
ConMed Corporation US$ 100.0 Bank Credit Facility Ba1 04/12/11 Healthcare/Healthcare Equipment
Avis Budget Car Rental, LLC US$ 1150.0 Bank Credit Facility Ba3 SGL-3 04/19/11 Auto/Transportation/Defense
Deltek, Inc. US$ 50.2 Bank Credit Facility B1 SGL-1 04/22/11 Telecom/Tech./Media
Cracker Barrel Old Country Store, Inc. US$ 850.0 Bank Credit Facility Ba3 04/27/11 Food/Entertainment/Lodging
Kansas City Southern Railway Company
(The) US$ 125.0 Bank Credit Facility Ba2 04/28/11 Auto/Transportation/Defense
MAPCO Express, Inc. US$ 91.2 Bank Credit Facility B3 04/28/11 Retail/Apparel
Activant Solutions Inc. US$ 40.0 Bank Credit Facility B1 SGL-3 05/02/11 Telecom/Tech./Media
CACI International, Inc. US$ 240.0 Bank Credit Facility Ba1 SGL-1 05/03/11 Telecom/Tech./Media
CACI International, Inc. US$ 280.88 Bank Credit Facility Ba1 SGL-1 05/03/11 Telecom/Tech./Media
Datatel, Inc. US$ 80.0 Bank Credit Facility Ba3 05/05/11 Telecom/Tech./Media
Hexion Specialty Chemicals Inc. US$ 225.0 Bank Credit Facility B1 SGL-3 05/05/11 Food/Entertainment/Lodging
Kraton Polymers LLC US$ 75.0 Bank Credit Facility B1 05/12/11 Energy/Natural Resources/Chemicals
Niska Gas Storage US, LLC US$ 52.22 Bank Credit Facility Ba3 05/12/11 Energy/Natural Resources/Chemicals
Vicar Operating Inc. US$ 518.2 Bank Credit Facility Ba2 05/16/11 Consumer Products
Allegheny Energy, Inc. US$ 376.0 Bank Credit Facility Ba1 05/22/11 Utilities
Hanger Orthopedic Group, Inc. US$ 75.0 Bank Credit Facility Ba2 05/26/11 Healthcare/Healthcare Equipment
Building
Atrium Companies, Inc. US$ 45.5 Bank Credit Facility Caa3 05/31/11 Products/Manufacturing/Homebuilding
Canon Communications, LLC US$ 111.69 Bank Credit Facility B3 05/31/11 Telecom/Tech./Media
Hit Entertainment, Inc. US$ 77.0 Bank Credit Facility B1 06/01/11 Telecom/Tech./Media
J. Ray McDermott, S.A. US$ 800.0 Bank Credit Facility Ba2 06/06/11 Energy/Natural Resources/Chemicals
EnergySolutions, LLC US$ 75.0 Bank Credit Facility Ba2 SGL-2 06/07/11 Diversified Industrials/Services/Paper
William Carter Company (The) US$ 125.0 Bank Credit Facility Ba2 06/07/11 Retail/Apparel
24 Hour Fitness Worldwide, Inc US$ 100.0 Bank Credit Facility Ba3 06/08/11 Diversified Industrials/Services/Paper
Constellation Brands, Inc. US$ 321.0 Bank Credit Facility Ba3 SGL-2 06/08/11 Food/Entertainment/Lodging
Constellation Brands, Inc. US$ 900.0 Bank Credit Facility Ba3 SGL-2 06/08/11 Food/Entertainment/Lodging
ArvinMeritor, Inc. US$ 700.0 Bank Credit Facility B1 SGL-4 06/23/11 Auto/Transportation/Defense
ICG, LLC US$ 100.0 Bank Credit Facility B1 SGL-4 06/23/11 Energy/Natural Resources/Chemicals
McClatchy Company (The) US$ 548.0 Bank Credit Facility B1 SGL-4 06/27/11 Telecom/Tech./Media
McClatchy Company (The) US$ 595.0 Bank Credit Facility B1 SGL-4 06/27/11 Telecom/Tech./Media
Burger King Corporation US$ 134.4 Bank Credit Facility Ba2 06/30/11 Food/Entertainment/Lodging
Burger King Corporation US$ 150.0 Bank Credit Facility Ba2 06/30/11 Food/Entertainment/Lodging
One Communications Corp. US$ 30.0 Bank Credit Facility B2 06/30/11 Telecom/Tech./Media
QVC, Inc. US$ 285.9 Bank Credit Facility Ba2 06/30/11 Telecom/Tech./Media
Rent-A-Center, Inc. US$ 165.0 Bank Credit Facility Ba2 06/30/11 Retail/Apparel
Silgan Holdings Inc. US$ 198.413 Bank Credit Facility Ba1 06/30/11 Diversified Industrials/Services/Paper
Silgan Holdings Inc. US$ 450.0 Bank Credit Facility Ba1 06/30/11 Diversified Industrials/Services/Paper
Sinclair Television Group, Inc US$ 60.5 Bank Credit Facility Ba2 SGL-2 06/30/11 Telecom/Tech./Media
Weight Watchers International, Inc. US$ 258.1 Bank Credit Facility Ba1 06/30/11 Healthcare/Healthcare Equipment
Weight Watchers International, Inc. US$ 500.0 Bank Credit Facility Ba1 06/30/11 Healthcare/Healthcare Equipment
Clearwire Legacy LLC US$ 1234.0 Bank Credit Facility B3 07/03/11 Telecom/Tech./Media

26 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Clearwire Legacy LLC US$ 179.0 Bank Credit Facility Caa3 07/03/11 Telecom/Tech./Media
AES Corporation, (The) US$ 785.0 Bank Credit Facility Ba1 SGL-2 07/05/11 Utilities
EnviroSolutions Real Property Holdings,
Inc. US$ 25.0 Bank Credit Facility Caa2 07/07/11 Diversified Industrials/Services/Paper
Aspect Software, Inc. US$ 465.5 Bank Credit Facility B1 07/11/11 Telecom/Tech./Media
Rent-A-Center, Inc. US$ 400.0 Bank Credit Facility Ba2 07/13/11 Retail/Apparel
MACTEC, Inc. US$ 35.0 Bank Credit Facility Ba3 07/14/11 Diversified Industrials/Services/Paper
Interpublic Group of Companies, Inc. (The) US$ 335.0 Bank Credit Facility Ba3 SGL-1 07/18/11 Telecom/Tech./Media
Wendy's/Arby's Restaurants, LLC US$ 170.0 Bank Credit Facility Ba2 07/25/11 Food/Entertainment/Lodging
AGA Medical Corporation US$ 25.0 Bank Credit Facility B2 07/28/11 Healthcare/Healthcare Equipment
Rockwood Specialties Group, Inc. US$ 59.5 Bank Credit Facility Ba2 07/30/11 Energy/Natural Resources/Chemicals
Bankruptcy Management Solutions, Inc. US$ 15.0 Bank Credit Facility Ba3 07/31/11 Telecom/Tech./Media
Consona ERP Inc. US$ 88.57 Bank Credit Facility B1 08/01/11 Telecom/Tech./Media
Consona ERP Inc. US$ 15.0 Bank Credit Facility B1 08/01/11 Telecom/Tech./Media
HVHC, Inc. US$ 30.0 Bank Credit Facility Ba2 SGL-2 08/01/11 Retail/Apparel
TriMas Corporation US$ 60.0 Bank Credit Facility Ba3 SGL-4 08/02/11 Auto/Transportation/Defense
TriMas Corporation US$ 90.0 Bank Credit Facility B1 SGL-4 08/02/11 Auto/Transportation/Defense
U.S. TelePacific Corporation US$ 175.09 Bank Credit Facility B1 08/04/11 Telecom/Tech./Media
U.S. TelePacific Corporation US$ 21.5 Bank Credit Facility B1 08/04/11 Telecom/Tech./Media
CST Industries, Inc. US$ 20.0 Bank Credit Facility B1 08/09/11 Energy/Natural Resources/Chemicals
LifeCare Holdings, Inc. US$ 60.0 Bank Credit Facility B2 SGL-3 08/11/11 Healthcare/Healthcare Equipment
Sungard Data Systems Inc. US$ 249.0 Bank Credit Facility Ba3 SGL-2 08/11/2011 Telecom/Tech./Media
UniSource Energy Corporation US$ 11.0 Bank Credit Facility Ba1 08/11/11 Utilities
UniSource Energy Corporation US$ 70.0 Bank Credit Facility Ba1 08/11/11 Utilities
AES Corporation, (The) US$ 200.0 Bank Credit Facility Ba1 SGL-2 08/13/11 Utilities
PNM Resources, Inc. US$ 25.0 Bank Credit Facility Ba2 08/15/11 Utilities
BCBG Max Azria Group, Inc. US$ 105.1 Bank Credit Facility B3 08/24/11 Retail/Apparel
Cedar Fair, L.P. US$ 310.0 Bank Credit Facility Ba3 SGL-3 08/30/11 Food/Entertainment/Lodging
Vulcan Energy Corporation US$ 5.0 Bank Credit Facility Ba2 08/31/11 Energy/Natural Resources/Chemicals
Hanesbrands, Inc. US$ 500.0 Bank Credit Facility Ba1 SGL-2 09/05/11 Retail/Apparel
Golden Gate National Senior Care, LLC US$ 100.0 Bank Credit Facility B3 09/14/11 Healthcare/Healthcare Equipment
Acxiom Corporation US$ 200.0 Bank Credit Facility Ba2 09/15/11 Diversified Industrials/Services/Paper
Peabody Energy Corporation US$ 950.0 Bank Credit Facility Ba1 SGL-1 09/15/11 Energy/Natural Resources/Chemicals
Radio Systems Corporation US$ 55.0 Bank Credit Facility B2 09/15/11 Consumer Products
Vanguard Health Holding Company II, LLC US$ 764.5 Bank Credit Facility Ba3 09/23/11 Healthcare/Healthcare Equipment
American Seafoods Group LLC US$ 72.0 Bank Credit Facility Ba3 09/30/11 Food/Entertainment/Lodging
American Seafoods Group LLC US$ 75.0 Bank Credit Facility Ba3 09/30/11 Food/Entertainment/Lodging
Mediacom LLC US$ 400.0 Bank Credit Facility Ba3 09/30/11 Telecom/Tech./Media
Atlantic Broadband Finance, LLC US$ 118.8 Bank Credit Facility B1 SGL-2 10/01/11 Telecom/Tech./Media
Building
Armstrong World Industries, Inc. US$ 281.3 Bank Credit Facility Ba2 SGL-1 10/02/11 Products/Manufacturing/Homebuilding
Armstrong World Industries, Inc. US$ 300.0 Bank Credit Facility Ba2 SGL-1 10/02/11 Building

27 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Products/Manufacturing/Homebuilding

Open Text Corp. US$ 75.0 Bank Credit Facility Ba1 SGL-1 10/02/11 Telecom/Tech./Media
Building
Votorantim Cement North America Inc. US$ 361.25 Bank Credit Facility Ba1 10/02/11 Products/Manufacturing/Homebuilding
Building
Votorantim Cement North America Inc. US$ 150.0 Bank Credit Facility Ba1 10/02/11 Products/Manufacturing/Homebuilding
Georgia Gulf Corporation US$ 300.0 Bank Credit Facility B2 10/03/11 Energy/Natural Resources/Chemicals
Visant Corporation US$ 316.5 Bank Credit Facility Ba1 10/04/11 Telecom/Tech./Media
tw telecom holdings inc. US$ 80.0 Bank Credit Facility Ba1 10/06/11 Telecom/Tech./Media
Datatel, Inc. US$ 70.0 Bank Credit Facility B3 10/07/11 Telecom/Tech./Media
Graham Packaging Company, L.P. US$ 611.6 Bank Credit Facility B1 SGL-2 10/07/11 Diversified Industrials/Services/Paper
Pregis Corporation US$ 50.0 Bank Credit Facility Ba3 SGL-3 10/12/11 Diversified Industrials/Services/Paper
Ball Corporation US$ 375.0 Bank Credit Facility Ba1 10/13/11 Diversified Industrials/Services/Paper
Ball Corporation US$ 35.0 Bank Credit Facility Ba1 10/13/11 Diversified Industrials/Services/Paper
Ball Corporation US$ 715.0 Bank Credit Facility Ba1 10/13/11 Diversified Industrials/Services/Paper
Affinion Group, Inc. US$ 100.0 Bank Credit Facility Ba2 SGL-1 10/17/11 Telecom/Tech./Media
O'Charley's, Inc. US$ 100.0 Bank Credit Facility Ba2 SGL-3 10/18/11 Food/Entertainment/Lodging
DS Waters of America, Inc. US$ 20.0 Bank Credit Facility Ba3 10/27/11 Food/Entertainment/Lodging
Kerasotes Showplace Theatres, LLC US$ 65.20 Bank Credit Facility B1 10/27/11 Food/Entertainment/Lodging
Regal Cinemas Corporation US$ 950.0 Bank Credit Facility Ba2 SGL-2 10/27/11 Food/Entertainment/Lodging
Brown Jordan International, Inc. US$ 75.0 Bank Credit Facility Ba3 10/30/11 Consumer Products
Indianapolis Downs, LLC US$ 74.0 Bank Credit Facility B1 10/30/11 Food/Entertainment/Lodging
Indianapolis Downs, LLC US$ 25.0 Bank Credit Facility B1 10/30/11 Food/Entertainment/Lodging
San Juan Cable, LLC US$ 50.0 Bank Credit Facility B1 10/30/11 Telecom/Tech./Media
Evergreen International Aviation, Inc. US$ 30.0 Bank Credit Facility B3 10/31/11 Auto/Transportation/Defense
Evergreen International Aviation, Inc. US$ 209.82 Bank Credit Facility B3 10/31/11 Auto/Transportation/Defense
Building
Owens Corning US$ 600.0 Bank Credit Facility Ba1 SGL-2 10/31/11 Products/Manufacturing/Homebuilding
Building
Owens Corning US$ 1000.0 Bank Credit Facility Ba1 SGL-2 10/31/11 Products/Manufacturing/Homebuilding
Targa Resources, Inc. US$ 250.0 Bank Credit Facility Ba3 SGL-2 10/31/11 Energy/Natural Resources/Chemicals
Targa Resources, Inc. US$ 65.0 Bank Credit Facility Ba3 SGL-2 10/31/11 Energy/Natural Resources/Chemicals
Sirius Computer Solutions, Inc. US$ 30.0 Bank Credit Facility Ba2 11/01/11 Telecom/Tech./Media
AMN Healthcare, Inc. US$ 77.3 Bank Credit Facility Ba1 11/02/11 Diversified Industrials/Services/Paper
AMN Healthcare, Inc. US$ 75.0 Bank Credit Facility Ba1 11/02/11 Diversified Industrials/Services/Paper
MetroPCS Wireless, Inc. US$ 100.0 Bank Credit Facility Ba2 SGL-1 11/03/11 Telecom/Tech./Media
LIN Television Corporation US$ 203.0 Bank Credit Facility Ba2 SGL-4 11/04/11 Telecom/Tech./Media
LIN Television Corporation US$ 225.0 Bank Credit Facility Ba2 SGL-4 11/04/11 Telecom/Tech./Media
QTC Management, Inc. US$ 15.0 Bank Credit Facility B2 11/04/11 Healthcare/Healthcare Equipment
SS&C Technologies, Inc. US$ 75.0 Bank Credit Facility Ba3 SGL-2 11/04/11 Telecom/Tech./Media
Advance Auto Parts, Inc. US$ 200.0 Bank Credit Facility Ba1 SGL-2 11/05/11 Auto/Transportation/Defense
DaVita, Inc. US$ 175.0 Bank Credit Facility Ba1 SGL-1 11/05/11 Healthcare/Healthcare Equipment
DaVita, Inc. US$ 250.0 Bank Credit Facility Ba1 SGL-1 11/05/11 Healthcare/Healthcare Equipment

28 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Roundy's Supermarkets, Inc. US$ 58.0 Bank Credit Facility B1 11/07/11 Retail/Apparel
Accuity Inc. US$ 60.5 Bank Credit Facility B2 11/08/11 Telecom/Tech./Media
Source Media Inc. US$ 87.0 Bank Credit Facility B2 11/08/11 Telecom/Tech./Media
NCO Group, Inc. US$ 100.0 Bank Credit Facility Ba3 SGL-3 11/15/11 Diversified Industrials/Services/Paper
NextMedia Operating, Inc. US$ 63.0 Bank Credit Facility Caa2 11/15/11 Telecom/Tech./Media
RadNet Management, Inc. US$ 55.0 Bank Credit Facility Ba3 SGL-3 11/15/11 Healthcare/Healthcare Equipment
Sally Holdings, LLC US$ 400.0 Bank Credit Facility Ba2 SGL-2 11/15/11 Retail/Apparel
Tenet Healthcare Corporation US$ 800.0 Bank Credit Facility Ba3 SGL-2 11/16/11 Healthcare/Healthcare Equipment
Windsor Quality Food Co. Ltd. US$ 100.0 Bank Credit Facility B1 11/16/11 Food/Entertainment/Lodging
Xerium Technologies, Inc. US$ 50.0 Bank Credit Facility Caa3 SGL-4 11/19/11 Diversified Industrials/Services/Paper
Accellent Inc. US$ 75.0 Bank Credit Facility B1 SGL-2 11/22/11 Healthcare/Healthcare Equipment
Sterigenics International, Inc. US$ 30.0 Bank Credit Facility B3 11/22/11 Healthcare/Healthcare Equipment
Iowa Telecommunications Services, Inc. US$ 7.8 Bank Credit Facility Ba3 SGL-2 11/23/11 Telecom/Tech./Media
Iowa Telecommunications Services, Inc. US$ 70.0 Bank Credit Facility Ba3 SGL-2 11/23/11 Telecom/Tech./Media
Iowa Telecommunications Services, Inc. US$ 400.0 Bank Credit Facility Ba3 SGL-2 11/23/11 Telecom/Tech./Media
Iowa Telecommunications Services, Inc. US$ 100.0 Bank Credit Facility Ba3 SGL-2 11/23/11 Telecom/Tech./Media
Team Finance LLC US$ 125.0 Bank Credit Facility B1 SGL-1 11/23/11 Healthcare/Healthcare Equipment
MetoKote Corporation US$ 94.0 Bank Credit Facility Caa1 11/27/11 Auto/Transportation/Defense
Canon Communications, LLC US$ 49.53 Bank Credit Facility B3 11/30/11 Telecom/Tech./Media
RSC Equipment Rental, Inc. US$ 281.0 Bank Credit Facility Ba3 SGL-3 11/30/11 Auto/Transportation/Defense
Workflow Management, Inc. US$ 137.22 Bank Credit Facility Caa1 11/30/11 Telecom/Tech./Media
Healthways, Inc. US$ 400.0 Bank Credit Facility Ba2 SGL-1 12/01/11 Healthcare/Healthcare Equipment
Logan's Roadhouse, Inc. US$ 30.0 Bank Credit Facility Ba3 12/06/11 Food/Entertainment/Lodging
Oshkosh Corporation US$ 117.7 Bank Credit Facility B2 SGL-3 12/06/11 Auto/Transportation/Defense
Oshkosh Corporation US$ 550.0 Bank Credit Facility B2 SGL-3 12/06/11 Auto/Transportation/Defense
John Maneely Company US$ 300.0 Bank Credit Facility Ba2 12/08/11 Energy/Natural Resources/Chemicals
MAFCO Worldwide Corporation US$ 59.20 Bank Credit Facility B1 12/08/11 Energy/Natural Resources/Chemicals
Total Safety U.S., Inc. US$ 15.0 Bank Credit Facility Ba3 12/08/11 Diversified Industrials/Services/Paper
Spirit Aerosystems, Inc. US$ 573.5 Bank Credit Facility Ba2 12/09/11 Auto/Transportation/Defense
Denny's Holdings, Inc. US$ 50.0 Bank Credit Facility Ba2 SGL-3 12/15/11 Food/Entertainment/Lodging
Ford Motor Company US$ 8000.0 Bank Credit Facility Ba3 SGL-3 12/15/11 Auto/Transportation/Defense
Jack in the Box Inc. US$ 150.0 Bank Credit Facility Ba3 12/15/11 Food/Entertainment/Lodging
Wm. Bolthouse Farms, Inc. US$ 75.0 Bank Credit Facility B1 12/17/11 Food/Entertainment/Lodging
Simmons Company US$ 465.0 Bank Credit Facility B2 12/19/11 Consumer Products
Apptis (DE), Inc. US$ 25.0 Bank Credit Facility B1 12/20/11 Auto/Transportation/Defense
Vought Aircraft Industries, Inc. US$ 325.2 Bank Credit Facility Ba2 12/20/11 Auto/Transportation/Defense
Block Communications, Inc. US$ 75.0 Bank Credit Facility Ba1 12/22/11 Telecom/Tech./Media
Alliance Healthcare Services, Inc. US$ 351.0 Bank Credit Facility Ba2 12/29/11 Healthcare/Healthcare Equipment
SGS International, Inc. US$ 99.17 Bank Credit Facility Ba2 SGL-3 12/30/11 Telecom/Tech./Media
SGS International, Inc. US$ 39.37 Bank Credit Facility Ba2 SGL-3 12/30/11 Telecom/Tech./Media
Harman International Industries, Inc. US$ 270.0 Bank Credit Facility Ba1 SGL-3 12/31/11 Auto/Transportation/Defense

29 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Psychiatric Solutions, Inc. US$ 300.0 Bank Credit Facility Ba2 SGL-3 12/31/11 Healthcare/Healthcare Equipment
Mirant North America, LLC US$ 800.0 Bank Credit Facility Ba2 01/03/12 Utilities
Alaska Communications Systems Holdings,
Inc. US$ 427.9 Bank Credit Facility Ba3 SGL-3 01/06/12 Telecom/Tech./Media
Gentiva Health Services, Inc. US$ 96.5 Bank Credit Facility Ba3 SGL-2 01/12/12 Healthcare/Healthcare Equipment
Keystone Automotive Operations, Inc. US$ 188.7 Bank Credit Facility Caa1 01/12/12 Auto/Transportation/Defense
Revlon Consumer Products Corporation US$ 820.0 Bank Credit Facility Ba3 SGL-2 01/15/12 Consumer Products
Revlon Consumer Products Corporation US$ 160.0 Bank Credit Facility Ba3 SGL-2 01/15/12 Consumer Products
Fidelity National Information Services, Inc. US$ 1916.3 Bank Credit Facility Ba1 SGL-1 01/18/12 Telecom/Tech./Media
Fidelity National Information Services, Inc. US$ 900.0 Bank Credit Facility Ba1 SGL-1 01/18/12 Telecom/Tech./Media
Fidelity National Information Services, Inc. US$ 300 Bank Credit Facility Ba1 SGL-1 01/18/12 Telecom/Tech./Media
IESI Corporation US$ 195.0 Bank Credit Facility B1 01/21/12 Diversified Industrials/Services/Paper
IESI Corporation US$ 588.8 Bank Credit Facility B1 01/21/12 Diversified Industrials/Services/Paper
Jarden Corporation US$ 724.0 Bank Credit Facility Ba2 SGL-2 01/24/12 Consumer Products
Building
Alliance Laundry Systems LLC US$ 139.00 Bank Credit Facility Ba3 01/27/12 Products/Manufacturing/Homebuilding
American Media Operations, Inc. US$ 60.0 Bank Credit Facility B3 01/30/12 Telecom/Tech./Media
Building
Contech Construction Products, Inc. US$ 100.0 Bank Credit Facility B1 01/31/12 Products/Manufacturing/Homebuilding
On Assignment, Inc. US$ 20.0 Bank Credit Facility Ba3 SGL-2 01/31/12 Diversified Industrials/Services/Paper
United Air Lines, Inc. US$ 254.5 Bank Credit Facility B3 SGL-3 02/01/12 Auto/Transportation/Defense
Building
WasteQuip, Inc. US$ 50.0 Bank Credit Facility B2 02/05/12 Products/Manufacturing/Homebuilding
CRC Health Corporation US$ 100.0 Bank Credit Facility Ba3 SGL-3 02/06/12 Healthcare/Healthcare Equipment
Del Monte Corporation US$ 638.1 Bank Credit Facility Ba1 SGL-3 02/08/12 Food/Entertainment/Lodging
TRW Automotive Inc. US$ 447.0 Bank Credit Facility Ba3 SGL-3 02/09/12 Auto/Transportation/Defense
Invacare Corp. US$ 150.0 Bank Credit Facility Ba2 SGL-1 02/12/12 Healthcare/Healthcare Equipment
infoGROUP Inc. US$ 70.9 Bank Credit Facility Ba2 02/14/12 Telecom/Tech./Media
Vangent, Inc. US$ 50.0 Bank Credit Facility Ba3 SGL-3 02/14/12 Diversified Industrials/Services/Paper
Hertz Corporation (The) US$ 1800.0 Bank Credit Facility Ba1 SGL-3 02/15/12 Auto/Transportation/Defense
Bare Escentuals Beauty, Inc. US$ 11.0 Bank Credit Facility Ba3 SGL-2 02/18/12 Consumer Products
Bare Escentuals Beauty, Inc. US$ 230.69 Bank Credit Facility Ba3 SGL-2 02/18/12 Consumer Products
Select Medical Corporation US$ 199.40 Bank Credit Facility Ba2 02/24/12 Healthcare/Healthcare Equipment
Kentucky Data Link, Inc. US$ 49.0 Bank Credit Facility B1 02/26/12 Telecom/Tech./Media
IFM (US) Colonial Pipeline 2, LLC US$ 219.0 Bank Credit Facility Ba3 02/27/12 Utilities
Town Sports International, LLC US$ 63.75 Bank Credit Facility Ba2 02/27/12 Diversified Industrials/Services/Paper
AZ Chem US, Inc. US$ 60.0 Bank Credit Facility B1 02/28/12 Energy/Natural Resources/Chemicals
PAETEC Holding Corp. US$ 50.0 Bank Credit Facility B1 SGL-1 02/28/12 Telecom/Tech./Media
Affinion Group Holdings, Inc. US$ 285.6 Bank Credit Facility Caa1 SGL-1 03/01/12 Telecom/Tech./Media
Atlantic Broadband Finance, LLC US$ 40.0 Bank Credit Facility B1 SGL-2 03/01/12 Telecom/Tech./Media
Euronet Worldwide, Inc. US$ 129.5 Bank Credit Facility Ba2 SGL-2 03/01/12 Diversified Industrials/Services/Paper
Eye Care Centers of America, Inc. US$ 85.2 Bank Credit Facility Ba1 SGL-2 03/01/12 Retail/Apparel
Valassis Communications, Inc. US$ 100.0 Bank Credit Facility Ba2 03/02/12 Telecom/Tech./Media

30 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Seminole Hard Rock Entertainment, Inc. US$ 25.0 Bank Credit Facility B1 03/05/12 Food/Entertainment/Lodging
Newark Group, Inc. (The) US$ 44.11 Bank Credit Facility Caa2 SGL-4 03/09/12 Diversified Industrials/Services/Paper
HealthSouth Corporation US$ 500.0 Bank Credit Facility Ba3 SGL-2 03/10/12 Healthcare/Healthcare Equipment
Serena Software, Inc. US$ 65.0 Bank Credit Facility B1 SGL-2 03/10/12 Telecom/Tech./Media
TSI Acquisition, LLC US$ 25.0 Bank Credit Facility B3 03/12/12 Energy/Natural Resources/Chemicals
Gibson Guitar Corp. US$ 17.0 Bank Credit Facility B3 03/15/12 Consumer Products
Advance Food Company, Inc. US$ 40.0 Bank Credit Facility Ba3 03/16/12 Food/Entertainment/Lodging
Easton-Bell Sports, Inc. US$ 335.0 Bank Credit Facility B1 SGL-4 03/16/12 Consumer Products
General Nutrition Centers, Inc. US$ 60.0 Bank Credit Facility B1 SGL-3 03/16/12 Retail/Apparel
Tenneco Inc. US$ 139.0 Bank Credit Facility Ba3 03/16/12 Auto/Transportation/Defense
Tenneco Inc. US$ 550.0 Bank Credit Facility Ba3 03/16/12 Auto/Transportation/Defense
CorpSource Finance Holdings, LLC US$ 164.0 Bank Credit Facility Caa3 03/19/12 Diversified Industrials/Services/Paper
Affiliated Computer Services, Inc. US$ 1000.0 Bank Credit Facility Ba2 SGL-1 03/20/12 Telecom/Tech./Media
St. John Knits International, Incorporated US$ 132.44 Bank Credit Facility B2 03/23/12 Retail/Apparel
CKE Restaurants, Inc. US$ 200.0 Bank Credit Facility Ba2 SGL-3 03/27/12 Food/Entertainment/Lodging
Ikaria Holdings, Inc. US$ 40.0 Bank Credit Facility B1 03/27/12 Healthcare/Healthcare Equipment
Alliant Techsystems Inc. US$ 268.0 Bank Credit Facility Ba1 03/29/12 Auto/Transportation/Defense
Alliant Techsystems Inc. US$ 500.0 Bank Credit Facility Ba1 03/29/12 Auto/Transportation/Defense
Entravision Communications Corporation US$ 50.0 Bank Credit Facility B1 03/29/12 Telecom/Tech./Media
Sagittarius Restaurants LLC US$ 60.0 Bank Credit Facility B2 03/29/12 Food/Entertainment/Lodging
AEI US$ 105.0 Bank Credit Facility Ba3 03/30/12 Utilities
AEI US$ 395.0 Bank Credit Facility Ba3 03/30/12 Utilities
Panavision Inc. US$ 140.0 Bank Credit Facility Ca 03/30/12 Telecom/Tech./Media
Caribe Media Inc. US$ 10.0 Bank Credit Facility B2 03/31/12 Telecom/Tech./Media
Denny's Holdings, Inc. US$ 106.7 Bank Credit Facility Ba2 SGL-3 03/31/12 Food/Entertainment/Lodging
Denny's Holdings, Inc. US$ 37.0 Bank Credit Facility Ba2 SGL-3 03/31/12 Food/Entertainment/Lodging
Hillman Group Inc. (The) US$ 33.12 Bank Credit Facility Ba2 03/31/12 Consumer Products
Hillman Group Inc. (The) US$ 142.73 Bank Credit Facility Ba2 03/31/12 Consumer Products
Hillman Group Inc. (The) US$ 20.0 Bank Credit Facility Ba2 03/31/12 Consumer Products
John Henry Holdings, Inc. US$ 96.77 Bank Credit Facility B1 03/31/12 Diversified Industrials/Services/Paper
LBI Media, Inc. US$ 150.0 Bank Credit Facility B1 03/31/12 Telecom/Tech./Media
Nuance Communications, Inc. US$ 75.0 Bank Credit Facility Ba3 SGL-1 03/31/12 Telecom/Tech./Media
Penhall Holding Company US$ 79.94 Bank Credit Facility Ca 03/31/12 Auto/Transportation/Defense
Protection One Alarm Monitoring, Inc. US$ 86.5 Bank Credit Facility Ba3 03/31/12 Diversified Industrials/Services/Paper
Quintiles Transnational Corp. US$ 225.0 Bank Credit Facility B1 03/31/12 Healthcare/Healthcare Equipment
Mission Broadcasting, Inc. US$ 15.0 Bank Credit Facility B1 SGL-3 04/01/12 Telecom/Tech./Media
Nexstar Broadcasting, Inc. US$ 82.5 Bank Credit Facility B1 SGL-3 04/01/12 Telecom/Tech./Media
Dean Foods Company US$ 1400.0 Bank Credit Facility B1 SGL-2 04/02/12 Food/Entertainment/Lodging
Dean Foods Company US$ 1500.0 Bank Credit Facility B1 SGL-2 04/02/12 Food/Entertainment/Lodging
Dynegy Holdings Inc. US$ 1080.0 Bank Credit Facility Ba2 SGL-3 04/02/12 Utilities
CapRock Communications Inc. US$ 146.6 Bank Credit Facility Ba3 04/11/12 Telecom/Tech./Media

31 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
CapRock Communications Inc. US$ 40.0 Bank Credit Facility Ba3 04/11/12 Telecom/Tech./Media
Multiplan, Inc. US$ 50.0 Bank Credit Facility B1 04/12/12 Healthcare/Healthcare Equipment
Attachmate Corporation US$ 20.0 Bank Credit Facility B1 04/13/12 Telecom/Tech./Media
LifePoint Hospitals, Inc. US$ 693.0 Bank Credit Facility Ba1 04/15/12 Healthcare/Healthcare Equipment
Iron Mountain Incorporated US$ 790.0 Bank Credit Facility Ba1 SGL-1 04/16/12 Diversified Industrials/Services/Paper
Avis Budget Car Rental, LLC US$ 780.0 Bank Credit Facility Ba3 SGL-3 04/19/12 Auto/Transportation/Defense
King Pharmaceuticals, Inc. US$ 475.0 Bank Credit Facility Ba2 SGL-2 04/19/12 Retail/Apparel
Insignia Vessel Acquisition, LLC US$ 40.0 Bank Credit Facility Ba3 04/27/12 Food/Entertainment/Lodging
Buffets, Inc. US$ 100.47 Bank Credit Facility B1 04/28/12 Food/Entertainment/Lodging
Building
Baldor Electric Company US$ 200.0 Bank Credit Facility Ba3 SGL-2 04/30/12 Products/Manufacturing/Homebuilding
Brown Jordan International, Inc. US$ 58.51 Bank Credit Facility B2 04/30/12 Consumer Products
Carestream Health US$ 150.0 Bank Credit Facility Ba2 04/30/12 Healthcare/Healthcare Equipment
Delta Air Lines, Inc. US$ 1000.0 Bank Credit Facility Ba2 SGL-2 04/31/2012 Auto/Transportation/Defense
Delta Air Lines, Inc. US$ 600.0 Bank Credit Facility Ba2 SGL-2 04/31/2012 Auto/Transportation/Defense
Unifrax LLC 1 US$ 50.0 Bank Credit Facility B2 05/02/12 Energy/Natural Resources/Chemicals
Graceway Pharmaceuticals, LLC US$ 514.22 Bank Credit Facility Ba3 05/03/12 Healthcare/Healthcare Equipment
Graceway Pharmaceuticals, LLC US$ 30.0 Bank Credit Facility Ba3 05/03/12 Healthcare/Healthcare Equipment
NPC International, Inc. US$ 75.0 Bank Credit Facility Ba3 SGL-3 05/03/12 Food/Entertainment/Lodging
Arkansas Best Corporation US$ 325.0 Bank Credit Facility Ba1 SGL-2 05/04/12 Auto/Transportation/Defense
Building
Bucyrus International, Inc. US$ 90.0 Bank Credit Facility Ba2 05/04/12 Products/Manufacturing/Homebuilding
Building
Bucyrus International, Inc. US$ 267.5 Bank Credit Facility Ba2 05/04/12 Products/Manufacturing/Homebuilding
Diagnostic Imaging Group, LLC US$ 102.65 Bank Credit Facility B1 05/04/12 Healthcare/Healthcare Equipment
CMP Susquehanna Corp US$ 100.0 Bank Credit Facility Caa3 SGL-4 05/05/12 Telecom/Tech./Media
Building
Electrical Components International, Inc. US$ 35.0 Bank Credit Facility Caa2 05/05/12 Products/Manufacturing/Homebuilding
Swift Transportation Co., Inc. US$ 450.0 Bank Credit Facility B3 05/06/12 Auto/Transportation/Defense
Oxbow Carbon LLC US$ 350.0 Bank Credit Facility B1 05/08/12 Energy/Natural Resources/Chemicals
U.S. Security Holdings, Inc. US$ 40.0 Bank Credit Facility Ba3 05/08/12 Diversified Industrials/Services/Paper
TRW Automotive Inc. US$ 700.0 Bank Credit Facility Ba3 SGL-3 05/09/12 Auto/Transportation/Defense
TRW Automotive Inc. US$ 700.0 Bank Credit Facility Ba3 SGL-3 05/09/12 Auto/Transportation/Defense
iPayment Inc. US$ 60.0 Bank Credit Facility B1 SGL-3 05/10/12 Telecom/Tech./Media
AFC Enterprises, Inc. US$ 48.0 Bank Credit Facility Ba3 SGL-3 05/11/12 Food/Entertainment/Lodging
SkillSoft Corporation US$ 25.0 Bank Credit Facility B1 SGL-1 05/14/12 Telecom/Tech./Media
Exide Technologies, Inc. US$ 127.08 Bank Credit Facility Ba3 05/15/12 Auto/Transportation/Defense
Exide Technologies, Inc. US$ 200.0 Bank Credit Facility Ba2 05/15/12 Auto/Transportation/Defense
Cannery Casino Resorts, LLC US$ 110.0 Bank Credit Facility B3 05/18/12 Food/Entertainment/Lodging
Frontier Communications Corporation US$ 250.0 Bank Credit Facility Ba2 SGL-1 05/18/12 Telecom/Tech./Media
Carmike Cinemas, Inc. US$ 145.01 Bank Credit Facility B1 05/19/12 Food/Entertainment/Lodging
Carmike Cinemas, Inc. US$ 111.44 Bank Credit Facility B1 05/19/12 Food/Entertainment/Lodging
Cristal Inorganic Chemicals Ltd. US$ 100.0 Bank Credit Facility B1 05/19/12 Energy/Natural Resources/Chemicals

32 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Xerium Technologies, Inc. US$ 563.3 Bank Credit Facility Caa3 SGL-4 05/19/12 Diversified Industrials/Services/Paper
Venetian Casino Resort, LLC US$ 1000.0 Bank Credit Facility B3 05/23/12 Food/Entertainment/Lodging
Culligan International Company US$ 110.0 Bank Credit Facility B2 05/24/12 Diversified Industrials/Services/Paper
Building
Mueller Water Products, Inc. US$ 115.1 Bank Credit Facility B1 SGL-3 05/24/12 Products/Manufacturing/Homebuilding
Building
Mueller Water Products, Inc. US$ 200.0 Bank Credit Facility B1 SGL-3 05/24/12 Products/Manufacturing/Homebuilding
Amscan Holdings, Inc. US$ 250.0 Bank Credit Facility Ba3 05/25/12 Retail/Apparel
Building
Atrium Companies, Inc. US$ 345.92 Bank Credit Facility Caa3 05/31/12 Products/Manufacturing/Homebuilding
Cincinnati Bell Inc. US$ 205.6 Bank Credit Facility Ba2 SGL-3 05/31/12 Telecom/Tech./Media
FD Alpha Acquisition LLC US$ 25.0 Bank Credit Facility B1 05/31/12 Telecom/Tech./Media
Education Management LLC US$ 442.5 Bank Credit Facility B1 SGL-1 06/01/12 Consumer Products
Hit Entertainment, Inc. US$ 327.5 Bank Credit Facility B1 06/01/12 Telecom/Tech./Media
Kronos Incorporated US$ 60.0 Bank Credit Facility Ba3 06/01/12 Telecom/Tech./Media
Spectrum Brands, Inc. US$ 1251.0 Bank Credit Facility B3 SGL-2 06/01/12 Consumer Products
Appleton Papers Inc. US$ 150.0 Bank Credit Facility Ba3 SGL-4 06/05/12 Diversified Industrials/Services/Paper
FleetPride Corporation US$ 40.0 Bank Credit Facility Ba3 06/06/12 Auto/Transportation/Defense
AMF Bowling Worldwide, Inc. US$ 40.0 Bank Credit Facility B1 06/07/12 Diversified Industrials/Services/Paper
Cumulus Media Inc. US$ 20.0 Bank Credit Facility Caa1 06/07/12 Telecom/Tech./Media
William Carter Company (The) US$ 336.3 Bank Credit Facility Ba2 06/07/12 Retail/Apparel
24 Hour Fitness Worldwide, Inc US$ 579 Bank Credit Facility Ba3 06/08/12 Diversified Industrials/Services/Paper
Riviera Holdings Corporation US$ 3.0 Bank Credit Facility Ca 06/08/12 Food/Entertainment/Lodging
Spanish Broadcasting System, Inc. US$ 310.38 Bank Credit Facility Caa3 06/11/12 Telecom/Tech./Media
LBI Media, Inc. US$ 116.0 Bank Credit Facility B1 06/12/12 Telecom/Tech./Media
AMC Entertainment Holdings, Inc. US$ 167.0 Bank Credit Facility Caa1 SGL-1 06/13/12 Food/Entertainment/Lodging
American Axle & Manufacturing, Inc. US$ 250.0 Bank Credit Facility B3 06/14/12 Auto/Transportation/Defense
Educate, Inc. US$ 10.0 Bank Credit Facility Ba3 06/14/12 Diversified Industrials/Services/Paper
Edison Mission Energy US$ 564.0 Bank Credit Facility B1 SGL-3 06/15/12 Utilities
Koosharem Corporation US$ 50.0 Bank Credit Facility B3 06/15/12 Diversified Industrials/Services/Paper
Maidenform Brands, Inc. US$ 50.0 Bank Credit Facility Ba2 06/15/12 Retail/Apparel
Skilled Healthcare Group, Inc. US$ 248.95 Bank Credit Facility B1 SGL-3 06/15/12 Healthcare/Healthcare Equipment
Skilled Healthcare Group, Inc. US$ 135.0 Bank Credit Facility B1 SGL-3 06/15/12 Healthcare/Healthcare Equipment
Building
Specialized Technology Resources, Inc. US$ 20.0 Bank Credit Facility B1 06/15/12 Products/Manufacturing/Homebuilding
Water Pik, Inc. US$ 15.0 Bank Credit Facility B1 06/15/12 Consumer Products
CTI Foods Holding Co, LLC US$ 40.0 Bank Credit Facility B2 06/18/12 Food/Entertainment/Lodging
Zuffa, LLC US$ 25.0 Bank Credit Facility Ba3 06/19/12 Food/Entertainment/Lodging
Quality Home Brands Holdings LLC US$ 20.0 Bank Credit Facility B2 06/20/12 Consumer Products
Cenveo Corporation US$ 172.5 Bank Credit Facility Ba3 SGL-3 06/21/12 Diversified Industrials/Services/Paper
GenCorp Inc. US$ 80.0 Bank Credit Facility Ba3 06/21/12 Auto/Transportation/Defense
Live Nation Worldwide, Inc. US$ 285.0 Bank Credit Facility Ba3 SGL-3 06/21/12 Food/Entertainment/Lodging
Live Nation Worldwide, Inc. US$ 325.0 Bank Credit Facility Ba3 SGL-3 06/21/12 Food/Entertainment/Lodging

33 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Interline Brands, Inc. US$ 100.0 Bank Credit Facility Ba3 06/23/12 Diversified Industrials/Services/Paper
TransDigm Inc. US$ 200.0 Bank Credit Facility Ba2 06/23/12 Auto/Transportation/Defense
Fairchild Semiconductor Corporation US$ 100.0 Bank Credit Facility Ba2 SGL-1 06/26/12 Telecom/Tech./Media
Triumph Healthcare Second Holdings, LLC US$ 35.0 Bank Credit Facility B1 06/28/12 Healthcare/Healthcare Equipment
Youth & Family Centered Services, Inc. US$ 25.0 Bank Credit Facility B1 06/28/12 Healthcare/Healthcare Equipment
Building
AmerCable Incorporated US$ 15.0 Bank Credit Facility B2 06/29/12 Products/Manufacturing/Homebuilding
CenterPoint Energy, Inc. US$ 1200.0 Bank Credit Facility Ba1 06/29/12 Utilities
Midwest Generation, LLC US$ 500.0 Bank Credit Facility Ba1 06/29/12 Utilities
Telcordia Technologies Inc. US$ 100.0 Bank Credit Facility Ba3 06/29/12 Telecom/Tech./Media
Trilogy International Partners LLC US$ 250.0 Bank Credit Facility B3 06/29/12 Telecom/Tech./Media
United Site Services, Inc. US$ 100.0 Bank Credit Facility B2 06/29/12 Diversified Industrials/Services/Paper
Awesome Acquisition Company, LP US$ 15.0 Bank Credit Facility B1 06/30/12 Food/Entertainment/Lodging
Burger King Corporation US$ 666.2 Bank Credit Facility Ba2 06/30/12 Food/Entertainment/Lodging
Continental Alloys & Services, Inc. US$ 130.0 Bank Credit Facility Caa2 06/30/12 Energy/Natural Resources/Chemicals
Continental Alloys & Services, Inc. US$ 40.0 Bank Credit Facility Caa2 06/30/12 Energy/Natural Resources/Chemicals
Knology, Inc. US$ 195.9 Bank Credit Facility B1 SGL-2 06/30/12 Telecom/Tech./Media
Knology, Inc. US$ 35.0 Bank Credit Facility B1 SGL-2 06/30/12 Telecom/Tech./Media
National MENTOR Holdings, Inc. US$ 125.0 Bank Credit Facility Ba3 06/30/12 Healthcare/Healthcare Equipment
One Communications Corp. US$ 467.2 Bank Credit Facility B2 06/30/12 Telecom/Tech./Media
QVC, Inc. US$ 254.1 Bank Credit Facility Ba2 06/30/12 Telecom/Tech./Media
Radio One, Inc. US$ 49.53 Bank Credit Facility B2 06/30/12 Telecom/Tech./Media
Radio One, Inc. US$ 500.0 Bank Credit Facility B2 06/30/12 Telecom/Tech./Media
Rainbow National Services LLC US$ 580.0 Bank Credit Facility Ba1 SGL-1 06/30/12 Telecom/Tech./Media
Rent-A-Center, Inc. US$ 494.1 Bank Credit Facility Ba2 06/30/12 Retail/Apparel
Silgan Holdings Inc. US$ 40.621 Bank Credit Facility Ba1 06/30/12 Diversified Industrials/Services/Paper
Spirit Aerosystems, Inc. US$ 408.8 Bank Credit Facility Ba2 06/30/12 Auto/Transportation/Defense
Standard Steel, LLC US$ 20.0 Bank Credit Facility B3 06/30/12 Auto/Transportation/Defense
Standard Steel, LLC US$ 106.38 Bank Credit Facility B3 06/30/12 Auto/Transportation/Defense
United Components, Inc. US$ 190.0 Bank Credit Facility B1 06/30/12 Auto/Transportation/Defense
Butler Animal Health Holding Co., LLC US$ 50.0 Bank Credit Facility Caa1 07/01/12 Healthcare/Healthcare Equipment
Psychiatric Solutions, Inc. US$ 566.0 Bank Credit Facility Ba2 SGL-3 07/01/12 Healthcare/Healthcare Equipment
El Paso Corporation US$ 500.0 Bank Credit Facility Ba2 SGL-3 07/02/12 Utilities
Walter Energy, Inc. US$ 300.0 Bank Credit Facility Ba3 07/02/12 Energy/Natural Resources/Chemicals
Intelsat Corporation US$ 175.0 Bank Credit Facility B1 SGL-3 07/03/12 Telecom/Tech./Media
Intelsat Subsidiary Holding Company US$ 250.0 Bank Credit Facility B1 SGL-3 07/03/12 Telecom/Tech./Media
Penn National Gaming, Inc. US$ 640.6 Bank Credit Facility Ba2 07/03/12 Food/Entertainment/Lodging
Intelsat Corporation US$ 240.0 Bank Credit Facility B1 SGL-3 07/05/12 Telecom/Tech./Media
JDA Software Group, Inc. US$ 50.0 Bank Credit Facility Ba3 SGL-2 07/05/12 Telecom/Tech./Media
EnviroSolutions Real Property Holdings,
Inc. US$ 185.0 Bank Credit Facility Caa2 07/07/12 Diversified Industrials/Services/Paper
Aspect Software, Inc. US$ 385.0 Bank Credit Facility Caa2 07/11/12 Telecom/Tech./Media

34 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Hercules Offshore, Inc. US$ 175.0 Bank Credit Facility B2 07/11/12 Energy/Natural Resources/Chemicals
Quantum Corporation US$ 50.0 Bank Credit Facility B1 07/12/12 Telecom/Tech./Media
SOURCECORP, Incorporated US$ 65.0 Bank Credit Facility B1 07/12/12 Diversified Industrials/Services/Paper
Building
IPS Corporation US$ 20.0 Bank Credit Facility B1 07/13/12 Products/Manufacturing/Homebuilding
MACTEC, Inc. US$ 95.46 Bank Credit Facility Ba3 07/14/12 Diversified Industrials/Services/Paper
Building
Terex Corporation US$ 550.0 Bank Credit Facility Ba2 SGL-3 07/14/12 Products/Manufacturing/Homebuilding
BWAY Corporation US$ 5.0 Bank Credit Facility Ba2 SGL-3 07/17/12 Diversified Industrials/Services/Paper
BWAY Corporation US$ 50.0 Bank Credit Facility Ba2 SGL-3 07/17/12 Diversified Industrials/Services/Paper
AutoNation, Inc. US$ 600.0 Bank Credit Facility Ba2 SGL-2 07/18/12 Auto/Transportation/Defense
AutoNation, Inc. US$ 700.0 Bank Credit Facility Ba2 SGL-2 07/18/12 Auto/Transportation/Defense
Toys 'R' Us-Delaware, Inc. US$ 798.0 Bank Credit Facility B1 07/19/12 Retail/Apparel
American Medical Systems Holdings, Inc. US$ 150.6 Bank Credit Facility Ba1 SGL-1 07/20/12 Healthcare/Healthcare Equipment
American Medical Systems Holdings, Inc. US$ 65.0 Bank Credit Facility Ba1 SGL-1 07/20/12 Healthcare/Healthcare Equipment
Building
RBS Global, Inc. US$ 150.0 Bank Credit Facility B1 SGL-3 07/20/12 Products/Manufacturing/Homebuilding
RedPrairie Corporation US$ 146.0 Bank Credit Facility B1 07/20/12 Telecom/Tech./Media
RedPrairie Corporation US$ 20.0 Bank Credit Facility B1 07/20/12 Telecom/Tech./Media
CCM Merger, Inc. US$ 561.0 Bank Credit Facility B3 07/21/12 Food/Entertainment/Lodging
Herbalife International, Inc. US$ 250.0 Bank Credit Facility Ba1 07/21/12 Retail/Apparel
El Pollo Loco, Inc. US$ 12.5 Bank Credit Facility B1 SGL-3 07/22/12 Food/Entertainment/Lodging
Wendy's/Arby's Restaurants, LLC US$ 252.81 Bank Credit Facility Ba2 07/25/12 Food/Entertainment/Lodging
Isle of Capri Casinos, Inc. US$ 475.0 Bank Credit Facility B1 07/26/12 Food/Entertainment/Lodging
Mega Bloks Finco US$ 249.6 Bank Credit Facility Caa3 SGL-4 07/26/12 Consumer Products
Infor Global Solutions Holdings Ltd. US$ 2735.1 Bank Credit Facility B1 07/28/12 Telecom/Tech./Media
Infor Global Solutions Holdings Ltd. US$ 150.0 Bank Credit Facility B1 07/28/12 Telecom/Tech./Media
Hyland Software, Inc. US$ 20.0 Bank Credit Facility B1 07/30/12 Telecom/Tech./Media
Rockwood Specialties Group, Inc. US$ 95.3 Bank Credit Facility Ba2 07/30/12 Energy/Natural Resources/Chemicals
Rockwood Specialties Group, Inc. US$ 139.4 Bank Credit Facility Ba2 07/30/12 Energy/Natural Resources/Chemicals
Rockwood Specialties Group, Inc. US$ 180.0 Bank Credit Facility Ba2 07/30/12 Energy/Natural Resources/Chemicals
American Safety Razor Company US$ 35.0 Bank Credit Facility B1 07/31/12 Consumer Products
Bankruptcy Management Solutions, Inc. US$ 220.0 Bank Credit Facility Ba3 07/31/12 Telecom/Tech./Media
DAE Aviation Holdings, Inc. US$ 476.2 Bank Credit Facility B3 07/31/12 Auto/Transportation/Defense
Interstate Fibernet, Inc. US$ 10.0 Bank Credit Facility B2 SGL-2 07/31/12 Telecom/Tech./Media
Shiloh Industries, Inc. US$ 95.0 Bank Credit Facility B2 07/31/12 Auto/Transportation/Defense
Consona ERP Inc. US$ 85.0 Bank Credit Facility Caa2 08/01/12 Telecom/Tech./Media
Exterran Holdings, Inc. US$ 850.0 Bank Credit Facility Ba2 SGL-2 08/01/12 Energy/Natural Resources/Chemicals
Verso Paper Holdings LLC US$ 200.0 Bank Credit Facility Ba2 SGL-2 08/01/12 Diversified Industrials/Services/Paper
Horizon Lines, Inc. US$ 114.0 Bank Credit Facility Ba3 08/08/12 Auto/Transportation/Defense
Horizon Lines, Inc. US$ 225.0 Bank Credit Facility Ba3 08/08/12 Auto/Transportation/Defense
Ameristar Casinos, Inc. US$ 600.0 Bank Credit Facility Ba2 SGL-2 08/10/12 Food/Entertainment/Lodging

35 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Building
Flowserve Corporation US$ 545.4 Bank Credit Facility Ba1 08/10/12 Products/Manufacturing/Homebuilding
Building
Flowserve Corporation US$ 400.0 Bank Credit Facility Ba1 08/10/12 Products/Manufacturing/Homebuilding
Genoa Healthcare Group, LLC US$ 86.0 Bank Credit Facility Ba3 08/10/12 Healthcare/Healthcare Equipment
Ozburn-Hessey Holding Company, LLC US$ 227.39 Bank Credit Facility B1 08/10/12 Auto/Transportation/Defense
Barrington Broadcasting Group LLC US$ 25.0 Bank Credit Facility B3 SGL-3 08/11/12 Telecom/Tech./Media
LifeCare Holdings, Inc. US$ 244.8 Bank Credit Facility B2 SGL-3 08/11/12 Healthcare/Healthcare Equipment
Savers, Inc. US$ 183.29 Bank Credit Facility Ba3 08/11/12 Retail/Apparel
Savers, Inc. US$ 25.0 Bank Credit Facility Ba3 08/11/12 Retail/Apparel
Reddy Ice Corporation US$ 240.0 Bank Credit Facility B1 08/12/12 Diversified Industrials/Services/Paper
Colt Defense LLC US$ 20.0 Bank Credit Facility Ba3 08/15/12 Auto/Transportation/Defense
PNM Resources, Inc. US$ 549.0 Bank Credit Facility Ba2 08/15/12 Utilities
Building
Texas Industries, Inc. US$ 200.0 Bank Credit Facility Ba1 08/15/12 Products/Manufacturing/Homebuilding
Cincinnati Bell Inc. US$ 210.0 Bank Credit Facility Ba2 SGL-3 08/16/12 Telecom/Tech./Media
Laureate Education, Inc. US$ 99.0 Bank Credit Facility B1 08/17/12 Diversified Industrials/Services/Paper
Ingram Micro Inc US$ 275.0 Bank Credit Facility Ba2 08/23/12 Telecom/Tech./Media
Travelport LLC US$ 300.0 Bank Credit Facility Ba3 SGL-2 08/23/12 Telecom/Tech./Media
Whole Foods Market, Inc. US$ 700.0 Bank Credit Facility Ba3 08/28/12 Retail/Apparel
Cedar Fair, L.P. US$ 504.4 Bank Credit Facility Ba3 SGL-3 08/30/12 Food/Entertainment/Lodging
Dresser-Rand Group Inc. US$ 500.0 Bank Credit Facility Ba1 SGL-3 08/30/12 Energy/Natural Resources/Chemicals
Gibraltar Industries, Inc. US$ 200.0 Bank Credit Facility Ba3 SGL-3 08/30/12 Energy/Natural Resources/Chemicals
Building
HD Supply, Inc. US$ 2100.0 Bank Credit Facility B1 SGL-2 08/30/12 Products/Manufacturing/Homebuilding
Integra Telecom Holdings, Inc. US$ 50.0 Bank Credit Facility B2 08/31/12 Telecom/Tech./Media
Hanesbrands, Inc. US$ 139.0 Bank Credit Facility Ba1 SGL-2 09/05/12 Retail/Apparel
Millennium New Jersey Holdco, LLC US$ 107.58 Bank Credit Facility Caa2 09/05/12 Telecom/Tech./Media
Millennium New Jersey Holdco, LLC US$ 15.0 Bank Credit Facility Caa2 09/05/12 Telecom/Tech./Media
Acxiom Corporation US$ 78.0 Bank Credit Facility Ba2 09/15/12 Diversified Industrials/Services/Paper
Affinion Group, Inc. US$ 648.6 Bank Credit Facility Ba2 SGL-1 09/19/12 Telecom/Tech./Media
Orthofix Holdings Inc. (US) US$ 45.0 Bank Credit Facility B1 09/22/12 Healthcare/Healthcare Equipment
Bally Technologies, Inc. US$ 200.0 Bank Credit Facility Ba2 SGL-1 09/26/12 Food/Entertainment/Lodging
Bally Technologies, Inc. US$ 75.0 Bank Credit Facility Ba2 SGL-1 09/26/12 Food/Entertainment/Lodging
Wesco Aircraft Hardware Corp. US$ 75.0 Bank Credit Facility B1 09/28/12 Auto/Transportation/Defense
Bresnan Communications, LLC US$ 65.16 Bank Credit Facility B1 09/29/12 Telecom/Tech./Media
Bresnan Communications, LLC US$ 125.0 Bank Credit Facility B1 09/29/12 Telecom/Tech./Media
National Processing Company Group, Inc. US$ 40.0 Bank Credit Facility B2 09/29/12 Telecom/Tech./Media
Alliance One International, Inc. US$ 270.0 Bank Credit Facility Ba2 SGL-3 09/30/12 Consumer Products
American Seafoods Group LLC US$ 355.0 Bank Credit Facility Ba3 09/30/12 Food/Entertainment/Lodging
Central Garden & Pet Company US$ 269.0 Bank Credit Facility B1 SGL-2 09/30/12 Consumer Products
Enterprise GP Holdings L.P. US$ 125.0 Bank Credit Facility Ba2 09/30/12 Energy/Natural Resources/Chemicals
Enterprise GP Holdings L.P. US$ 200.0 Bank Credit Facility Ba2 09/30/12 Energy/Natural Resources/Chemicals

36 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
John Henry Holdings, Inc. US$ 22.0 Bank Credit Facility B3 09/30/12 Diversified Industrials/Services/Paper
Lamar Media Corporation US$ 200.0 Bank Credit Facility Ba1 09/30/12 Telecom/Tech./Media
Lamar Media Corporation US$ 552.6 Bank Credit Facility Ba1 09/30/12 Telecom/Tech./Media
Mediacom LLC US$ 200.0 Bank Credit Facility Ba3 09/30/12 Telecom/Tech./Media
Mission Broadcasting, Inc. US$ 165.8 Bank Credit Facility B1 SGL-3 10/01/12 Telecom/Tech./Media
Nexstar Broadcasting, Inc. US$ 156.8 Bank Credit Facility B1 SGL-3 10/01/12 Telecom/Tech./Media
US Xpress Enterprises Inc. US$ 50.0 Bank Credit Facility B2 10/01/12 Auto/Transportation/Defense
Penn National Gaming, Inc. US$ 1518.1 Bank Credit Facility Ba2 10/03/12 Food/Entertainment/Lodging
Walter Energy, Inc. US$ 137.86 Bank Credit Facility Ba3 10/03/12 Energy/Natural Resources/Chemicals
Cinemark USA, Inc. US$ 150.0 Bank Credit Facility Ba3 SGL-1 10/05/12 Food/Entertainment/Lodging
Gold Toe Moretz Holdings Corp. US$ 50.0 Bank Credit Facility Caa1 10/05/12 Retail/Apparel
GXS Worldwide, Inc. US$ 50.0 Bank Credit Facility Ba3 10/05/12 Telecom/Tech./Media
MediMedia USA, Inc. US$ 50.0 Bank Credit Facility Ba3 10/05/12 Telecom/Tech./Media
Insight Midwest Holdings, LLC US$ 260.0 Bank Credit Facility B1 10/06/12 Telecom/Tech./Media
AlixPartners LLP US$ 50.0 Bank Credit Facility Ba3 10/12/12 Diversified Industrials/Services/Paper
Prometric Inc. US$ 25.0 Bank Credit Facility Ba3 10/12/12 Diversified Industrials/Services/Paper
Building
Chart Industries, Inc. US$ 80.0 Bank Credit Facility Ba2 SGL-2 10/17/12 Products/Manufacturing/Homebuilding
West Corporation US$ 250.0 Bank Credit Facility B1 SGL-2 10/24/12 Diversified Industrials/Services/Paper
X-Rite Incorporated US$ 161.2 Bank Credit Facility B2 SGL-3 10/24/12 Telecom/Tech./Media
X-Rite Incorporated US$ 40.0 Bank Credit Facility B2 SGL-3 10/24/12 Telecom/Tech./Media
Georgia-Pacific LLC US$ 1250.0 Bank Credit Facility Ba2 10/25/12 Diversified Industrials/Services/Paper
Shaw Group Inc. (The) US$ 1214.0 Bank Credit Facility Ba1 10/25/12 Energy/Natural Resources/Chemicals
Chem Rx Corporation US$ 25.0 Bank Credit Facility B3 SGL-4 10/26/12 Healthcare/Healthcare Equipment
Reynolds & Reynolds Company US$ 75.0 Bank Credit Facility Ba2 10/26/12 Telecom/Tech./Media
Reynolds & Reynolds Company US$ 1364.8 Bank Credit Facility Ba2 10/26/12 Telecom/Tech./Media
DS Waters of America, Inc. US$ 165.5 Bank Credit Facility Ba3 10/27/12 Food/Entertainment/Lodging
Brown Jordan International, Inc. US$ 35.0 Bank Credit Facility Caa1 10/30/12 Consumer Products
Building
Champion Home Builders, Co. US$ 45.2 Bank Credit Facility Caa1 SGL-4 10/31/12 Products/Manufacturing/Homebuilding
Building
Champion Home Builders, Co. US$ 43.5 Bank Credit Facility Caa1 SGL-4 10/31/12 Products/Manufacturing/Homebuilding
Palm, Inc. US$ 30.0 Bank Credit Facility B3 SGL-2 10/31/12 Telecom/Tech./Media
San Juan Cable, LLC US$ 255.36 Bank Credit Facility B1 10/31/12 Telecom/Tech./Media
Targa Resources, Inc. US$ 1250.0 Bank Credit Facility Ba3 SGL-2 10/31/12 Energy/Natural Resources/Chemicals
Building
TCO Funding Corporation US$ 189.65 Bank Credit Facility B3 10/31/12 Products/Manufacturing/Homebuilding
Emdeon Business Services US$ 50.0 Bank Credit Facility B1 11/01/12 Telecom/Tech./Media
Energy Transfer Equity, L.P. US$ 1450.0 Bank Credit Facility Ba2 11/01/12 Energy/Natural Resources/Chemicals
Michael Foods, Inc. US$ 195.0 Bank Credit Facility Ba3 11/01/12 Food/Entertainment/Lodging
Michael Foods, Inc. US$ 75.0 Bank Credit Facility Ba3 11/01/12 Food/Entertainment/Lodging
Sirius Computer Solutions, Inc. US$ 69.5 Bank Credit Facility Ba2 11/01/12 Telecom/Tech./Media
VeriFone, Inc. US$ 25.0 Bank Credit Facility Ba2 11/01/12 Telecom/Tech./Media

37 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
El Paso Corporation US$ 1500.0 Bank Credit Facility Ba2 SGL-3 11/02/12 Utilities
Emmis Operating Company US$ 20.0 Bank Credit Facility Caa2 11/02/12 Telecom/Tech./Media
Roundy's Supermarkets, Inc. US$ 95.0 Bank Credit Facility B1 11/03/12 Retail/Apparel
SS&C Technologies, Inc. US$ 197.28 Bank Credit Facility Ba3 SGL-2 11/04/12 Telecom/Tech./Media
Lear Corporation US$ 550.0 Bank Credit Facility Ba3 SGL-3 11/09/12 Auto/Transportation/Defense
Ameristar Casinos, Inc. US$ 388.0 Bank Credit Facility Ba2 SGL-2 11/10/12 Food/Entertainment/Lodging
Building
Kinetek Holdings Corp. US$ 50.0 Bank Credit Facility B3 11/10/12 Products/Manufacturing/Homebuilding
QTC Management, Inc. US$ 95.75 Bank Credit Facility B2 11/10/12 Healthcare/Healthcare Equipment
Dayco Products, LLC US$ 55.0 Bank Credit Facility Ba2 11/13/12 Auto/Transportation/Defense
Dayco Products, LLC US$ 45.0 Bank Credit Facility Ba2 11/13/12 Auto/Transportation/Defense
CITGO Petroleum Corporation US$ 613.5 Bank Credit Facility Ba1 11/15/12 Energy/Natural Resources/Chemicals
NextMedia Operating, Inc. US$ 120.0 Bank Credit Facility Caa2 11/15/12 Telecom/Tech./Media
RadNet Management, Inc. US$ 243.3 Bank Credit Facility Ba3 SGL-3 11/15/12 Healthcare/Healthcare Equipment
Building
URS Corporation US$ 680.5 Bank Credit Facility Ba1 SGL-2 11/15/12 Products/Manufacturing/Homebuilding
Building
URS Corporation US$ 700.0 Bank Credit Facility Ba1 SGL-2 11/15/12 Products/Manufacturing/Homebuilding
HCA, Inc. US$ 2000.0 Bank Credit Facility Ba2 SGL-2 11/16/12 Healthcare/Healthcare Equipment
HCA, Inc. US$ 2000.0 Bank Credit Facility Ba3 SGL-2 11/16/12 Healthcare/Healthcare Equipment
Sally Holdings, LLC US$ 105.0 Bank Credit Facility B1 SGL-2 11/16/12 Retail/Apparel
Windsor Quality Food Co. Ltd. US$ 126.90 Bank Credit Facility B1 11/16/12 Food/Entertainment/Lodging
HCA, Inc. US$ 2162.0 Bank Credit Facility Ba3 SGL-2 11/18/12 Healthcare/Healthcare Equipment
MSCI Inc. US$ 170.0 Bank Credit Facility Ba2 SGL-1 11/20/12 Diversified Industrials/Services/Paper
MSCI Inc. US$ 75.0 Bank Credit Facility Ba2 SGL-1 11/20/12 Diversified Industrials/Services/Paper
Accellent Inc. US$ 381.62 Bank Credit Facility B1 SGL-2 11/22/12 Healthcare/Healthcare Equipment
Polymer Group, Inc. US$ 18.69 Bank Credit Facility Ba3 11/22/12 Diversified Industrials/Services/Paper
Team Finance LLC US$ 409.0 Bank Credit Facility B1 SGL-1 11/23/12 Healthcare/Healthcare Equipment
Culligan International Company US$ 552.42 Bank Credit Facility B2 11/24/12 Diversified Industrials/Services/Paper
Intergraph Corporation US$ 75.0 Bank Credit Facility Ba3 11/29/12 Telecom/Tech./Media
Motorsport Aftermarket Group, Inc. US$ 60.0 Bank Credit Facility B3 11/29/12 Auto/Transportation/Defense
Allen Systems Group, Inc. US$ 10.0 Bank Credit Facility B1 11/30/12 Telecom/Tech./Media
FD Alpha Acquisition LLC US$ 102.107 Bank Credit Facility B1 11/30/12 Telecom/Tech./Media
Helix Energy Solutions Group, Inc US$ 435.0 Bank Credit Facility Ba2 SGL-2 11/30/12 Energy/Natural Resources/Chemicals
Helix Energy Solutions Group, Inc US$ 415.85 Bank Credit Facility Ba2 SGL-2 11/30/12 Energy/Natural Resources/Chemicals
Network Communications, Inc. US$ 68.75 Bank Credit Facility Ba3 SGL-3 11/30/12 Telecom/Tech./Media
Workflow Management, Inc. US$ 165.92 Bank Credit Facility Ca 11/30/12 Telecom/Tech./Media
Freescale Semiconductor, Inc. US$ 750.0 Bank Credit Facility B2 SGL-3 12/01/12 Telecom/Tech./Media
kgb US$ 277.93 Bank Credit Facility Ba2 12/01/12 Diversified Industrials/Services/Paper
Momentive Performance Materials Inc. US$ 300.0 Bank Credit Facility B1 SGL-3 12/04/12 Energy/Natural Resources/Chemicals
American Reprographics Company, L.L.C. US$ 245.78 Bank Credit Facility Ba2 12/06/12 Telecom/Tech./Media
American Reprographics Company, L.L.C. US$ 75.0 Bank Credit Facility Ba2 12/06/12 Telecom/Tech./Media

38 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Logan's Roadhouse, Inc. US$ 134.21 Bank Credit Facility Ba3 12/06/12 Food/Entertainment/Lodging
Providence Service Corporation US$ 30.0 Bank Credit Facility B1 SGL-3 12/07/12 Healthcare/Healthcare Equipment
Gibraltar Industries, Inc. US$ 58.155 Bank Credit Facility Ba3 SGL-3 12/08/12 Energy/Natural Resources/Chemicals
Total Safety U.S., Inc. US$ 9.89 Bank Credit Facility Ba3 12/08/12 Diversified Industrials/Services/Paper
Total Safety U.S., Inc. US$ 74.0 Bank Credit Facility Ba3 12/08/12 Diversified Industrials/Services/Paper
Value Creation Partners - Best Brands US$ 109.39 Bank Credit Facility B3 12/12/12 Food/Entertainment/Lodging
Value Creation Partners - Best Brands US$ 30.0 Bank Credit Facility B3 12/12/12 Food/Entertainment/Lodging
Aquilex Holdings LLC US$ 50.0 Bank Credit Facility Ba3 12/15/12 Diversified Industrials/Services/Paper
Jack in the Box Inc. US$ 415.0 Bank Credit Facility Ba3 12/15/12 Food/Entertainment/Lodging
Building
Sensus Metering Systems Inc. US$ 54.0 Bank Credit Facility Ba2 12/17/12 Products/Manufacturing/Homebuilding
Wm. Bolthouse Farms, Inc. US$ 421.5 Bank Credit Facility B1 12/17/12 Food/Entertainment/Lodging
Springs Window Fashions, LLC US$ 280.79 Bank Credit Facility B2 12/18/12 Consumer Products
Apptis (DE), Inc. US$ 88.7 Bank Credit Facility B1 12/20/12 Auto/Transportation/Defense
Quality Home Brands Holdings LLC US$ 248.0 Bank Credit Facility B2 12/20/12 Consumer Products
Sirius XM Radio Inc. US$ 245.0 Bank Credit Facility B3 SGL-3 12/20/12 Telecom/Tech./Media
TravelCLICK, Inc. US$ 15.0 Bank Credit Facility Ba3 12/20/12 Diversified Industrials/Services/Paper
Benchmark Electronics, Inc. US$ 100.0 Bank Credit Facility Ba2 12/21/12 Telecom/Tech./Media
Block Communications, Inc. US$ 110.69 Bank Credit Facility Ba1 12/22/12 Telecom/Tech./Media
Compass Minerals International, Inc US$ 394.2 Bank Credit Facility Ba2 12/22/12 Energy/Natural Resources/Chemicals
Merrill Communications LLC US$ 400.0 Bank Credit Facility B1 12/22/12 Telecom/Tech./Media
Georgia-Pacific LLC US$ 3,795 Bank Credit Facility Ba2 12/23/12 Diversified Industrials/Services/Paper
CVR Energy Inc. US$ 150.0 Bank Credit Facility B2 SGL-3 12/28/12 Energy/Natural Resources/Chemicals
Casella Waste Systems, Inc. US$ 177.5 Bank Credit Facility Ba2 12/31/12 Diversified Industrials/Services/Paper
Casella Waste Systems, Inc. US$ 130.0 Bank Credit Facility Ba2 12/31/12 Diversified Industrials/Services/Paper
CavTel Holdings, LLC US$ 390.47 Bank Credit Facility Caa2 12/31/12 Telecom/Tech./Media
EaglePicher Corporation US$ 123.44 Bank Credit Facility B1 12/31/12 Auto/Transportation/Defense
EaglePicher Corporation US$ 70.0 Bank Credit Facility B1 12/31/12 Auto/Transportation/Defense
Mediacom Broadband LLC US$ 650.0 Bank Credit Facility Ba3 12/31/12 Telecom/Tech./Media
RedPrairie Corporation US$ 70.0 Bank Credit Facility Caa1 01/01/13 Telecom/Tech./Media
Mirant North America, LLC US$ 374.0 Bank Credit Facility Ba2 01/03/13 Utilities
tw telecom holdings inc. US$ 583.5 Bank Credit Facility Ba1 01/07/13 Telecom/Tech./Media
Harrington Holdings, Inc. US$ 45.0 Bank Credit Facility B1 01/11/13 Healthcare/Healthcare Equipment
RiskMetrics Group Holdings LLC US$ 25.0 Bank Credit Facility Ba3 01/11/13 Diversified Industrials/Services/Paper
Totes Isotoner Corporation US$ 105.48 Bank Credit Facility Caa1 01/16/13 Retail/Apparel
Open Solutions, Inc. US$ 75.0 Bank Credit Facility B1 01/23/13 Telecom/Tech./Media
AMC Entertainment, Inc. US$ 625.0 Bank Credit Facility Ba2 SGL-1 01/26/13 Food/Entertainment/Lodging
AMC Entertainment, Inc. US$ 200.0 Bank Credit Facility Ba2 SGL-1 01/26/13 Food/Entertainment/Lodging
ARAMARK Corporation US$ 600.0 Bank Credit Facility Ba3 SGL-2 01/26/13 Diversified Industrials/Services/Paper
Weight Watchers International, Inc. US$ 621.2 Bank Credit Facility Ba1 01/26/13 Healthcare/Healthcare Equipment
Cracker Barrel Old Country Store, Inc. US$ 165.0 Bank Credit Facility Ba3 01/27/13 Food/Entertainment/Lodging

39 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
American Media Operations, Inc. US$ 435.12 Bank Credit Facility B3 01/30/13 Telecom/Tech./Media
Sitel LLC US$ 85.0 Bank Credit Facility B3 01/30/13 Telecom/Tech./Media
Cohr Holdings, Inc. US$ 136.5 Bank Credit Facility Caa1 01/31/13 Healthcare/Healthcare Equipment
Cohr Holdings, Inc. US$ 20.0 Bank Credit Facility Caa1 01/31/13 Healthcare/Healthcare Equipment
Building
Contech Construction Products, Inc. US$ 424.58 Bank Credit Facility B1 01/31/13 Products/Manufacturing/Homebuilding
Dana Holding Corporation US$ 650.0 Bank Credit Facility B3 SGL-3 01/31/13 Auto/Transportation/Defense
On Assignment, Inc. US$ 82.91 Bank Credit Facility Ba3 SGL-2 01/31/13 Diversified Industrials/Services/Paper
Penton Media Inc. US$ 80.0 Bank Credit Facility Caa1 01/31/13 Telecom/Tech./Media
Sbarro, Inc. US$ 21.5 Bank Credit Facility Caa1 SGL-4 01/31/13 Food/Entertainment/Lodging
Penton Media Inc. US$ 606.1 Bank Credit Facility Caa1 02/01/13 Telecom/Tech./Media
Verso Paper Finance Holdings LLC US$ 78.099 Bank Credit Facility Caa1 02/01/13 Diversified Industrials/Services/Paper
Building
WasteQuip, Inc. US$ 322.0 Bank Credit Facility B2 02/05/13 Products/Manufacturing/Homebuilding
Yankee Candle Company, Inc, The US$ 115.0 Bank Credit Facility Ba3 SGL-2 02/05/13 Retail/Apparel
Alion Science and Technology Corp US$ 232.06 Bank Credit Facility B2 SGL-4 02/06/13 Auto/Transportation/Defense
Cenveo Corporation US$ 563.5 Bank Credit Facility Ba3 SGL-3 02/06/13 Diversified Industrials/Services/Paper
Cenveo Corporation US$ 125.0 Bank Credit Facility Ba3 SGL-3 02/06/13 Diversified Industrials/Services/Paper
CRC Health Corporation US$ 407.0 Bank Credit Facility Ba3 SGL-3 02/06/13 Healthcare/Healthcare Equipment
Hit Entertainment, Inc. US$ 172.0 Bank Credit Facility Caa2 02/06/13 Telecom/Tech./Media
Building
Brand Energy & Infrastructure Services, Inc. US$ 125.0 Bank Credit Facility B1 02/07/13 Products/Manufacturing/Homebuilding
WP Evenflo Holdings, Inc. US$ 40.0 Bank Credit Facility B2 02/07/13 Consumer Products
WP Evenflo Holdings, Inc. US$ 121.0 Bank Credit Facility B2 02/07/13 Consumer Products
Covanta Energy Corporation* US$ 300.0 Bank Credit Facility Ba1 SGL-1 02/09/13 Utilities
ProQuest LLC US$ 40.0 Bank Credit Facility Ba3 02/09/13 Telecom/Tech./Media
Invacare Corp. US$ 50.0 Bank Credit Facility Ba2 SGL-1 02/12/13 Healthcare/Healthcare Equipment
National CineMedia, LLC US$ 80.0 Bank Credit Facility Ba3 SGL-2 02/13/13 Telecom/Tech./Media
Global Tel*Link Corporation US$ 20.0 Bank Credit Facility B1 02/14/13 Telecom/Tech./Media
Global Tel*Link Corporation US$ 131.97 Bank Credit Facility B1 02/14/13 Telecom/Tech./Media
Global Tel*Link Corporation US$ 45.0 Bank Credit Facility B1 02/14/13 Telecom/Tech./Media
Vangent, Inc. US$ 230.37 Bank Credit Facility Ba3 SGL-3 02/14/13 Diversified Industrials/Services/Paper
Krispy Kreme Doughnut Corporation US$ 25.0 Bank Credit Facility B3 SGL-3 02/16/13 Food/Entertainment/Lodging
DeCrane Aerospace, Inc. US$ 180.54 Bank Credit Facility B2 02/21/13 Auto/Transportation/Defense
DeCrane Aerospace, Inc. US$ 10.0 Bank Credit Facility B2 02/21/13 Auto/Transportation/Defense
Radiation Therapy Services, Inc. US$ 60.0 Bank Credit Facility B1 02/21/13 Healthcare/Healthcare Equipment
Boise Paper Holdings LLC US$ 206.875 Bank Credit Facility Ba3 SGL-2 02/22/13 Diversified Industrials/Services/Paper
Boise Paper Holdings LLC US$ 250.0 Bank Credit Facility Ba3 SGL-2 02/22/13 Diversified Industrials/Services/Paper
B&G Foods, Inc. US$ 25.0 Bank Credit Facility Ba2 02/26/13 Food/Entertainment/Lodging
B&G Foods, Inc. US$ 130.0 Bank Credit Facility Ba2 02/26/13 Food/Entertainment/Lodging
AZ Chem US, Inc. US$ 150.0 Bank Credit Facility B1 02/28/13 Energy/Natural Resources/Chemicals
Health Management Associates, Inc. US$ 500.0 Bank Credit Facility B1 02/28/13 Healthcare/Healthcare Equipment

40 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
National Bedding Company, LLC US$ 415.0 Bank Credit Facility B1 02/28/13 Consumer Products
PAETEC Holding Corp. US$ 240.86 Bank Credit Facility B1 SGL-1 02/28/13 Telecom/Tech./Media
Solutia Inc. US$ 400.0 Bank Credit Facility Ba1 SGL-2 02/28/13 Energy/Natural Resources/Chemicals
Delta Air Lines, Inc. US$ 500.0 Bank Credit Facility Ba2 SGL-2 03/01/13 Auto/Transportation/Defense
Rock-Tenn Company US$ 450.0 Bank Credit Facility Ba1 SGL-2 03/05/13 Diversified Industrials/Services/Paper
Rock-Tenn Company US$ 525.0 Bank Credit Facility Ba1 SGL-2 03/05/13 Diversified Industrials/Services/Paper
Charter Communications Operating, LLC US$ 1500.0 Bank Credit Facility Ba2 03/06/13 Telecom/Tech./Media
Network Solutions, LLC US$ 25.0 Bank Credit Facility B1 03/07/13 Telecom/Tech./Media
Dave & Buster's, Inc. US$ 67.5 Bank Credit Facility Ba2 SGL-3 03/08/13 Food/Entertainment/Lodging
Hanley Wood LLC US$ 22.5 Bank Credit Facility Caa1 03/08/13 Telecom/Tech./Media
Tegrant Corporation US$ 50.0 Bank Credit Facility Caa1 03/08/13 Diversified Industrials/Services/Paper
Newark Group, Inc. (The) US$ 15.33 Bank Credit Facility Caa2 SGL-4 03/09/13 Diversified Industrials/Services/Paper
DTN, Inc. US$ 200.2 Bank Credit Facility B1 03/10/13 Telecom/Tech./Media
HealthSouth Corporation US$ 453.2 Bank Credit Facility Ba3 SGL-2 03/10/13 Healthcare/Healthcare Equipment
Serena Software, Inc. US$ 318.0 Bank Credit Facility B1 SGL-2 03/10/13 Telecom/Tech./Media
Destination Maternity Corporation US$ 59.98 Bank Credit Facility B2 03/13/13 Retail/Apparel
Philosophy, Inc. US$ 35.0 Bank Credit Facility B2 03/16/13 Consumer Products
Affiliated Computer Services, Inc. US$ 1740.0 Bank Credit Facility Ba2 SGL-1 03/20/13 Telecom/Tech./Media
Atlantic Marine Holding Company US$ 45.0 Bank Credit Facility B2 03/22/13 Auto/Transportation/Defense
Hawker Beechcraft Acquisition Company
LLC US$ 240.0 Bank Credit Facility B3 SGL-3 03/26/13 Auto/Transportation/Defense
CKE Restaurants, Inc. US$ 248.77 Bank Credit Facility Ba2 SGL-3 03/27/13 Food/Entertainment/Lodging
Ikaria Holdings, Inc. US$ 176.1 Bank Credit Facility B1 03/27/13 Healthcare/Healthcare Equipment
Cambium Learning, Inc. US$ 101.6 Bank Credit Facility Caa1 03/28/13 Telecom/Tech./Media
Cambium Learning, Inc. US$ 30.0 Bank Credit Facility Caa1 03/28/13 Telecom/Tech./Media
Entravision Communications Corporation US$ 361.9 Bank Credit Facility B1 03/29/13 Telecom/Tech./Media
Sagittarius Restaurants LLC US$ 260.49 Bank Credit Facility B2 03/29/13 Food/Entertainment/Lodging
Celanese U.S. Holdings LLC US$ 600.0 Bank Credit Facility Ba2 SGL-1 03/30/13 Energy/Natural Resources/Chemicals
Sabre Inc. US$ 500.0 Bank Credit Facility B1 03/30/13 Telecom/Tech./Media
Synagro Technologies, Inc. US$ 100.0 Bank Credit Facility B3 03/30/13 Diversified Industrials/Services/Paper
Caribe Media Inc. US$ 125.1 Bank Credit Facility B2 03/31/13 Telecom/Tech./Media
FiberVisions Delaware Corporation US$ 45.41 Bank Credit Facility B1 03/31/13 Energy/Natural Resources/Chemicals
Gentiva Health Services, Inc. US$ 237.0 Bank Credit Facility Ba3 SGL-2 03/31/13 Healthcare/Healthcare Equipment
GXS Worldwide, Inc. US$ 285.7 Bank Credit Facility Ba3 03/31/13 Telecom/Tech./Media
Lamar Media Corporation US$ 243.75 Bank Credit Facility Ba1 03/31/13 Telecom/Tech./Media
Nuance Communications, Inc. US$ 650.3 Bank Credit Facility Ba3 SGL-1 03/31/13 Telecom/Tech./Media
Protection One Alarm Monitoring, Inc. US$ 15.0 Bank Credit Facility Ba2 03/31/13 Diversified Industrials/Services/Paper
Protection One Alarm Monitoring, Inc. US$ 15.0 Bank Credit Facility Ba3 03/31/13 Diversified Industrials/Services/Paper
Quintiles Transnational Corp. US$ 962.6 Bank Credit Facility B1 03/31/13 Healthcare/Healthcare Equipment
Keane International, Inc. US$ 580.0 Bank Credit Facility B2 04/01/13 Telecom/Tech./Media
Keane International, Inc. US$ 45.0 Bank Credit Facility B2 04/01/13 Telecom/Tech./Media

41 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Keane International, Inc. US$ 50.0 Bank Credit Facility B2 04/01/13 Telecom/Tech./Media
Dynegy Holdings Inc. US$ 70.0 Bank Credit Facility Ba2 SGL-3 04/02/13 Utilities
Dynegy Holdings Inc. US$ 850.0 Bank Credit Facility Ba2 SGL-3 04/02/13 Utilities
Pinnacle Foods Finance LLC US$ 125.0 Bank Credit Facility B2 SGL-2 04/02/13 Food/Entertainment/Lodging
American Greetings Corporation US$ 98.75 Bank Credit Facility Ba1 SGL-2 04/04/13 Consumer Products
Lodgenet Interactive Corporation US$ 50.0 Bank Credit Facility B3 SGL-3 04/04/13 Telecom/Tech./Media
Amsted Industries Incorporated US$ 211.18 Bank Credit Facility Ba3 04/05/13 Auto/Transportation/Defense
Amsted Industries Incorporated US$ 200.0 Bank Credit Facility Ba3 04/05/13 Auto/Transportation/Defense
Neiman Marcus Group, Inc.(The) US$ 1625.0 Bank Credit Facility B3 SGL-2 04/06/13 Retail/Apparel
Catalent Pharma Solutions, Inc. US$ 350.0 Bank Credit Facility Ba3 04/10/13 Diversified Industrials/Services/Paper
Realogy Corporation US$ 750.0 Bank Credit Facility Caa1 SGL-4 04/10/13 Diversified Industrials/Services/Paper
CapRock Communications Inc. US$ 65.0 Bank Credit Facility B3 04/11/13 Telecom/Tech./Media
BioReliance Corporation US$ 15.0 Bank Credit Facility B2 04/12/13 Healthcare/Healthcare Equipment
ConMed Corporation US$ 56.0 Bank Credit Facility Ba1 04/12/13 Healthcare/Healthcare Equipment
Dole Food Company, Inc. US$ 120.0 Bank Credit Facility Ba2 04/12/13 Food/Entertainment/Lodging
Dole Food Company, Inc. US$ 100.0 Bank Credit Facility Ba2 04/12/13 Food/Entertainment/Lodging
MacDermid Inc. US$ 50.0 Bank Credit Facility B2 04/12/13 Energy/Natural Resources/Chemicals
Multiplan, Inc. US$ 558.71 Bank Credit Facility B1 04/12/13 Healthcare/Healthcare Equipment
Solvest Ltd. US$ 626.2 Bank Credit Facility Ba2 04/12/13 Food/Entertainment/Lodging
Attachmate Corporation US$ 392.62 Bank Credit Facility B1 04/13/13 Telecom/Tech./Media
Hunter Fan Company US$ 60.0 Bank Credit Facility B2 04/16/13 Consumer Products
Building
Itron, Inc. US$ 115.0 Bank Credit Facility Ba3 04/18/13 Products/Manufacturing/Homebuilding
KAR Holdings, Inc. US$ 300.0 Bank Credit Facility Ba3 SGL-3 04/19/13 Diversified Industrials/Services/Paper
Sun Healthcare Group, Inc. US$ 50.0 Bank Credit Facility Ba2 SGL-2 04/19/13 Healthcare/Healthcare Equipment
United Surgical Partners International, Inc. US$ 85.0 Bank Credit Facility Ba3 04/19/13 Healthcare/Healthcare Equipment
Coach America Holdings, Inc. US$ 30.0 Bank Credit Facility B2 04/20/13 Auto/Transportation/Defense
Deltek, Inc. US$ 129.4 Bank Credit Facility B1 SGL-1 04/22/13 Telecom/Tech./Media
Deltek, Inc. US$ 22.5 Bank Credit Facility B1 SGL-1 04/22/13 Telecom/Tech./Media
Vi-Jon, Inc. US$ 30.0 Bank Credit Facility B1 04/24/13 Consumer Products
Sun Products Corporation US$ 125.0 Bank Credit Facility Ba2 04/26/13 Consumer Products
Cracker Barrel Old Country Store, Inc. US$ 365.0 Bank Credit Facility Ba3 04/27/13 Food/Entertainment/Lodging
Cracker Barrel Old Country Store, Inc. US$ 28.0 Bank Credit Facility Ba3 04/27/13 Food/Entertainment/Lodging
IASIS Healthcare LLC US$ 225.0 Bank Credit Facility Ba2 04/27/13 Healthcare/Healthcare Equipment
Insignia Vessel Acquisition, LLC US$ 300.0 Bank Credit Facility Ba3 04/27/13 Food/Entertainment/Lodging
AGA Medical Corporation US$ 197.0 Bank Credit Facility B2 04/28/13 Healthcare/Healthcare Equipment
Kansas City Southern Railway Company
(The) US$ 246.1 Bank Credit Facility Ba2 04/28/13 Auto/Transportation/Defense
Kansas City Southern Railway Company
(The) US$ 75.0 Bank Credit Facility Ba2 04/28/13 Auto/Transportation/Defense
Carestream Health US$ 1310.0 Bank Credit Facility Ba2 04/30/13 Healthcare/Healthcare Equipment
GenCorp Inc. US$ 68.4 Bank Credit Facility Ba3 04/30/13 Auto/Transportation/Defense

42 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
GenCorp Inc. US$ 125.0 Bank Credit Facility Ba3 04/30/13 Auto/Transportation/Defense
Iconix Brand Group, Inc. US$ 217.20 Bank Credit Facility Ba1 SGL-2 04/30/13 Retail/Apparel
RGIS Holdings LLC US$ 75.0 Bank Credit Facility B1 04/30/13 Diversified Industrials/Services/Paper
Audatex North America, Inc. US$ 50.0 Bank Credit Facility Ba3 05/01/13 Diversified Industrials/Services/Paper
Sirius Computer Solutions, Inc. US$ 55.0 Bank Credit Facility B2 05/01/13 Telecom/Tech./Media
TransFirst Holdings, Inc. US$ 50.0 Bank Credit Facility B2 05/01/13 Telecom/Tech./Media
Activant Solutions Inc. US$ 418.6 Bank Credit Facility B1 SGL-3 05/02/13 Telecom/Tech./Media
Rovi Corporation US$ 257.2 Bank Credit Facility Ba1 SGL-2 05/02/13 Telecom/Tech./Media
Unifrax LLC 1 US$ 177.73 Bank Credit Facility B2 05/02/13 Energy/Natural Resources/Chemicals
Graceway Pharmaceuticals, LLC US$ 330.0 Bank Credit Facility Caa1 05/03/13 Healthcare/Healthcare Equipment
NPC International, Inc. US$ 258.71 Bank Credit Facility Ba3 SGL-3 05/03/13 Food/Entertainment/Lodging
TSA Stores, Inc. US$ 267.0 Bank Credit Facility B3 05/03/13 Retail/Apparel
Dresser, Inc. US$ 140.0 Bank Credit Facility B2 05/04/13 Energy/Natural Resources/Chemicals
Dresser, Inc. US$ 1262.0 Bank Credit Facility B2 05/04/13 Energy/Natural Resources/Chemicals
Cequel Communications, LLC US$ 200.0 Bank Credit Facility Ba3 05/05/13 Telecom/Tech./Media
CMP Susquehanna Corp US$ 625.63 Bank Credit Facility Caa3 SGL-4 05/05/13 Telecom/Tech./Media
Building
Electrical Components International, Inc. US$ 223.0 Bank Credit Facility Caa2 05/05/13 Products/Manufacturing/Homebuilding
Hexion Specialty Chemicals Inc. US$ 50.0 Bank Credit Facility B1 SGL-3 05/05/13 Food/Entertainment/Lodging
Hexion Specialty Chemicals Inc. US$ 2219.0 Bank Credit Facility B1 SGL-3 05/05/13 Food/Entertainment/Lodging
Local TV Finance, LLC US$ 268.81 Bank Credit Facility B3 05/07/13 Telecom/Tech./Media
Local TV Finance, LLC US$ 30.0 Bank Credit Facility B3 05/07/13 Telecom/Tech./Media
U.S. Security Holdings, Inc. US$ 18.27 Bank Credit Facility Ba3 05/08/13 Diversified Industrials/Services/Paper
U.S. Security Holdings, Inc. US$ 115.8 Bank Credit Facility Ba3 05/08/13 Diversified Industrials/Services/Paper
TRW Automotive Inc. US$ 382.0 Bank Credit Facility Ba3 SGL-3 05/09/13 Auto/Transportation/Defense
iPayment Inc. US$ 447.6 Bank Credit Facility B1 SGL-3 05/10/13 Telecom/Tech./Media
AFC Enterprises, Inc. US$ 84.30 Bank Credit Facility Ba3 SGL-3 05/11/13 Food/Entertainment/Lodging
Deluxe Entertainment Services Group, Inc. US$ 480.0 Bank Credit Facility Ba3 05/11/13 Telecom/Tech./Media
Deluxe Entertainment Services Group, Inc. US$ 25.0 Bank Credit Facility Ba3 05/11/13 Telecom/Tech./Media
Sungard Data Systems Inc. US$ 580.0 Bank Credit Facility Ba3 SGL-2 05/11/13 Telecom/Tech./Media
Kraton Polymers LLC US$ 322.57 Bank Credit Facility B1 05/12/13 Energy/Natural Resources/Chemicals
Niska Gas Storage US, LLC US$ 175.0 Bank Credit Facility Ba3 05/12/13 Energy/Natural Resources/Chemicals
IPC Systems, Inc. US$ 75.0 Bank Credit Facility B1 05/13/13 Telecom/Tech./Media
TSI Acquisition, LLC US$ 122.0 Bank Credit Facility B3 05/13/13 Energy/Natural Resources/Chemicals
AGS, LLC US$ 20.0 Bank Credit Facility Caa2 05/14/13 Telecom/Tech./Media
AGS, LLC US$ 118.0 Bank Credit Facility Caa2 05/14/13 Telecom/Tech./Media
AGS, LLC US$ 17.0 Bank Credit Facility Caa2 05/14/13 Telecom/Tech./Media
SkillSoft Corporation US$ 84.57 Bank Credit Facility B1 SGL-1 05/14/13 Telecom/Tech./Media
J. Crew Operating Corp. US$ 99.74 Bank Credit Facility Ba2 05/15/13 Retail/Apparel
NCO Group, Inc. US$ 569.1 Bank Credit Facility Ba3 SGL-3 05/15/13 Diversified Industrials/Services/Paper
Pantry Inc., The US$ 225.0 Bank Credit Facility B1 05/15/13 Retail/Apparel

43 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
RadNet Management, Inc. US$ 170.0 Bank Credit Facility Caa1 SGL-3 05/15/13 Healthcare/Healthcare Equipment
Building
URS Corporation US$ 187.5 Bank Credit Facility Ba1 SGL-2 05/15/13 Products/Manufacturing/Homebuilding
Graphic Packaging International Inc. US$ 400.0 Bank Credit Facility Ba3 SGL-3 05/16/13 Diversified Industrials/Services/Paper
Cannery Casino Resorts, LLC US$ 220.0 Bank Credit Facility B3 05/18/13 Food/Entertainment/Lodging
Cannery Casino Resorts, LLC US$ 182.0 Bank Credit Facility B3 05/18/13 Food/Entertainment/Lodging
Noranda Aluminum Acquisition
Corporation US$ 242.7 Bank Credit Facility B2 05/18/13 Energy/Natural Resources/Chemicals
Kinetic Concepts, Inc. US$ 800.0 Bank Credit Facility Ba1 05/19/13 Healthcare/Healthcare Equipment
Kinetic Concepts, Inc. US$ 300.0 Bank Credit Facility Ba1 05/19/13 Healthcare/Healthcare Equipment
Douglas Dynamics, L.L.C. US$ 82.8 Bank Credit Facility Ba2 05/21/13 Auto/Transportation/Defense
Hexcel Corporation US$ 125.0 Bank Credit Facility Ba1 05/21/13 Auto/Transportation/Defense
Central Parking Corporation US$ 80.0 Bank Credit Facility Ba2 05/22/13 Diversified Industrials/Services/Paper
SafeNet, Inc. US$ 25.0 Bank Credit Facility B1 05/22/13 Telecom/Tech./Media
Venetian Casino Resort, LLC US$ 397.0 Bank Credit Facility B3 05/23/13 Food/Entertainment/Lodging
Culligan International Company US$ 256.11 Bank Credit Facility Caa2 05/24/13 Diversified Industrials/Services/Paper
Amscan Holdings, Inc. US$ 365.63 Bank Credit Facility B1 05/25/13 Retail/Apparel
RCN Corporation US$ 75.0 Bank Credit Facility B1 SGL-3 05/25/13 Telecom/Tech./Media
Hanger Orthopedic Group, Inc. US$ 222.53 Bank Credit Facility Ba2 05/26/13 Healthcare/Healthcare Equipment
Burlington Coat Factory Warehouse Corp US$ 865.0 Bank Credit Facility B3 SGL-3 05/28/13 Retail/Apparel
Claire's Stores, Inc. US$ 200.0 Bank Credit Facility Caa2 SGL-4 05/29/13 Retail/Apparel
Knight Inc. US$ 1000.0 Bank Credit Facility Ba1 05/30/13 Energy/Natural Resources/Chemicals
Bonten Media Group, Inc. US$ 15.0 Bank Credit Facility B1 05/31/13 Telecom/Tech./Media
Hamilton Beach Brands, Inc. US$ 112.0 Bank Credit Facility B1 05/31/13 Consumer Products
Smart & Final Stores Corp. US$ 150.0 Bank Credit Facility Ba2 05/31/13 Retail/Apparel
Education Management LLC US$ 1123.87 Bank Credit Facility B1 SGL-1 06/01/13 Consumer Products
Exterran Holdings, Inc. US$ 790.0 Bank Credit Facility Ba2 SGL-2 06/01/13 Energy/Natural Resources/Chemicals
Kronos Incorporated US$ 666.0 Bank Credit Facility Ba3 06/01/13 Telecom/Tech./Media
Building
Sensus Metering Systems Inc. US$ 166.2 Bank Credit Facility Ba2 06/03/13 Products/Manufacturing/Homebuilding
ISP Chemco LLC US$ 275.0 Bank Credit Facility Ba3 06/04/13 Energy/Natural Resources/Chemicals
Appleton Papers Inc. US$ 219.94 Bank Credit Facility Ba3 SGL-4 06/05/13 Diversified Industrials/Services/Paper
Constellation Brands, Inc. US$ 1228.0 Bank Credit Facility Ba3 SGL-2 06/05/13 Food/Entertainment/Lodging
FleetPride Corporation US$ 145.0 Bank Credit Facility Ba3 06/06/13 Auto/Transportation/Defense
AMF Bowling Worldwide, Inc. US$ 239.62 Bank Credit Facility B1 06/07/13 Diversified Industrials/Services/Paper
AMF Bowling Worldwide, Inc. US$ 80.0 Bank Credit Facility Caa2 06/07/13 Diversified Industrials/Services/Paper
Duratek, Inc. US$ 187.0 Bank Credit Facility Ba2 06/07/13 Diversified Industrials/Services/Paper
EnergySolutions, LLC US$ 390.0 Bank Credit Facility Ba2 SGL-2 06/07/13 Diversified Industrials/Services/Paper
United Rentals (North America), Inc. US$ 1285.0 Bank Credit Facility Ba2 SGL-3 06/07/13 Auto/Transportation/Defense
Atlantic Broadband Finance, LLC US$ 322.7 Bank Credit Facility B1 SGL-2 06/08/13 Telecom/Tech./Media
Packaging Dynamics Corporation US$ 125.78 Bank Credit Facility B1 06/09/13 Diversified Industrials/Services/Paper
Citadel Broadcasting Corporation US$ 527.16 Bank Credit Facility Caa3 SGL-4 06/12/13 Telecom/Tech./Media

44 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Citadel Broadcasting Corporation US$ 140.0 Bank Credit Facility Caa3 SGL-4 06/12/13 Telecom/Tech./Media
Educate, Inc. US$ 12.0 Bank Credit Facility Ba3 06/14/13 Diversified Industrials/Services/Paper
OSI Restaurant Partners, Inc. US$ 100.0 Bank Credit Facility B3 SGL-3 06/14/13 Food/Entertainment/Lodging
OSI Restaurant Partners, Inc. US$ 150.0 Bank Credit Facility B3 SGL-3 06/14/13 Food/Entertainment/Lodging
Dollar Thrifty Automotive Group, Inc. US$ 231.3 Bank Credit Facility Caa3 SGL-4 06/15/13 Auto/Transportation/Defense
Intralinks, Inc. US$ 15.0 Bank Credit Facility B1 06/15/13 Telecom/Tech./Media
Koosharem Corporation US$ 390.0 Bank Credit Facility B3 06/15/13 Diversified Industrials/Services/Paper
Sheridan Holdings, Inc. US$ 75.0 Bank Credit Facility B1 06/15/13 Healthcare/Healthcare Equipment
Water Pik, Inc. US$ 59.0 Bank Credit Facility B1 06/15/13 Consumer Products
CTI Foods Holding Co, LLC US$ 130.64 Bank Credit Facility B2 06/18/13 Food/Entertainment/Lodging
JHCI Acquisition, Inc. US$ 30.0 Bank Credit Facility B1 06/19/13 Auto/Transportation/Defense
Quality Home Brands Holdings LLC US$ 100.0 Bank Credit Facility Caa2 06/20/13 Consumer Products
Gavilon Group LLC, The US$ 1750.0 Bank Credit Facility Ba1 06/23/13 Food/Entertainment/Lodging
Interline Brands, Inc. US$ 32.86 Bank Credit Facility Ba3 06/23/13 Diversified Industrials/Services/Paper
Interline Brands, Inc. US$ 128.0 Bank Credit Facility Ba3 06/23/13 Diversified Industrials/Services/Paper
TransDigm Inc. US$ 780.0 Bank Credit Facility Ba2 06/23/13 Auto/Transportation/Defense
Concentra Inc. US$ 75.0 Bank Credit Facility Ba3 06/25/13 Healthcare/Healthcare Equipment
Learning Care Group, Inc. US$ 40.0 Bank Credit Facility Ba3 06/25/13 Diversified Industrials/Services/Paper
Viant Holdings, Inc. US$ 50.0 Bank Credit Facility Ba3 06/25/13 Diversified Industrials/Services/Paper
Fairchild Semiconductor Corporation US$ 150.0 Bank Credit Facility Ba2 SGL-1 06/26/13 Telecom/Tech./Media
Fairchild Semiconductor Corporation US$ 352.5 Bank Credit Facility Ba2 SGL-1 06/26/13 Telecom/Tech./Media
Inverness Medical Innovations, Inc. US$ 150.0 Bank Credit Facility Ba2 SGL-2 06/26/13 Healthcare/Healthcare Equipment
EnerSys US$ 125.0 Bank Credit Facility Ba1 06/27/13 Diversified Industrials/Services/Paper
Texas Petrochemicals LLC US$ 280.0 Bank Credit Facility B1 06/27/13 Energy/Natural Resources/Chemicals
Harland Clarke Holdings Corp. US$ 100.0 Bank Credit Facility B1 SGL-2 06/28/13 Telecom/Tech./Media
Surgical Care Affiliates US$ 125.0 Bank Credit Facility Ba3 SGL-2 06/28/13 Healthcare/Healthcare Equipment
Triumph Healthcare Second Holdings, LLC US$ 278.25 Bank Credit Facility B1 06/28/13 Healthcare/Healthcare Equipment
WideOpenWest Finance, LLC US$ 100.0 Bank Credit Facility B1 06/28/13 Telecom/Tech./Media
Youth & Family Centered Services, Inc. US$ 91.76 Bank Credit Facility B1 06/28/13 Healthcare/Healthcare Equipment
Building
Euramax International, Inc. US$ 262.69 Bank Credit Facility Caa1 06/29/13 Products/Manufacturing/Homebuilding
Building
Euramax International, Inc. US$ 257.979 Bank Credit Facility Caa1 06/29/13 Products/Manufacturing/Homebuilding
Gabriel Communications Finance Company US$ 10.0 Bank Credit Facility B2 06/29/13 Telecom/Tech./Media
Hargray Communications Group, Inc. US$ 25.0 Bank Credit Facility B1 06/29/13 Telecom/Tech./Media
United Site Services, Inc. US$ 265.0 Bank Credit Facility Caa3 06/29/13 Diversified Industrials/Services/Paper
VWR Funding, Inc. US$ 250.0 Bank Credit Facility B1 SGL-3 06/29/13 Healthcare/Healthcare Equipment
Awesome Acquisition Company, LP US$ 95.58 Bank Credit Facility B1 06/30/13 Food/Entertainment/Lodging
Golden Nugget, Inc. US$ 47.0 Bank Credit Facility Caa3 06/30/13 Food/Entertainment/Lodging
National MENTOR Holdings, Inc. US$ 324.4 Bank Credit Facility Ba3 06/30/13 Healthcare/Healthcare Equipment
National MENTOR Holdings, Inc. US$ 20.0 Bank Credit Facility Ba3 06/30/13 Healthcare/Healthcare Equipment
QVC, Inc. US$ 254.1 Bank Credit Facility Ba2 06/30/13 Telecom/Tech./Media

45 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Rainbow National Services LLC US$ 456.25 Bank Credit Facility Ba1 SGL-1 06/30/13 Telecom/Tech./Media
Standard Steel, LLC US$ 25.13 Bank Credit Facility Caa2 06/30/13 Auto/Transportation/Defense
Value Creation Partners - Best Brands US$ 94.89 Bank Credit Facility Caa2 06/30/13 Food/Entertainment/Lodging
Express Energy Services Operating, LP US$ 301.0 Bank Credit Facility Ca 07/02/13 Energy/Natural Resources/Chemicals
Express Energy Services Operating, LP US$ 35.0 Bank Credit Facility Ca 07/02/13 Energy/Natural Resources/Chemicals
Getty Images, Inc. US$ 75.0 Bank Credit Facility Ba2 07/02/13 Diversified Industrials/Services/Paper
Solo Cup Company US$ 200.0 Bank Credit Facility Ba2 SGL-2 07/02/13 Diversified Industrials/Services/Paper
Polypore, Inc. US$ 90.0 Bank Credit Facility Ba2 07/03/13 Auto/Transportation/Defense
U.S. Foodservice, Inc. US$ 1100.0 Bank Credit Facility B2 07/03/13 Retail/Apparel
Cengage Learning Acquisitions, Inc. US$ 300.0 Bank Credit Facility B2 SGL-3 07/05/13 Telecom/Tech./Media
Intelsat Subsidiary Holding Company US$ 336.0 Bank Credit Facility B1 SGL-3 07/05/13 Telecom/Tech./Media
Center Cut Hospitality, Inc. US$ 20.0 Bank Credit Facility B3 SGL-4 07/06/13 Food/Entertainment/Lodging
inVentiv Health, Inc. US$ 50.0 Bank Credit Facility Ba3 SGL-1 07/06/13 Diversified Industrials/Services/Paper
Harlan Laboratories, Inc. US$ 15.0 Bank Credit Facility B2 07/11/13 Healthcare/Healthcare Equipment
Hercules Offshore, Inc. US$ 866.0 Bank Credit Facility B2 07/11/13 Energy/Natural Resources/Chemicals
Building
LN Acquisition Corp. US$ 25.0 Bank Credit Facility B1 07/11/13 Products/Manufacturing/Homebuilding
SOURCECORP, Incorporated US$ 165.9 Bank Credit Facility B1 07/12/13 Diversified Industrials/Services/Paper
Building
IPS Corporation US$ 67.85 Bank Credit Facility B1 07/13/13 Products/Manufacturing/Homebuilding
Rain CII Carbon LLC US$ 40.0 Bank Credit Facility B1 07/14/13 Energy/Natural Resources/Chemicals
Rain CII Carbon LLC US$ 105.0 Bank Credit Facility B1 07/14/13 Energy/Natural Resources/Chemicals
Building
Terex Corporation US$ 272.3 Bank Credit Facility Ba2 SGL-3 07/14/13 Products/Manufacturing/Homebuilding
DJO Finance LLC US$ 100.0 Bank Credit Facility Ba3 SGL-3 07/15/13 Healthcare/Healthcare Equipment
BWAY Corporation US$ 153.8 Bank Credit Facility Ba2 SGL-3 07/17/13 Diversified Industrials/Services/Paper
Building
RBS Global, Inc. US$ 765.0 Bank Credit Facility B1 SGL-3 07/19/13 Products/Manufacturing/Homebuilding
NES Rentals Holdings, Inc. US$ 240.39 Bank Credit Facility Caa2 07/20/13 Auto/Transportation/Defense
Herbalife International, Inc. US$ 200.0 Bank Credit Facility Ba1 07/21/13 Retail/Apparel
DAE Aviation Holdings, Inc. US$ 100.0 Bank Credit Facility B3 07/23/13 Auto/Transportation/Defense
ServiceMaster Company (The) US$ 500.0 Bank Credit Facility B1 SGL-2 07/24/13 Diversified Industrials/Services/Paper
CHS/Community Health Systems, Inc. US$ 750.0 Bank Credit Facility Ba3 SGL-2 07/25/13 Healthcare/Healthcare Equipment
HHGREGG, Inc. US$ 88.8 Bank Credit Facility Ba3 SGL-2 07/25/13 Retail/Apparel
NBTY, Inc. US$ 278.0 Bank Credit Facility Ba1 07/25/13 Consumer Products
Orbitz Worldwide, Inc. US$ 72.5 Bank Credit Facility B2 SGL-3 07/25/13 Telecom/Tech./Media
Ticketmaster US$ 100.0 Bank Credit Facility Ba1 SGL-1 07/25/13 Food/Entertainment/Lodging
Ticketmaster US$ 100.0 Bank Credit Facility Ba1 SGL-1 07/25/13 Food/Entertainment/Lodging
CoActive Technologies, Inc. US$ 25.0 Bank Credit Facility Caa2 07/26/13 Diversified Industrials/Services/Paper
Atlas Pipeline Partners, L.P. US$ 380.0 Bank Credit Facility B1 SGL-4 07/27/13 Energy/Natural Resources/Chemicals
BE Aerospace, Inc. US$ 350.0 Bank Credit Facility Ba1 SGL-1 07/28/13 Auto/Transportation/Defense
PQ Corporation US$ 200.0 Bank Credit Facility B3 07/30/13 Energy/Natural Resources/Chemicals
American Safety Razor Company US$ 219.1 Bank Credit Facility B1 07/31/13 Consumer Products

46 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Bankruptcy Management Solutions, Inc. US$ 125.0 Bank Credit Facility Caa1 07/31/13 Telecom/Tech./Media
Interstate Fibernet, Inc. US$ 223.64 Bank Credit Facility B2 SGL-2 07/31/13 Telecom/Tech./Media
Oriental Trading Company, Inc. US$ 50.0 Bank Credit Facility Caa1 07/31/13 Retail/Apparel
Oriental Trading Company, Inc. US$ 180.0 Bank Credit Facility Ca 07/31/13 Retail/Apparel
Oriental Trading Company, Inc. US$ 390.0 Bank Credit Facility Caa1 07/31/13 Retail/Apparel
Veyance Technologies Inc. US$ 100.0 Bank Credit Facility B3 07/31/13 Diversified Industrials/Services/Paper
Communications & Power Industries, Inc. US$ 60.0 Bank Credit Facility Ba2 08/01/13 Auto/Transportation/Defense
Building
GSI Holdings, LLC US$ 50.0 Bank Credit Facility B2 08/01/13 Products/Manufacturing/Homebuilding
HVHC, Inc. US$ 115.82 Bank Credit Facility Ba2 SGL-2 08/01/13 Retail/Apparel
Managed Health Care Associates, Inc. US$ 15.0 Bank Credit Facility B1 08/01/13 Diversified Industrials/Services/Paper
Newsday LLC US$ 525.0 Bank Credit Facility Ba3 08/01/13 Telecom/Tech./Media
Newsday LLC US$ 125.0 Bank Credit Facility Ba3 08/01/13 Telecom/Tech./Media
PRIMEDIA Inc. US$ 100.0 Bank Credit Facility Ba3 SGL-2 08/01/13 Telecom/Tech./Media
Town Sports International, LLC US$ 180.38 Bank Credit Facility Ba2 08/01/13 Diversified Industrials/Services/Paper
Alon USA Energy, Inc. US$ 435.35 Bank Credit Facility B1 08/02/13 Energy/Natural Resources/Chemicals
TriMas Corporation US$ 252.2 Bank Credit Facility B1 SGL-4 08/02/13 Auto/Transportation/Defense
Advanced Homecare Holdings, Inc. US$ 25.0 Bank Credit Facility B1 08/03/13 Healthcare/Healthcare Equipment
L-1 Identity Solutions, Inc. US$ 286.0 Bank Credit Facility Ba3 SGL-2 08/05/13 Auto/Transportation/Defense
L-1 Identity Solutions, Inc. US$ 135.0 Bank Credit Facility Ba3 SGL-2 08/05/13 Auto/Transportation/Defense
Allison Transmission, Inc. US$ 400.0 Bank Credit Facility B2 08/07/13 Auto/Transportation/Defense
LabelCorp Holdings, Inc. US$ 20.7 Bank Credit Facility B1 08/08/13 Diversified Industrials/Services/Paper
CST Industries, Inc. US$ 147.4 Bank Credit Facility B1 08/09/13 Energy/Natural Resources/Chemicals
Syniverse Technologies, Inc. US$ 14.0 Bank Credit Facility Ba2 08/09/13 Telecom/Tech./Media
Syniverse Technologies, Inc. US$ 42.0 Bank Credit Facility Ba2 08/09/13 Telecom/Tech./Media
Genoa Healthcare Group, LLC US$ 50.0 Bank Credit Facility Caa1 08/10/13 Healthcare/Healthcare Equipment
Acument Global Technologies US$ 318.6 Bank Credit Facility Caa1 08/11/13 Diversified Industrials/Services/Paper
Barrington Broadcasting Group LLC US$ 143.08 Bank Credit Facility B3 SGL-3 08/11/13 Telecom/Tech./Media
Aeroflex Incorporated (Veritas Capital) US$ 50.0 Bank Credit Facility Ba3 SGL-2 08/15/13 Telecom/Tech./Media
Broadlane, Inc. US$ 138.95 Bank Credit Facility Ba3 08/15/13 Healthcare/Healthcare Equipment
Broadlane, Inc. US$ 15.0 Bank Credit Facility Ba3 08/15/13 Healthcare/Healthcare Equipment
Production Resource Group, L.L.C. US$ 75.0 Bank Credit Facility B2 08/16/13 Telecom/Tech./Media
Vertrue Incorporated US$ 30.0 Bank Credit Facility Ba3 08/16/13 Telecom/Tech./Media
Laureate Education, Inc. US$ 400.0 Bank Credit Facility B1 08/17/13 Diversified Industrials/Services/Paper
Altegrity, Inc. US$ 90.0 Bank Credit Facility B1 08/21/13 Diversified Industrials/Services/Paper
Synchronous Aerospace Group US$ 20.0 Bank Credit Facility B3 08/21/13 Auto/Transportation/Defense
Hunter Defense Technologies, Inc. US$ 20.0 Bank Credit Facility B1 08/22/13 Auto/Transportation/Defense
Symbion, Inc. US$ 117.0 Bank Credit Facility Ba3 SGL-3 08/23/13 Healthcare/Healthcare Equipment
Symbion, Inc. US$ 100.0 Bank Credit Facility Ba3 SGL-3 08/23/13 Healthcare/Healthcare Equipment
Building
Hudson Products Holdings, Inc. US$ 30.0 Bank Credit Facility B1 08/26/13 Products/Manufacturing/Homebuilding
HD Supply, Inc. US$ 300.0 Bank Credit Facility B1 SGL-2 08/30/13 Building

47 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Products/Manufacturing/Homebuilding

RSC Equipment Rental, Inc. US$ 819.0 Bank Credit Facility Ba3 SGL-3 08/30/13 Auto/Transportation/Defense
Hyland Software, Inc. US$ 78.4 Bank Credit Facility B1 08/31/13 Telecom/Tech./Media
Integra Telecom Holdings, Inc. US$ 595.0 Bank Credit Facility B2 08/31/13 Telecom/Tech./Media
Delta Air Lines, Inc. US$ 250.0 Bank Credit Facility Ba2 SGL-2 09/01/13 Auto/Transportation/Defense
Sunquest Information Systems, Inc. US$ 25.0 Bank Credit Facility B1 09/01/13 Telecom/Tech./Media
Hanesbrands, Inc. US$ 711.0 Bank Credit Facility Ba1 SGL-2 09/05/13 Retail/Apparel
Millennium New Jersey Holdco, LLC US$ 40.0 Bank Credit Facility Ca 09/05/13 Telecom/Tech./Media
Radio Systems Corporation US$ 140.7 Bank Credit Facility B2 09/15/13 Consumer Products
General Nutrition Centers, Inc. US$ 675.0 Bank Credit Facility B1 SGL-3 09/16/13 Retail/Apparel
Bellisio Foods, Inc. US$ 25.0 Bank Credit Facility B1 09/17/13 Food/Entertainment/Lodging
Bellisio Foods, Inc. US$ 127.4 Bank Credit Facility B1 09/17/13 Food/Entertainment/Lodging
Orthofix Holdings Inc. (US) US$ 258.2 Bank Credit Facility B1 09/22/13 Healthcare/Healthcare Equipment
SG Resources Mississippi L.L.C. US$ 100.0 Bank Credit Facility B1 09/22/13 Energy/Natural Resources/Chemicals
First Data Corporation US$ 2000.0 Bank Credit Facility B1 09/24/13 Telecom/Tech./Media
Biomet, Inc. US$ 350.0 Bank Credit Facility Ba2 SGL-2 09/25/13 Healthcare/Healthcare Equipment
Biomet, Inc. US$ 400.0 Bank Credit Facility B1 SGL-2 09/25/13 Healthcare/Healthcare Equipment
Bresnan Communications, LLC US$ 537.3 Bank Credit Facility B1 09/29/13 Telecom/Tech./Media
National Processing Company Group, Inc. US$ 313.0 Bank Credit Facility B2 09/29/13 Telecom/Tech./Media
Wesco Aircraft Hardware Corp. US$ 537.63 Bank Credit Facility B1 09/29/13 Auto/Transportation/Defense
FiberVisions Delaware Corporation US$ 20.0 Bank Credit Facility Caa1 09/30/13 Energy/Natural Resources/Chemicals
GXS Worldwide, Inc. US$ 175.0 Bank Credit Facility B3 09/30/13 Telecom/Tech./Media
Catalina Marketing Corporation US$ 100.0 Bank Credit Facility Ba3 10/01/13 Telecom/Tech./Media
Graham Packaging Company, L.P. US$ 112.8 Bank Credit Facility B1 SGL-2 10/01/13 Diversified Industrials/Services/Paper
Building
Armstrong World Industries, Inc. US$ 193.5 Bank Credit Facility Ba2 SGL-1 10/02/13 Products/Manufacturing/Homebuilding
Mylan Inc. US$ 218.75 Bank Credit Facility Ba3 SGL-1 10/02/13 Healthcare/Healthcare Equipment
Mylan Inc. US$ 750.0 Bank Credit Facility Ba3 SGL-1 10/02/13 Healthcare/Healthcare Equipment
Open Text Corp. US$ 292.26 Bank Credit Facility Ba1 SGL-1 10/02/13 Telecom/Tech./Media
Georgia Gulf Corporation US$ 347.7 Bank Credit Facility B2 10/03/13 Energy/Natural Resources/Chemicals
Cinemark USA, Inc. US$ 1092.0 Bank Credit Facility Ba3 SGL-1 10/05/13 Food/Entertainment/Lodging
Gold Toe Moretz Holdings Corp. US$ 220.5 Bank Credit Facility Caa1 10/05/13 Retail/Apparel
MediMedia USA, Inc. US$ 193.688 Bank Credit Facility Ba3 10/05/13 Telecom/Tech./Media
Renfro Corporation US$ 125.37 Bank Credit Facility B2 10/05/13 Retail/Apparel
Insight Midwest Holdings, LLC US$ 260.0 Bank Credit Facility B1 10/06/13 Telecom/Tech./Media
Brocade Communications Systems, Inc. US$ 991.2 Bank Credit Facility Ba2 SGL-2 10/07/13 Telecom/Tech./Media
Brocade Communications Systems, Inc. US$ 125.0 Bank Credit Facility Ba2 SGL-2 10/07/13 Telecom/Tech./Media
Realogy Corporation US$ 3099.0 Bank Credit Facility Caa1 SGL-4 10/10/13 Diversified Industrials/Services/Paper
Realogy Corporation US$ 525.0 Bank Credit Facility Caa1 SGL-4 10/10/13 Diversified Industrials/Services/Paper
Texas Competitive Electric Holdings Co LLC US$ 2700.0 Bank Credit Facility B2 10/10/13 Utilities
AlixPartners LLP US$ 371.0 Bank Credit Facility Ba3 10/12/13 Diversified Industrials/Services/Paper

48 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
LKQ Corporation US$ 622.47 Bank Credit Facility Ba3 SGL-2 10/12/13 Auto/Transportation/Defense
LKQ Corporation US$ 15.0 Bank Credit Facility Ba3 SGL-2 10/12/13 Auto/Transportation/Defense
LKQ Corporation US$ 100.0 Bank Credit Facility Ba3 SGL-2 10/12/13 Auto/Transportation/Defense
Prometric Inc. US$ 159.1 Bank Credit Facility Ba3 10/12/13 Diversified Industrials/Services/Paper
Attachmate Corporation US$ 255.0 Bank Credit Facility Caa2 10/13/13 Telecom/Tech./Media
KAR Holdings, Inc. US$ 1497.9 Bank Credit Facility Ba3 SGL-3 10/19/13 Diversified Industrials/Services/Paper
West Corporation US$ 1469.0 Bank Credit Facility B1 SGL-2 10/24/13 Diversified Industrials/Services/Paper
X-Rite Incorporated US$ 26.4 Bank Credit Facility Caa2 SGL-3 10/24/13 Telecom/Tech./Media
Arinc Incorporated US$ 120.0 Bank Credit Facility B3 10/25/13 Auto/Transportation/Defense
Bausch & Lomb Incorporated US$ 500.0 Bank Credit Facility B1 SGL-3 10/25/13 Healthcare/Healthcare Equipment
Avaya, Inc. US$ 335.0 Bank Credit Facility Ba3 10/26/13 Telecom/Tech./Media
Avaya, Inc. US$ 200.0 Bank Credit Facility Ba3 10/26/13 Telecom/Tech./Media
Chem Rx Corporation US$ 80.0 Bank Credit Facility B3 SGL-4 10/26/13 Healthcare/Healthcare Equipment
Petco Animal Supplies Stores, Inc. US$ 686.0 Bank Credit Facility B1 10/26/13 Retail/Apparel
Reynolds & Reynolds Company US$ 520.0 Bank Credit Facility B3 10/26/13 Telecom/Tech./Media
Pep Boys -- Manny, Moe & Jack (The) US$ 150.0 Bank Credit Facility Ba3 10/27/13 Retail/Apparel
Regal Cinemas Corporation US$ 1658.0 Bank Credit Facility Ba2 SGL-2 10/27/13 Food/Entertainment/Lodging
GenTek Holding, LLC US$ 30.0 Bank Credit Facility B1 10/29/13 Energy/Natural Resources/Chemicals
Carestream Health US$ 440.0 Bank Credit Facility B3 10/30/13 Healthcare/Healthcare Equipment
Evergreen International Aviation, Inc. US$ 101.83 Bank Credit Facility Caa2 10/31/13 Auto/Transportation/Defense
Generics International (US), Inc. US$ 75.0 Bank Credit Facility B1 10/31/13 Healthcare/Healthcare Equipment
HealthCare Partners, LLC US$ 15.0 Bank Credit Facility Ba2 10/31/13 Healthcare/Healthcare Equipment
HealthCare Partners, LLC US$ 219.7 Bank Credit Facility Ba2 10/31/13 Healthcare/Healthcare Equipment
Mattress Holdings Corp. US$ 25.0 Bank Credit Facility B2 10/31/13 Retail/Apparel
Mattress Holdings Corp. US$ 234.1 Bank Credit Facility B2 10/31/13 Retail/Apparel
McJunkin Corporation US$ 900.0 Bank Credit Facility Ba1 10/31/13 Energy/Natural Resources/Chemicals
Michaels Stores, Inc. US$ 1315.0 Bank Credit Facility B3 SGL-2 10/31/13 Retail/Apparel
San Juan Cable, LLC US$ 85.0 Bank Credit Facility Caa1 10/31/13 Telecom/Tech./Media
Emdeon Business Services US$ 688.24 Bank Credit Facility B1 11/01/13 Telecom/Tech./Media
Fidelity National Information Services, Inc. US$ 145 Bank Credit Facility Ba1 SGL-1 11/01/13 Telecom/Tech./Media
VeriFone, Inc. US$ 227.5 Bank Credit Facility Ba2 11/01/13 Telecom/Tech./Media
Emmis Operating Company US$ 342.15 Bank Credit Facility Caa2 11/02/13 Telecom/Tech./Media
MetroPCS Wireless, Inc. US$ 1552.0 Bank Credit Facility Ba2 SGL-1 11/03/13 Telecom/Tech./Media
Roundy's Supermarkets, Inc. US$ 646.0 Bank Credit Facility B1 11/03/13 Retail/Apparel
Cequel Communications, LLC US$ 2266.87 Bank Credit Facility Ba3 11/05/13 Telecom/Tech./Media
Building
Manitowoc Company, Inc. (The) US$ 948.1 Bank Credit Facility B1 11/06/13 Products/Manufacturing/Homebuilding
Building
Manitowoc Company, Inc. (The) US$ 400.0 Bank Credit Facility B1 11/06/13 Products/Manufacturing/Homebuilding
Universal City Development Partners, Ltd. US$ 75.0 Bank Credit Facility Ba2 11/06/13 Telecom/Tech./Media
Building
Kinetek Holdings Corp. US$ 193.0 Bank Credit Facility B3 11/10/13 Products/Manufacturing/Homebuilding

49 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Ashland Inc. US$ 219.0 Bank Credit Facility Ba1 11/13/13 Energy/Natural Resources/Chemicals
Ashland Inc. US$ 400.0 Bank Credit Facility Ba1 11/13/13 Energy/Natural Resources/Chemicals
Deluxe Entertainment Services Group, Inc. US$ 110.0 Bank Credit Facility B3 11/13/13 Telecom/Tech./Media
Merrill Communications LLC US$ 200.0 Bank Credit Facility Caa2 11/13/13 Telecom/Tech./Media
Funding Co. (Varel) US$ 20.0 Bank Credit Facility B3 11/15/13 Energy/Natural Resources/Chemicals
NextMedia Operating, Inc. US$ 81.0 Bank Credit Facility Ca 11/15/13 Telecom/Tech./Media
Sally Holdings, LLC US$ 864.0 Bank Credit Facility B1 SGL-2 11/16/13 Retail/Apparel
HCA, Inc. US$ 709.0 Bank Credit Facility Ba3 SGL-2 11/18/13 Healthcare/Healthcare Equipment
HCA, Inc. US$ 7383.0 Bank Credit Facility Ba3 SGL-2 11/18/13 Healthcare/Healthcare Equipment
Springboard Finance LLC US$ 30.0 Bank Credit Facility B1 11/19/13 Telecom/Tech./Media
Coinmach Service Corp. US$ 50.0 Bank Credit Facility Caa1 SGL-4 11/20/13 Consumer Products
Regent Broadcasting LLC US$ 105.84 Bank Credit Facility Caa1 SGL-4 11/21/13 Telecom/Tech./Media
Regent Broadcasting LLC US$ 75.0 Bank Credit Facility Caa1 SGL-4 11/21/13 Telecom/Tech./Media
Regent Broadcasting LLC US$ 40.5 Bank Credit Facility Caa1 SGL-4 11/21/13 Telecom/Tech./Media
Sterigenics International, Inc. US$ 269.28 Bank Credit Facility B3 11/21/13 Healthcare/Healthcare Equipment
Polymer Group, Inc. US$ 30.0 Bank Credit Facility Ba3 11/22/13 Diversified Industrials/Services/Paper
Isle of Capri Casinos, Inc. US$ 175.0 Bank Credit Facility B1 11/25/13 Food/Entertainment/Lodging
Isle of Capri Casinos, Inc. US$ 648.55 Bank Credit Facility B1 11/28/13 Food/Entertainment/Lodging
Motorsport Aftermarket Group, Inc. US$ 155.6 Bank Credit Facility B3 11/29/13 Auto/Transportation/Defense
Allen Systems Group, Inc. US$ 250.0 Bank Credit Facility B1 11/30/13 Telecom/Tech./Media
RSC Equipment Rental, Inc. US$ 741.5 Bank Credit Facility Caa1 SGL-3 11/30/13 Auto/Transportation/Defense
Freescale Semiconductor, Inc. US$ 3380.0 Bank Credit Facility B2 SGL-3 12/01/13 Telecom/Tech./Media
HCR Healthcare LLC US$ 200.0 Bank Credit Facility Ba2 12/01/13 Healthcare/Healthcare Equipment
Healthways, Inc. US$ 194.5 Bank Credit Facility Ba2 SGL-1 12/01/13 Healthcare/Healthcare Equipment
kgb US$ 125.0 Bank Credit Facility B2 12/01/13 Diversified Industrials/Services/Paper
Sequa Corporation US$ 150.0 Bank Credit Facility B2 12/03/13 Auto/Transportation/Defense
Momentive Performance Materials Inc. US$ 35.0 Bank Credit Facility B1 SGL-3 12/04/13 Energy/Natural Resources/Chemicals
Momentive Performance Materials Inc. US$ 1089.0 Bank Credit Facility B1 SGL-3 12/04/13 Energy/Natural Resources/Chemicals
Oshkosh Corporation US$ 1902.6 Bank Credit Facility B2 SGL-3 12/06/13 Auto/Transportation/Defense
Compass Diversified Holdings US$ 78.0 Bank Credit Facility B1 SGL-2 12/07/13 Consumer Products
Providence Service Corporation US$ 154.62 Bank Credit Facility B1 SGL-3 12/07/13 Healthcare/Healthcare Equipment
John Maneely Company US$ 1087.5 Bank Credit Facility B3 12/08/13 Energy/Natural Resources/Chemicals
Total Safety U.S., Inc. US$ 40.0 Bank Credit Facility Caa1 12/08/13 Diversified Industrials/Services/Paper
FHC Health Systems, Inc. US$ 158.34 Bank Credit Facility B1 12/13/13 Healthcare/Healthcare Equipment
PRA International US$ 30.0 Bank Credit Facility B1 12/13/13 Healthcare/Healthcare Equipment
Aquilex Holdings LLC US$ 210.0 Bank Credit Facility Ba3 12/15/13 Diversified Industrials/Services/Paper
Aquilex Holdings LLC US$ 50.0 Bank Credit Facility Ba3 12/15/13 Diversified Industrials/Services/Paper
Ford Motor Company US$ 7000.0 Bank Credit Facility Ba3 SGL-3 12/15/13 Auto/Transportation/Defense
Wm. Bolthouse Farms, Inc. US$ 135.0 Bank Credit Facility Caa1 12/17/13 Food/Entertainment/Lodging
TravelCLICK, Inc. US$ 82.60 Bank Credit Facility Ba3 12/20/13 Diversified Industrials/Services/Paper
Live Nation Worldwide, Inc. US$ 225.0 Bank Credit Facility Ba3 SGL-3 12/21/13 Food/Entertainment/Lodging

50 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Orchard Supply Hardware Corporation US$ 176.5 Bank Credit Facility B2 12/21/13 Retail/Apparel
CommScope, Inc. US$ 406.82 Bank Credit Facility Ba2 12/27/13 Telecom/Tech./Media
CommScope, Inc. US$ 400.0 Bank Credit Facility Ba2 12/27/13 Telecom/Tech./Media
Federal-Mogul Corporation (Reorganized) US$ 540.0 Bank Credit Facility Ba2 SGL-2 12/27/13 Auto/Transportation/Defense
CVR Energy Inc. US$ 480.7 Bank Credit Facility B2 SGL-3 12/28/13 Energy/Natural Resources/Chemicals
Consolidated Communications, Inc. US$ 50.0 Bank Credit Facility B1 SGL-2 12/31/13 Telecom/Tech./Media
EaglePicher Corporation US$ 70.0 Bank Credit Facility Caa1 12/31/13 Auto/Transportation/Defense
Salton, Inc. US$ 180.0 Bank Credit Facility B3 12/31/13 Consumer Products
Sinclair Television Group, Inc US$ 75.4 Bank Credit Facility Ba2 SGL-2 12/31/13 Telecom/Tech./Media
Intelsat Corporation US$ 1742.0 Bank Credit Facility B1 SGL-3 01/02/14 Telecom/Tech./Media
SOURCECORP, Incorporated US$ 120.0 Bank Credit Facility Caa1 01/10/14 Diversified Industrials/Services/Paper
Harrington Holdings, Inc. US$ 171.94 Bank Credit Facility B1 01/11/14 Healthcare/Healthcare Equipment
RiskMetrics Group Holdings LLC US$ 289.1 Bank Credit Facility Ba3 01/11/14 Diversified Industrials/Services/Paper
DJO Finance LLC US$ 1039.0 Bank Credit Facility Ba3 SGL-3 01/15/14 Healthcare/Healthcare Equipment
Global Geophysical Services US$ 30.0 Bank Credit Facility B2 01/16/14 Energy/Natural Resources/Chemicals
Totes Isotoner Corporation US$ 55.0 Bank Credit Facility Caa2 01/16/14 Retail/Apparel
Wyle Laboratories, Inc. (Old) US$ 25.0 Bank Credit Facility B1 01/17/14 Auto/Transportation/Defense
Building
Global Power Equipment Group, Inc. US$ 66.58 Bank Credit Facility B3 01/22/14 Products/Manufacturing/Homebuilding
Building
Global Power Equipment Group, Inc. US$ 60.0 Bank Credit Facility Ba2 01/22/14 Products/Manufacturing/Homebuilding
Open Solutions, Inc. US$ 555.85 Bank Credit Facility B1 01/23/14 Telecom/Tech./Media
Tube City IMS Corp. US$ 160.88 Bank Credit Facility B1 SGL-3 01/25/14 Energy/Natural Resources/Chemicals
Tube City IMS Corp. US$ 20.0 Bank Credit Facility B1 SGL-3 01/25/14 Energy/Natural Resources/Chemicals
ARAMARK Corporation US$ 3623.0 Bank Credit Facility Ba3 SGL-2 01/26/14 Diversified Industrials/Services/Paper
ARAMARK Corporation US$ 225.0 Bank Credit Facility Ba3 SGL-2 01/26/14 Diversified Industrials/Services/Paper
Weight Watchers International, Inc. US$ 486.3 Bank Credit Facility Ba1 01/26/14 Healthcare/Healthcare Equipment
Harrah's Operating Company, Inc. US$ 16300.0 Bank Credit Facility Caa1 01/28/14 Food/Entertainment/Lodging
American Safety Razor Company US$ 175.0 Bank Credit Facility B3 01/30/14 Consumer Products
Sitel LLC US$ 594.0 Bank Credit Facility B3 01/30/14 Telecom/Tech./Media
Building
Baldor Electric Company US$ 717.0 Bank Credit Facility Ba3 SGL-2 01/31/14 Products/Manufacturing/Homebuilding
David's Bridal, Inc. US$ 327.7 Bank Credit Facility B2 01/31/14 Retail/Apparel
McJunkin Corporation US$ 559.0 Bank Credit Facility B2 01/31/14 Energy/Natural Resources/Chemicals
McJunkin Red Man Holding Corporation US$ 415.0 Bank Credit Facility B3 01/31/14 Energy/Natural Resources/Chemicals
Sbarro, Inc. US$ 154.8 Bank Credit Facility Caa1 SGL-4 01/31/14 Food/Entertainment/Lodging
National Bedding Company, LLC US$ 210.0 Bank Credit Facility Caa1 02/01/14 Consumer Products
Penton Media Inc. US$ 266.0 Bank Credit Facility Caa3 02/01/14 Telecom/Tech./Media
United Air Lines, Inc. US$ 1264.0 Bank Credit Facility B3 SGL-3 02/01/14 Auto/Transportation/Defense
Yankee Candle Company, Inc, The US$ 568.4 Bank Credit Facility Ba3 SGL-2 02/05/14 Retail/Apparel
Puget Energy, Inc. US$ 1000.0 Bank Credit Facility Ba2 02/06/14 Utilities
Puget Energy, Inc. US$ 1225.0 Bank Credit Facility Ba2 02/06/14 Utilities

51 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Building
Brand Energy & Infrastructure Services, Inc. US$ 738.888 Bank Credit Facility B1 02/07/14 Products/Manufacturing/Homebuilding
Building
Brand Energy & Infrastructure Services, Inc. US$ 25.0 Bank Credit Facility B1 02/07/14 Products/Manufacturing/Homebuilding
Covanta Energy Corporation* US$ 650.0 Bank Credit Facility Ba1 SGL-1 02/09/14 Utilities
ProQuest LLC US$ 225.0 Bank Credit Facility Ba3 02/09/14 Telecom/Tech./Media
Building
Goodman Global, Inc. US$ 772.0 Bank Credit Facility Ba3 02/13/14 Products/Manufacturing/Homebuilding
Building
Jacuzzi Brands Corp. US$ 167.0 Bank Credit Facility B3 02/15/14 Products/Manufacturing/Homebuilding
Building
Jacuzzi Brands Corp. US$ 185.0 Bank Credit Facility Caa3 02/15/14 Products/Manufacturing/Homebuilding
Building
Jacuzzi Brands Corp. US$ 15.0 Bank Credit Facility B3 02/15/14 Products/Manufacturing/Homebuilding
Green Valley Ranch Gaming, LLC US$ 517.0 Bank Credit Facility Caa3 02/16/14 Food/Entertainment/Lodging
Krispy Kreme Doughnut Corporation US$ 53.93 Bank Credit Facility B3 SGL-3 02/16/14 Food/Entertainment/Lodging
Allied Security Holdings LLC US$ 55.0 Bank Credit Facility Ba3 02/21/14 Diversified Industrials/Services/Paper
DeCrane Aerospace, Inc. US$ 150.0 Bank Credit Facility Caa2 02/21/14 Auto/Transportation/Defense
Radiation Therapy Services, Inc. US$ 341.9 Bank Credit Facility B1 02/21/14 Healthcare/Healthcare Equipment
Boise Paper Holdings LLC US$ 412.177 Bank Credit Facility Ba3 SGL-2 02/22/14 Diversified Industrials/Services/Paper
Building
Building Materials Corporation of America US$ 948.52 Bank Credit Facility B3 02/22/14 Products/Manufacturing/Homebuilding
Kentucky Data Link, Inc. US$ 221.43 Bank Credit Facility B1 02/26/14 Telecom/Tech./Media
AZ Chem US, Inc. US$ 115.5 Bank Credit Facility Caa1 02/28/14 Energy/Natural Resources/Chemicals
Capella Healthcare, Inc. US$ 45.0 Bank Credit Facility B1 02/28/14 Healthcare/Healthcare Equipment
Covanta Energy Corporation* US$ 320.0 Bank Credit Facility Ba1 SGL-1 02/28/14 Utilities
GateHouse Media Operating, Inc. US$ 20.0 Bank Credit Facility Ca 02/28/14 Telecom/Tech./Media
Health Management Associates, Inc. US$ 2381.0 Bank Credit Facility B1 02/28/14 Healthcare/Healthcare Equipment
Integra Telecom Holdings, Inc. US$ 325.0 Bank Credit Facility Ca 02/28/14 Telecom/Tech./Media
Solutia Inc. US$ 1178.0 Bank Credit Facility Ba3 SGL-2 02/28/14 Energy/Natural Resources/Chemicals
Sungard Data Systems Inc. US$ 1980.0 Bank Credit Facility Ba3 SGL-2 02/28/14 Telecom/Tech./Media
Euronet Worldwide, Inc. US$ 90.0 Bank Credit Facility Ba2 SGL-2 03/01/14 Diversified Industrials/Services/Paper
Infor Global Solutions Holdings Ltd. US$ 1628.6 Bank Credit Facility Caa2 03/02/14 Telecom/Tech./Media
Valassis Communications, Inc. US$ 374.58 Bank Credit Facility Ba2 03/02/14 Telecom/Tech./Media
Valassis Communications, Inc. US$ 137.79 Bank Credit Facility Ba2 03/02/14 Telecom/Tech./Media
Gold Toe Moretz Holdings Corp. US$ 105.0 Bank Credit Facility Ca 03/05/14 Retail/Apparel
Hanesbrands, Inc. US$ 450.0 Bank Credit Facility Ba3 SGL-2 03/05/14 Retail/Apparel
Rock-Tenn Company US$ 120.4 Bank Credit Facility Ba1 SGL-2 03/05/14 Diversified Industrials/Services/Paper
Bobcat Gas Storage US$ 43.0 Bank Credit Facility B2 03/06/14 Energy/Natural Resources/Chemicals
Bobcat Gas Storage US$ 120.0 Bank Credit Facility B2 03/06/14 Energy/Natural Resources/Chemicals
Charter Communications Operating, LLC US$ 6794.0 Bank Credit Facility Ba2 03/06/14 Telecom/Tech./Media
Crown Castle Operating Company US$ 650.0 Bank Credit Facility Ba2 03/06/14 Telecom/Tech./Media
Network Solutions, LLC US$ 332.0 Bank Credit Facility B1 03/07/14 Telecom/Tech./Media
Hanley Wood LLC US$ 393.9 Bank Credit Facility Caa1 03/08/14 Telecom/Tech./Media

52 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Tegrant Corporation US$ 209.63 Bank Credit Facility Caa1 03/08/14 Diversified Industrials/Services/Paper
Level 3 Financing, Inc. US$ 1400.0 Bank Credit Facility B1 SGL-1 03/13/14 Telecom/Tech./Media
Level 3 Financing, Inc. US$ 280.0 Bank Credit Facility B1 SGL-1 03/13/14 Telecom/Tech./Media
TSI Acquisition, LLC US$ 45.0 Bank Credit Facility Caa3 03/13/14 Energy/Natural Resources/Chemicals
Gibson Guitar Corp. US$ 89.0 Bank Credit Facility B3 03/15/14 Consumer Products
IASIS Healthcare LLC US$ 429.0 Bank Credit Facility Ba2 03/15/14 Healthcare/Healthcare Equipment
IASIS Healthcare LLC US$ 40.0 Bank Credit Facility Ba2 03/15/14 Healthcare/Healthcare Equipment
Advance Food Company, Inc. US$ 150.83 Bank Credit Facility Ba3 03/16/14 Food/Entertainment/Lodging
Philosophy, Inc. US$ 220.64 Bank Credit Facility B2 03/16/14 Consumer Products
Tenneco Inc. US$ 130.0 Bank Credit Facility Ba3 03/16/14 Auto/Transportation/Defense
Gray Television, Inc. US$ 50.0 Bank Credit Facility Caa1 SGL-4 03/19/14 Telecom/Tech./Media
Atlantic Marine Holding Company US$ 180.31 Bank Credit Facility B2 03/22/14 Auto/Transportation/Defense
US Airways Group, Inc. US$ 1168.0 Bank Credit Facility B3 SGL-4 03/23/14 Auto/Transportation/Defense
Hawker Beechcraft Acquisition Company
LLC US$ 1271.0 Bank Credit Facility B3 SGL-3 03/26/14 Auto/Transportation/Defense
Hawker Beechcraft Acquisition Company
LLC US$ 75.0 Bank Credit Facility B3 SGL-3 03/26/14 Auto/Transportation/Defense
Levi Strauss & Co. US$ 323.26 Bank Credit Facility B2 03/27/14 Retail/Apparel
Consolidated Container Company LLC US$ 394.875 Bank Credit Facility B1 03/28/14 Diversified Industrials/Services/Paper
Bresnan Communications, LLC US$ 100.0 Bank Credit Facility B3 03/29/14 Telecom/Tech./Media
Calpine Corporation US$ 5920.0 Bank Credit Facility B2 SGL-2 03/29/14 Utilities
Calpine Corporation US$ 1000.0 Bank Credit Facility B2 SGL-2 03/29/14 Utilities
Univision Communications, Inc. US$ 600.0 Bank Credit Facility B2 SGL-3 03/29/14 Telecom/Tech./Media
AEI US$ 904.0 Bank Credit Facility Ba3 03/30/14 Utilities
QVC, Inc. US$ 634.1 Bank Credit Facility Ba2 03/30/14 Telecom/Tech./Media
QVC, Inc. US$ 250.0 Bank Credit Facility Ba2 03/30/14 Telecom/Tech./Media
QVC, Inc. US$ 250.0 Bank Credit Facility Ba2 03/30/14 Telecom/Tech./Media
Synagro Technologies, Inc. US$ 290.0 Bank Credit Facility B3 03/30/14 Diversified Industrials/Services/Paper
Chiquita Brands LLC US$ 185.0 Bank Credit Facility Ba3 03/31/14 Food/Entertainment/Lodging
Chiquita Brands LLC US$ 150.0 Bank Credit Facility Ba3 03/31/14 Food/Entertainment/Lodging
Lamar Media Corporation US$ 323.38 Bank Credit Facility Ba1 03/31/14 Telecom/Tech./Media
Protection One Alarm Monitoring, Inc. US$ 278.0 Bank Credit Facility Ba3 03/31/14 Diversified Industrials/Services/Paper
Quintiles Transnational Corp. US$ 220.0 Bank Credit Facility B2 03/31/14 Healthcare/Healthcare Equipment
Celanese U.S. Holdings LLC US$ 2280.0 Bank Credit Facility Ba2 SGL-1 04/01/14 Energy/Natural Resources/Chemicals
Celanese U.S. Holdings LLC US$ 228.0 Bank Credit Facility Ba2 SGL-1 04/01/14 Energy/Natural Resources/Chemicals
Dean Foods Company US$ 1800.0 Bank Credit Facility B1 SGL-2 04/02/14 Food/Entertainment/Lodging
Pinnacle Foods Finance LLC US$ 1225.0 Bank Credit Facility B2 SGL-2 04/02/14 Food/Entertainment/Lodging
SG Resources Mississippi L.L.C. US$ 135.0 Bank Credit Facility B1 04/02/14 Energy/Natural Resources/Chemicals
Lodgenet Interactive Corporation US$ 527.0 Bank Credit Facility B3 SGL-3 04/04/14 Telecom/Tech./Media
Hughes Network Systems, LLC US$ 115.0 Bank Credit Facility B1 SGL-2 04/05/14 Telecom/Tech./Media
Evergreen Tank Solutions, Inc. US$ 100.0 Bank Credit Facility Caa2 04/06/14 Auto/Transportation/Defense
Insight Midwest Holdings, LLC US$ 1215.0 Bank Credit Facility B1 04/06/14 Telecom/Tech./Media

53 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Catalent Pharma Solutions, Inc. US$ 1403.0 Bank Credit Facility Ba3 04/10/14 Diversified Industrials/Services/Paper
BioReliance Corporation US$ 53.49 Bank Credit Facility B2 04/12/14 Healthcare/Healthcare Equipment
MacDermid Inc. US$ 261.26 Bank Credit Facility B2 04/12/14 Energy/Natural Resources/Chemicals
Graham Packaging Company, L.P. US$ 1194.0 Bank Credit Facility B1 SGL-2 04/15/14 Diversified Industrials/Services/Paper
Hunter Fan Company US$ 130.3 Bank Credit Facility B2 04/16/14 Consumer Products
Iron Mountain Incorporated US$ 401.33 Bank Credit Facility Ba1 SGL-1 04/16/14 Diversified Industrials/Services/Paper
Building
Itron, Inc. US$ 301.2 Bank Credit Facility Ba3 04/18/14 Products/Manufacturing/Homebuilding
Huntsman International LLC US$ 1524.0 Bank Credit Facility Ba2 04/19/14 Energy/Natural Resources/Chemicals
Sun Healthcare Group, Inc. US$ 329.0 Bank Credit Facility Ba2 SGL-2 04/19/14 Healthcare/Healthcare Equipment
Sun Healthcare Group, Inc. US$ 70.0 Bank Credit Facility Ba2 SGL-2 04/19/14 Healthcare/Healthcare Equipment
United Surgical Partners International, Inc. US$ 515.0 Bank Credit Facility Ba3 04/19/14 Healthcare/Healthcare Equipment
Coach America Holdings, Inc. US$ 237.03 Bank Credit Facility B2 04/20/14 Auto/Transportation/Defense
Building
NCI Building Systems, Inc. US$ 150.0 Bank Credit Facility Caa1 04/20/14 Products/Manufacturing/Homebuilding
Local Insight Regatta Holdings, Inc. US$ 30.0 Bank Credit Facility B2 04/23/14 Telecom/Tech./Media
Vi-Jon, Inc. US$ 171.0 Bank Credit Facility B1 04/24/14 Consumer Products
Reynolds & Reynolds Company US$ 250.0 Bank Credit Facility B3 04/26/14 Telecom/Tech./Media
Sun Products Corporation US$ 808.63 Bank Credit Facility Ba2 04/26/14 Consumer Products
Insignia Vessel Acquisition, LLC US$ 75.0 Bank Credit Facility Caa1 04/27/14 Food/Entertainment/Lodging
Delta Air Lines, Inc. US$ 900.0 Bank Credit Facility B2 SGL-2 04/30/14 Auto/Transportation/Defense
Goodyear Tire & Rubber Company (The) US$ 1200.0 Bank Credit Facility Ba1 SGL-3 04/30/14 Auto/Transportation/Defense
Palm, Inc. US$ 393.0 Bank Credit Facility B3 SGL-2 04/30/14 Telecom/Tech./Media
RGIS Holdings LLC US$ 498.0 Bank Credit Facility B1 04/30/14 Diversified Industrials/Services/Paper
Building
Electrical Components International, Inc. US$ 60.0 Bank Credit Facility Ca 05/01/14 Products/Manufacturing/Homebuilding
Emdeon Business Services US$ 170.0 Bank Credit Facility Caa1 05/01/14 Telecom/Tech./Media
Michael Foods, Inc. US$ 221.25 Bank Credit Facility Ba3 05/01/14 Food/Entertainment/Lodging
TransFirst Holdings, Inc. US$ 305.0 Bank Credit Facility B2 05/01/14 Telecom/Tech./Media
Building
Bucyrus International, Inc. US$ 392.0 Bank Credit Facility Ba2 05/04/14 Products/Manufacturing/Homebuilding
Swift Transportation Co., Inc. US$ 1515.7 Bank Credit Facility B3 05/06/14 Auto/Transportation/Defense
Building
Collins & Aikman Floorcoverings, Inc. US$ 230.2 Bank Credit Facility B2 05/08/14 Products/Manufacturing/Homebuilding
Oxbow Carbon LLC US$ 745.0 Bank Credit Facility B1 05/08/14 Energy/Natural Resources/Chemicals
Venoco, Inc. US$ 495.0 Bank Credit Facility B3 SGL-3 05/08/14 Energy/Natural Resources/Chemicals
Ceridian Corp. US$ 300.0 Bank Credit Facility B1 SGL-2 05/09/14 Telecom/Tech./Media
Building
Kinetek Holdings Corp. US$ 80.0 Bank Credit Facility Caa2 05/10/14 Products/Manufacturing/Homebuilding
Edgen Murray Corporation US$ 349.4 Bank Credit Facility Caa1 05/11/14 Energy/Natural Resources/Chemicals
Ashland Inc. US$ 542.0 Bank Credit Facility Ba1 05/13/14 Energy/Natural Resources/Chemicals
Clear Channel Communications, Inc. US$ 1331.5 Bank Credit Facility Caa2 SGL-4 05/13/14 Telecom/Tech./Media
Clear Channel Communications, Inc. US$ 2000.0 Bank Credit Facility Caa2 SGL-4 05/13/14 Telecom/Tech./Media

54 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Dayco Products, LLC US$ 177.0 Bank Credit Facility B2 05/13/14 Auto/Transportation/Defense
IPC Systems, Inc. US$ 676.0 Bank Credit Facility B1 05/13/14 Telecom/Tech./Media
Nalco Company US$ 250.0 Bank Credit Facility Ba1 05/13/14 Energy/Natural Resources/Chemicals
Pantry Inc., The US$ 320.14 Bank Credit Facility B1 05/15/14 Retail/Apparel
Pantry Inc., The US$ 100.0 Bank Credit Facility B1 05/15/14 Retail/Apparel
Rockwood Specialties Group, Inc. US$ 1222.2 Bank Credit Facility Ba2 05/15/14 Energy/Natural Resources/Chemicals
Audatex North America, Inc. US$ 592.0 Bank Credit Facility Ba3 05/16/14 Telecom/Tech./Media
Graphic Packaging International Inc. US$ 1000.3 Bank Credit Facility Ba3 SGL-3 05/16/14 Diversified Industrials/Services/Paper
Graphic Packaging International Inc. US$ 1182.0 Bank Credit Facility Ba3 SGL-3 05/16/14 Diversified Industrials/Services/Paper
Cannery Casino Resorts, LLC US$ 115.0 Bank Credit Facility Caa3 05/18/14 Food/Entertainment/Lodging
Noranda Aluminum Acquisition
Corporation US$ 349.012 Bank Credit Facility B2 05/18/14 Energy/Natural Resources/Chemicals
Cristal Inorganic Chemicals Ltd. US$ 490.88 Bank Credit Facility B1 05/19/14 Energy/Natural Resources/Chemicals
Hexcel Corporation US$ 160.8 Bank Credit Facility Ba1 05/21/14 Auto/Transportation/Defense
Central Parking Corporation US$ 55.0 Bank Credit Facility Ba2 05/22/14 Diversified Industrials/Services/Paper
Central Parking Corporation US$ 151.46 Bank Credit Facility Ba2 05/22/14 Diversified Industrials/Services/Paper
Building
OMNOVA Solutions Inc. US$ 142.7 Bank Credit Facility B2 05/22/14 Products/Manufacturing/Homebuilding
SafeNet, Inc. US$ 242.5 Bank Credit Facility B1 05/22/14 Telecom/Tech./Media
Venetian Casino Resort, LLC US$ 2933 Bank Credit Facility B3 05/23/14 Food/Entertainment/Lodging
Venetian Casino Resort, LLC US$ 593.0 Bank Credit Facility B3 05/23/14 Food/Entertainment/Lodging
Building
Mueller Water Products, Inc. US$ 424.3 Bank Credit Facility B1 SGL-3 05/24/14 Products/Manufacturing/Homebuilding
RCN Corporation US$ 704.29 Bank Credit Facility B1 SGL-3 05/25/14 Telecom/Tech./Media
Bright Horizons Family Solutions, Inc. US$ 75.0 Bank Credit Facility Ba3 05/28/14 Diversified Industrials/Services/Paper
Claire's Stores, Inc. US$ 1450.0 Bank Credit Facility Caa2 SGL-4 05/29/14 Retail/Apparel
Intergraph Corporation US$ 351.0 Bank Credit Facility Ba3 05/29/14 Telecom/Tech./Media
Allen Systems Group, Inc. US$ 95.0 Bank Credit Facility Caa1 05/30/14 Telecom/Tech./Media
Western Refining, Inc. US$ 358.06 Bank Credit Facility B3 SGL-3 05/30/14 Energy/Natural Resources/Chemicals
Advanstar Communications, Inc. US$ 503.41 Bank Credit Facility Caa2 05/31/14 Telecom/Tech./Media
Bonten Media Group, Inc. US$ 43.7 Bank Credit Facility B1 05/31/14 Telecom/Tech./Media
Smart & Final Stores Corp. US$ 398.0 Bank Credit Facility B3 05/31/14 Retail/Apparel
Kronos Incorporated US$ 355.0 Bank Credit Facility Caa1 06/01/14 Telecom/Tech./Media
ISP Chemco LLC US$ 1217.48 Bank Credit Facility Ba3 06/04/14 Energy/Natural Resources/Chemicals
Rite Aid Corporation US$ 319.0 Bank Credit Facility B3 SGL-3 06/04/14 Retail/Apparel
Rite Aid Corporation US$ 1091.0 Bank Credit Facility B3 SGL-3 06/04/14 Retail/Apparel
Berry Plastics Group, Inc. US$ 79.7 Bank Credit Facility Caa2 06/05/14 Diversified Industrials/Services/Paper
Barneys New York, Inc. US$ 270.9 Bank Credit Facility Caa3 06/06/14 Retail/Apparel
Fender Musical Instruments Corporation US$ 200.0 Bank Credit Facility B2 06/07/14 Consumer Products
Fender Musical Instruments Corporation US$ 100.0 Bank Credit Facility B2 06/07/14 Consumer Products
Riviera Holdings Corporation US$ 225.0 Bank Credit Facility Ca 06/08/14 Food/Entertainment/Lodging
Cumulus Media Inc. US$ 646.04 Bank Credit Facility Caa1 06/11/14 Telecom/Tech./Media

55 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Citadel Broadcasting Corporation US$ 1347.52 Bank Credit Facility Caa3 SGL-4 06/12/14 Telecom/Tech./Media
FHC Health Systems, Inc. US$ 89.0 Bank Credit Facility B3 06/13/14 Healthcare/Healthcare Equipment
Educate, Inc. US$ 75.0 Bank Credit Facility B3 06/14/14 Diversified Industrials/Services/Paper
OSI Restaurant Partners, Inc. US$ 1175.18 Bank Credit Facility B3 SGL-3 06/14/14 Food/Entertainment/Lodging
Dollar Thrifty Automotive Group, Inc. US$ 158.0 Bank Credit Facility Caa3 SGL-4 06/15/14 Auto/Transportation/Defense
IASIS Healthcare Corporation US$ 363.0 Bank Credit Facility Caa1 06/15/14 Healthcare/Healthcare Equipment
Intralinks, Inc. US$ 130.0 Bank Credit Facility B1 06/15/14 Telecom/Tech./Media
Maidenform Brands, Inc. US$ 87.8 Bank Credit Facility Ba2 06/15/14 Retail/Apparel
Sheridan Holdings, Inc. US$ 395.0 Bank Credit Facility B1 06/15/14 Diversified Industrials/Services/Paper
Building
Specialized Technology Resources, Inc. US$ 180.84 Bank Credit Facility B1 06/15/14 Products/Manufacturing/Homebuilding
Water Pik, Inc. US$ 35.0 Bank Credit Facility Caa1 06/15/14 Consumer Products
CTI Foods Holding Co, LLC US$ 34.1 Bank Credit Facility Caa1 06/18/14 Food/Entertainment/Lodging
JHCI Acquisition, Inc. US$ 288.36 Bank Credit Facility B1 06/19/14 Auto/Transportation/Defense
JHCI Acquisition, Inc. US$ 135.0 Bank Credit Facility Caa2 06/19/14 Auto/Transportation/Defense
Concentra Inc. US$ 322.58 Bank Credit Facility Ba3 06/25/14 Healthcare/Healthcare Equipment
Viant Holdings, Inc. US$ 264.75 Bank Credit Facility Ba3 06/25/14 Diversified Industrials/Services/Paper
Inverness Medical Innovations, Inc. US$ 953.44 Bank Credit Facility Ba2 SGL-2 06/26/14 Healthcare/Healthcare Equipment
EnerSys US$ 213.75 Bank Credit Facility Ba1 06/27/14 Diversified Industrials/Services/Paper
Triumph Healthcare Second Holdings, LLC US$ 90.0 Bank Credit Facility Caa1 06/28/14 Healthcare/Healthcare Equipment
WideOpenWest Finance, LLC US$ 970.13 Bank Credit Facility B1 06/28/14 Telecom/Tech./Media
Building
AmerCable Incorporated US$ 88.37 Bank Credit Facility B2 06/29/14 Products/Manufacturing/Homebuilding
Gabriel Communications Finance Company US$ 257.05 Bank Credit Facility B2 06/29/14 Telecom/Tech./Media
Hargray Communications Group, Inc. US$ 187.3 Bank Credit Facility B1 06/29/14 Telecom/Tech./Media
VWR Funding, Inc. US$ 876.4 Bank Credit Facility B1 SGL-3 06/29/14 Healthcare/Healthcare Equipment
VWR Funding, Inc. US$ 613.4 Bank Credit Facility B1 SGL-3 06/29/14 Healthcare/Healthcare Equipment
Cequel Communications, LLC US$ 787.26 Bank Credit Facility B3 06/30/14 Telecom/Tech./Media
Golden Nugget, Inc. US$ 116.31 Bank Credit Facility Caa3 06/30/14 Food/Entertainment/Lodging
Golden Nugget, Inc. US$ 210.0 Bank Credit Facility Caa3 06/30/14 Food/Entertainment/Lodging
Harland Clarke Holdings Corp. US$ 1759.5 Bank Credit Facility B1 SGL-2 06/30/14 Telecom/Tech./Media
Knology, Inc. US$ 395.79 Bank Credit Facility B1 SGL-2 06/30/14 Telecom/Tech./Media
Koosharem Corporation US$ 100.0 Bank Credit Facility Caa3 06/30/14 Diversified Industrials/Services/Paper
Novelis Corporation US$ 864.0 Bank Credit Facility Ba3 07/01/14 Energy/Natural Resources/Chemicals
Polypore, Inc. US$ 322.89 Bank Credit Facility Ba2 07/03/14 Auto/Transportation/Defense
U.S. Foodservice, Inc. US$ 2004.0 Bank Credit Facility B2 07/03/14 Retail/Apparel
Cengage Learning Acquisitions, Inc. US$ 3986.0 Bank Credit Facility B2 SGL-3 07/05/14 Telecom/Tech./Media
Center Cut Hospitality, Inc. US$ 106.03 Bank Credit Facility B3 SGL-4 07/06/14 Food/Entertainment/Lodging
Dollar General Corporation US$ 600.0 Bank Credit Facility B2 SGL-1 07/06/14 Retail/Apparel
Dollar General Corporation US$ 1700.0 Bank Credit Facility Ba3 SGL-1 07/06/14 Retail/Apparel
inVentiv Health, Inc. US$ 323.0 Bank Credit Facility Ba3 SGL-1 07/06/14 Diversified Industrials/Services/Paper
Novelis Inc. US$ 293.0 Bank Credit Facility Ba3 SGL-3 07/06/14 Energy/Natural Resources/Chemicals

56 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Express LLC US$ 122.5 Bank Credit Facility B1 07/07/14 Retail/Apparel
NightHawk Radiology Holdings Inc. US$ 81.4 Bank Credit Facility B1 SGL-2 07/10/14 Healthcare/Healthcare Equipment
Harlan Laboratories, Inc. US$ 300.0 Bank Credit Facility B2 07/11/14 Healthcare/Healthcare Equipment
Harrington Holdings, Inc. US$ 50.0 Bank Credit Facility Caa1 07/11/14 Healthcare/Healthcare Equipment
Building
LN Acquisition Corp. US$ 300.75 Bank Credit Facility B1 07/11/14 Products/Manufacturing/Homebuilding
Quantum Corporation US$ 187.01 Bank Credit Facility B1 07/12/14 Telecom/Tech./Media
FoxCO Acquisition Sub L.L.C. US$ 50.0 Bank Credit Facility B2 07/14/14 Telecom/Tech./Media
Rain CII Carbon LLC US$ 75.0 Bank Credit Facility B1 07/14/14 Energy/Natural Resources/Chemicals
Wyle Laboratories, Inc. (Old) US$ 165.5 Bank Credit Facility B1 07/17/14 Auto/Transportation/Defense
NTELOS Inc. US$ 500.0 Bank Credit Facility Ba3 07/23/14 Telecom/Tech./Media
ServiceMaster Company (The) US$ 2590.4 Bank Credit Facility B1 SGL-2 07/24/14 Diversified Industrials/Services/Paper
ServiceMaster Company (The) US$ 150.0 Bank Credit Facility B1 SGL-2 07/24/14 Diversified Industrials/Services/Paper
CHS/Community Health Systems, Inc. US$ 6054.0 Bank Credit Facility Ba3 SGL-2 07/25/14 Healthcare/Healthcare Equipment
Orbitz Worldwide, Inc. US$ 578.0 Bank Credit Facility B2 SGL-3 07/25/14 Telecom/Tech./Media
Ticketmaster US$ 350.0 Bank Credit Facility Ba1 SGL-1 07/25/14 Food/Entertainment/Lodging
CoActive Technologies, Inc. US$ 119.0 Bank Credit Facility Caa2 07/26/14 Diversified Industrials/Services/Paper
Atlas Pipeline Partners, L.P. US$ 434.0 Bank Credit Facility B1 SGL-4 07/27/14 Energy/Natural Resources/Chemicals
BE Aerospace, Inc. US$ 518.4 Bank Credit Facility Ba1 SGL-1 07/28/14 Auto/Transportation/Defense
PQ Corporation US$ 1119.0 Bank Credit Facility B3 07/30/14 Energy/Natural Resources/Chemicals
Booz Allen Hamilton Inc. US$ 118.8 Bank Credit Facility Ba2 07/31/14 Auto/Transportation/Defense
Booz Allen Hamilton Inc. US$ 100.0 Bank Credit Facility Ba2 07/31/14 Auto/Transportation/Defense
Veyance Technologies Inc. US$ 686.0 Bank Credit Facility B3 07/31/14 Diversified Industrials/Services/Paper
Veyance Technologies Inc. US$ 98.2 Bank Credit Facility B3 07/31/14 Diversified Industrials/Services/Paper
Communications & Power Industries, Inc. US$ 84.0 Bank Credit Facility Ba2 08/01/14 Auto/Transportation/Defense
Building
GSI Holdings, LLC US$ 298.9 Bank Credit Facility B2 08/01/14 Products/Manufacturing/Homebuilding
Managed Health Care Associates, Inc. US$ 146.22 Bank Credit Facility B1 08/01/14 Diversified Industrials/Services/Paper
PRIMEDIA Inc. US$ 231.63 Bank Credit Facility Ba3 SGL-2 08/01/14 Telecom/Tech./Media
Select Medical Corporation US$ 302.4 Bank Credit Facility Ba2 08/01/14 Healthcare/Healthcare Equipment
Sugarhouse HSP Gaming Prop. Mezz, L.P. US$ 150.0 Bank Credit Facility B3 08/01/14 Food/Entertainment/Lodging
Sugarhouse HSP Gaming Prop. Mezz, L.P. US$ 20.0 Bank Credit Facility B3 08/01/14 Food/Entertainment/Lodging
Sugarhouse HSP Gaming Prop. Mezz, L.P. US$ 10.0 Bank Credit Facility B3 08/01/14 Food/Entertainment/Lodging
Advanced Homecare Holdings, Inc. US$ 103.7 Bank Credit Facility B1 08/03/14 Healthcare/Healthcare Equipment
TriZetto Group, Inc. (The) US$ 65.0 Bank Credit Facility Ba3 08/04/14 Diversified Industrials/Services/Paper
TriZetto Group, Inc. (The) US$ 76.0 Bank Credit Facility Ba3 08/04/14 Diversified Industrials/Services/Paper
Green Valley Ranch Gaming, LLC US$ 250.0 Bank Credit Facility Ca 08/06/14 Food/Entertainment/Lodging
Allison Transmission, Inc. US$ 2950.0 Bank Credit Facility B2 08/07/14 Auto/Transportation/Defense
Instant Web, Inc. US$ 25.0 Bank Credit Facility B1 08/07/14 Telecom/Tech./Media
Instant Web, Inc. US$ 248.8 Bank Credit Facility B1 08/07/14 Telecom/Tech./Media
LabelCorp Holdings, Inc. US$ 158.5 Bank Credit Facility B1 08/08/14 Diversified Industrials/Services/Paper
Syniverse Technologies, Inc. US$ 112.0 Bank Credit Facility Ba2 08/09/14 Telecom/Tech./Media

57 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Syniverse Technologies, Inc. US$ 160.0 Bank Credit Facility Ba2 08/09/14 Telecom/Tech./Media
Aeroflex Incorporated (Veritas Capital) US$ 392.0 Bank Credit Facility Ba3 SGL-2 08/15/14 Telecom/Tech./Media
Aeroflex Incorporated (Veritas Capital) US$ 122.5 Bank Credit Facility B3 SGL-2 08/15/14 Telecom/Tech./Media
Colt Defense LLC US$ 131.5 Bank Credit Facility Ba3 08/15/14 Auto/Transportation/Defense
Production Resource Group, L.L.C. US$ 302.4 Bank Credit Facility B2 08/16/14 Telecom/Tech./Media
Vertrue Incorporated US$ 415.95 Bank Credit Facility Ba3 08/16/14 Telecom/Tech./Media
Collective Brands Finance, Inc US$ 639.1 Bank Credit Facility B1 08/17/14 Retail/Apparel
Laureate Education, Inc. US$ 942.0 Bank Credit Facility B1 08/17/14 Diversified Industrials/Services/Paper
Synchronous Aerospace Group US$ 73.69 Bank Credit Facility B3 08/21/14 Auto/Transportation/Defense
Hunter Defense Technologies, Inc. US$ 156.4 Bank Credit Facility B1 08/22/14 Auto/Transportation/Defense
Symbion, Inc. US$ 117.0 Bank Credit Facility Ba3 SGL-3 08/23/14 Healthcare/Healthcare Equipment
GateHouse Media Operating, Inc. US$ 670.0 Bank Credit Facility Ca 08/28/14 Telecom/Tech./Media
GateHouse Media Operating, Inc. US$ 250.0 Bank Credit Facility Ca 08/28/14 Telecom/Tech./Media
GateHouse Media Operating, Inc. US$ 275.0 Bank Credit Facility Ca 08/28/14 Telecom/Tech./Media
Cedar Fair, L.P. US$ 832.25 Bank Credit Facility Ba3 SGL-3 08/30/14 Food/Entertainment/Lodging
Hyland Software, Inc. US$ 18.5 Bank Credit Facility Caa1 08/31/14 Telecom/Tech./Media
Sunquest Information Systems, Inc. US$ 190.0 Bank Credit Facility B1 09/01/14 Telecom/Tech./Media
CCO Holdings, LLC US$ 350.0 Bank Credit Facility B2 09/06/14 Telecom/Tech./Media
TWCC Holding Corp. US$ 150.0 Bank Credit Facility Ba2 09/12/14 Telecom/Tech./Media
Building
Building Materials Corporation of America US$ 325.0 Bank Credit Facility Caa2 09/15/14 Products/Manufacturing/Homebuilding
Advance Food Company, Inc. US$ 50.0 Bank Credit Facility B3 09/16/14 Food/Entertainment/Lodging
First Data Corporation US$ 2940.0 Bank Credit Facility B1 09/24/14 Telecom/Tech./Media
First Data Corporation US$ 4349.5 Bank Credit Facility B1 09/24/14 Telecom/Tech./Media
First Data Corporation US$ 4250.0 Bank Credit Facility B1 09/24/14 Telecom/Tech./Media
First Data Corporation US$ 125.0 Bank Credit Facility B1 09/24/14 Telecom/Tech./Media
First Data Corporation US$ 1017.5 Bank Credit Facility B1 09/24/14 Telecom/Tech./Media
Consolidated Container Company LLC US$ 227.194 Bank Credit Facility Caa1 09/28/14 Diversified Industrials/Services/Paper
National Processing Company Group, Inc. US$ 140.0 Bank Credit Facility Caa2 09/29/14 Telecom/Tech./Media
Univision Communications, Inc. US$ 7000.0 Bank Credit Facility B2 SGL-3 09/29/14 Telecom/Tech./Media
Univision Communications, Inc. US$ 450.0 Bank Credit Facility B2 SGL-3 09/29/14 Telecom/Tech./Media
Wesco Aircraft Hardware Corp. US$ 150.0 Bank Credit Facility Caa1 09/29/14 Auto/Transportation/Defense
CompuCom Systems, Inc. (CSC) US$ 173.0 Bank Credit Facility Ba2 09/30/14 Telecom/Tech./Media
Sabre Inc. US$ 2894.0 Bank Credit Facility B1 09/30/14 Telecom/Tech./Media
SRAM Corporation US$ 201.0 Bank Credit Facility Ba3 09/30/14 Consumer Products
SRAM Corporation US$ 10.0 Bank Credit Facility Ba3 09/30/14 Consumer Products
Synagro Technologies, Inc. US$ 150.0 Bank Credit Facility Caa3 09/30/14 Diversified Industrials/Services/Paper
Catalina Marketing Corporation US$ 627.0 Bank Credit Facility Ba3 10/01/14 Telecom/Tech./Media
Flextronics International Ltd. US$ 1700.45 Bank Credit Facility Ba1 SGL-1 10/01/14 Telecom/Tech./Media
US Xpress Enterprises Inc. US$ 164.0 Bank Credit Facility B2 10/01/14 Auto/Transportation/Defense
Mylan Inc. US$ 2479.0 Bank Credit Facility Ba3 SGL-1 10/02/14 Healthcare/Healthcare Equipment

58 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Guitar Center Inc. US$ 650.0 Bank Credit Facility B3 SGL-3 10/09/14 Consumer Products
CDW Corporation US$ 2194.5 Bank Credit Facility B2 SGL-2 10/10/14 Telecom/Tech./Media
Texas Competitive Electric Holdings Co LLC US$ 16045.0 Bank Credit Facility B2 10/10/14 Utilities
Texas Competitive Electric Holdings Co LLC US$ 4100.0 Bank Credit Facility B2 10/10/14 Utilities
Texas Competitive Electric Holdings Co LLC US$ 1250.0 Bank Credit Facility B2 10/10/14 Utilities
Univar Inc. US$ 166.8 Bank Credit Facility B2 10/11/14 Energy/Natural Resources/Chemicals
Univar Inc. US$ 979.7 Bank Credit Facility B2 10/11/14 Energy/Natural Resources/Chemicals
BioReliance Corporation US$ 40.0 Bank Credit Facility Caa2 10/12/14 Healthcare/Healthcare Equipment
Hunter Fan Company US$ 60.0 Bank Credit Facility Caa2 10/16/14 Consumer Products
Coach America Holdings, Inc. US$ 55.0 Bank Credit Facility Caa2 10/20/14 Auto/Transportation/Defense
Arinc Incorporated US$ 60.0 Bank Credit Facility B3 10/24/14 Auto/Transportation/Defense
Avaya, Inc. US$ 3700.0 Bank Credit Facility Ba3 10/26/14 Telecom/Tech./Media
Chem Rx Corporation US$ 37.0 Bank Credit Facility Caa2 SGL-4 10/26/14 Healthcare/Healthcare Equipment
Sun Products Corporation US$ 225.0 Bank Credit Facility B2 10/26/14 Consumer Products
GenTek Holding, LLC US$ 325.0 Bank Credit Facility B1 10/29/14 Energy/Natural Resources/Chemicals
Warner Chilcott Corporation US$ 1000.0 Bank Credit Facility B1 SGL-1 10/30/14 Healthcare/Healthcare Equipment
Warner Chilcott Corporation US$ 250.0 Bank Credit Facility B1 SGL-1 10/30/14 Healthcare/Healthcare Equipment
Arinc Incorporated US$ 286.39 Bank Credit Facility B3 10/31/14 Auto/Transportation/Defense
Generics International (US), Inc. US$ 261.0 Bank Credit Facility B1 10/31/14 Healthcare/Healthcare Equipment
Generics International (US), Inc. US$ 27.0 Bank Credit Facility B1 10/31/14 Healthcare/Healthcare Equipment
Pierre Foods, Inc. US$ 155.2 Bank Credit Facility B2 10/31/14 Consumer Products
JohnsonDiversey, Inc. US$ 250.0 Bank Credit Facility Ba2 SGL-2 11/01/14 Diversified Industrials/Services/Paper
Language Line, LLC US$ 50.0 Bank Credit Facility Ba3 SGL-1 11/01/14 Diversified Industrials/Services/Paper
Metavante Corporation US$ 800.0 Bank Credit Facility Ba1 11/01/14 Diversified Industrials/Services/Paper
Lear Corporation US$ 200.0 Bank Credit Facility Ba2 SGL-3 11/05/14 Auto/Transportation/Defense
Building
Manitowoc Company, Inc. (The) US$ 1191.0 Bank Credit Facility B1 11/06/14 Products/Manufacturing/Homebuilding
Universal City Development Partners, Ltd. US$ 900.0 Bank Credit Facility Ba2 11/06/14 Telecom/Tech./Media
Ceridian Corp. US$ 2212.9 Bank Credit Facility B1 SGL-2 11/09/14 Telecom/Tech./Media
Dayco Products, LLC US$ 25.0 Bank Credit Facility B2 11/13/14 Auto/Transportation/Defense
Wynnewood Refining Company US$ 150.0 Bank Credit Facility B2 11/13/14 Energy/Natural Resources/Chemicals
Funding Co. (Varel) US$ 140.0 Bank Credit Facility B3 11/15/14 Energy/Natural Resources/Chemicals
Transaction Network Services, Inc. US$ 75.0 Bank Credit Facility Ba3 11/16/14 Telecom/Tech./Media
Cristal Inorganic Chemicals Ltd. US$ 230.0 Bank Credit Facility Caa1 11/18/14 Energy/Natural Resources/Chemicals
Springboard Finance LLC US$ 700.0 Bank Credit Facility B1 11/19/14 Telecom/Tech./Media
Coinmach Service Corp. US$ 712.313 Bank Credit Facility Caa1 SGL-4 11/20/14 Consumer Products
Coinmach Service Corp. US$ 49.625 Bank Credit Facility Caa1 SGL-4 11/20/14 Consumer Products
MSCI Inc. US$ 221.1 Bank Credit Facility Ba2 SGL-1 11/20/14 Diversified Industrials/Services/Paper
Central Parking Corporation US$ 50.0 Bank Credit Facility B2 11/22/14 Diversified Industrials/Services/Paper
Polymer Group, Inc. US$ 273.35 Bank Credit Facility Ba3 11/22/14 Diversified Industrials/Services/Paper
Intergraph Corporation US$ 200.0 Bank Credit Facility B3 11/29/14 Telecom/Tech./Media

59 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

FACILITY MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE FINAL INDUSTRY
Enterprise GP Holdings L.P. US$ 841.5 Bank Credit Facility Ba2 11/30/14 Energy/Natural Resources/Chemicals
Neff Corp. US$ 290.0 Bank Credit Facility Ca SGL-4 11/30/14 Auto/Transportation/Defense
Smart & Final Stores Corp. US$ 140.0 Bank Credit Facility Caa2 11/30/14 Retail/Apparel
HCR Healthcare LLC US$ 484.0 Bank Credit Facility Ba2 12/01/14 Healthcare/Healthcare Equipment
SW Acquisition Co., Inc. US$ 140.0 Bank Credit Facility Ba2 12/01/14 Food/Entertainment/Lodging
Sequa Corporation US$ 953.96 Bank Credit Facility B2 12/03/14 Auto/Transportation/Defense
PRA International US$ 68.78 Bank Credit Facility B1 12/13/14 Healthcare/Healthcare Equipment
PRA International US$ 85.0 Bank Credit Facility B3 12/13/14 Healthcare/Healthcare Equipment
Freescale Semiconductor, Inc. US$ 552.0 Bank Credit Facility B2 SGL-3 12/15/14 Telecom/Tech./Media
Intralinks, Inc. US$ 30.0 Bank Credit Facility Caa1 12/15/14 Telecom/Tech./Media
Intralinks, Inc. US$ 35.0 Bank Credit Facility Caa1 12/15/14 Telecom/Tech./Media
Building
Specialized Technology Resources, Inc. US$ 75.0 Bank Credit Facility Caa1 12/15/14 Products/Manufacturing/Homebuilding
Billing Services Group North America, Inc. US$ 80.39 Bank Credit Facility B1 12/19/14 Diversified Industrials/Services/Paper
Georgia-Pacific LLC US$ 997.0 Bank Credit Facility Ba2 12/23/14 Diversified Industrials/Services/Paper
CommScope, Inc. US$ 838.3 Bank Credit Facility Ba2 12/27/14 Telecom/Tech./Media
Federal-Mogul Corporation (Reorganized) US$ 50.0 Bank Credit Facility Ba3 SGL-2 12/27/14 Auto/Transportation/Defense
Federal-Mogul Corporation (Reorganized) US$ 1925.7 Bank Credit Facility Ba3 SGL-2 12/27/14 Auto/Transportation/Defense
Surgical Care Affiliates US$ 347.0 Bank Credit Facility Ba3 SGL-2 12/29/14 Healthcare/Healthcare Equipment
Awesome Acquisition Company, LP US$ 40.0 Bank Credit Facility Caa1 12/31/14 Food/Entertainment/Lodging
Consolidated Communications, Inc. US$ 760.0 Bank Credit Facility B1 SGL-2 12/31/14 Telecom/Tech./Media
Consolidated Communications, Inc. US$ 120.0 Bank Credit Facility B1 SGL-2 12/31/14 Telecom/Tech./Media
Golden Nugget, Inc. US$ 131.82 Bank Credit Facility C 12/31/14 Food/Entertainment/Lodging
Gray Television, Inc. US$ 793.83 Bank Credit Facility Caa1 SGL-4 12/31/14 Telecom/Tech./Media

60 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

APPENDIX II

Bonds

U.S. Speculative Grade Corporate Bond Issuers, 2010-2014


(Based on data and ratings as of November 12, 2009. All amounts are in US$ millions)
BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
American Airlines 1988-A Grantor
Trust US$ 7.268 Equipment Trust Caa1 01/01/10 Auto/Transportation/Defence
American Airlines, Inc. US$ 1.822 Equipment Trust Caa1 01/02/10 Auto/Transportation/Defence
American Airlines, Inc. US$ 1.822 Equipment Trust Caa1 01/02/10 Auto/Transportation/Defence
American Airlines, Inc. US$ 1.822 Equipment Trust Caa1 01/02/10 Auto/Transportation/Defence
American Airlines, Inc. US$ 3.072 Equipment Trust Caa1 01/15/10 Auto/Transportation/Defence
Clear Channel Communications, Inc. US$ 239.975 Regular
(Old) Bond/Debenture Ca 01/15/10 Telecom/Tech./Media
Building
D.R. Horton, Inc. US$ 143.9 Regular Bond/Debenture Ba3 SGL-2 01/15/10 Products/Manufacturing/Homebuilding
US$ 11.063 Regular Building
K. Hovnanian Enterprises, Inc. Bond/Debenture Caa3 01/15/10 Products/Manufacturing/Homebuilding
Building
Interface, Inc. US$ 14.571 Regular Bond/Debenture B1 02/01/10 Products/Manufacturing/Homebuilding
Tyson Fresh Meats, Inc. US$ 140.0 Regular Bond/Debenture Ba2 02/01/10 Food/Entertainment/Lodging
HCA, Inc. (Oldco) US$ 121.18 Regular Bond/Debenture Caa1 02/10/10 Healthcare/Healthcare Equipment
US$ 297.556 Regular
Mandalay Resort Group Bond/Debenture Ca 02/15/10 Food/Entertainment/Lodging
Hanna (M A) Company US$ 20.0 Regular Bond/Debenture B1 02/23/10 Energy/Natural Resources/Chemicals
US$ 392.818 Regular
Penney (J.C.) Corporation, Inc. Bond/Debenture Ba1 SGL-1 03/01/10 Retail/Apparel
US$ 251.885 Enhanced Equipment
United Air Lines, Inc. Trust B2 SGL-3 03/01/10 Auto/Transportation/Defence
American Airlines, Inc. US$ 2.124 Equipment Trust Caa1 03/04/10 Auto/Transportation/Defence
American Airlines, Inc. US$ 3.29 Equipment Trust Caa1 03/04/10 Auto/Transportation/Defence
American Airlines, Inc. US$ 3.29 Equipment Trust Caa1 03/04/10 Auto/Transportation/Defence
American Airlines, Inc. US$ 3.309 Equipment Trust Caa1 03/04/10 Auto/Transportation/Defence
American Airlines, Inc. US$ 3.309 Equipment Trust Caa1 03/04/10 Auto/Transportation/Defence
American Airlines, Inc. US$ 1.445 Equipment Trust Caa2 03/04/10 Auto/Transportation/Defence
American Airlines, Inc. US$ 2.259 Equipment Trust Caa2 03/04/10 Auto/Transportation/Defence
American Airlines, Inc. US$ 2.269 Equipment Trust Caa2 03/04/10 Auto/Transportation/Defence
Building
Masco Corporation US$ 300.0 Regular Bond/Debenture Ba2 SGL-2 03/12/10 Products/Manufacturing/Homebuilding
American Airlines, Inc. US$ 2.108 Equipment Trust Caa1 03/15/10 Auto/Transportation/Defence
American Airlines, Inc. US$ 2.108 Equipment Trust Caa1 03/15/10 Auto/Transportation/Defence
American Airlines, Inc. US$ 2.108 Equipment Trust Caa1 03/15/10 Auto/Transportation/Defence
American Airlines, Inc. US$ 2.569 Equipment Trust Caa2 03/15/10 Auto/Transportation/Defence
Caesars Entertainment, Inc. US$ 232.1 Regular Bond/Debenture Ca 03/15/10 Food/Entertainment/Lodging

61 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
US$ 111.0 Conv./Exch.
Level 3 Communications, Inc. Bond/Debenture Caa3 SGL-1 03/15/10 Telecom/Tech./Media
US$ 64.915 Regular
Unisys Corporation Bond/Debenture Caa1 SGL-2 03/15/10 Telecom/Tech./Media
Universal City Development
Partners, Ltd. US$ 500.0 Regular Bond/Debenture B2 04/01/10 Telecom/Tech./Media
Alaska Airlines Inc. US$ 1.793 Equipment Trust B1 04/12/10 Auto/Transportation/Defence
USF Corporation US$ 150.0 Regular Bond/Debenture Ca 04/15/10 Auto/Transportation/Defence
US$ 116.7 Conv./Exch.
Maxtor Corporation Bond/Debenture Ba3 04/30/10 Telecom/Tech./Media
US$ 164.543 Regular
New Albertson's, Inc. Bond/Debenture Ba3 05/01/10 Retail/Apparel
Orion Power Holdings, Inc. US$ 399.4 Regular Bond/Debenture Ba3 05/01/10 Utilities
Universal City Florida Holding Co. II US$ 150.0 Regular Bond/Debenture Caa2 05/01/10 Telecom/Tech./Media
Universal City Florida Holding Co. II US$ 300.0 Regular Bond/Debenture Caa2 05/01/10 Telecom/Tech./Media
Owens-Illinois Inc. US$ 28.1 Regular Bond/Debenture B2 SGL-2 05/15/10 Diversified Industrials/Services/Paper
Royal Caribbean Cruises Ltd. US$ 250.0 Regular Bond/Debenture Ba3 SGL-3 05/15/10 Food/Entertainment/Lodging
Affiliated Computer Services, Inc. US$ 250.0 Regular Bond/Debenture Ba2 SGL-1 06/01/10 Telecom/Tech./Media
Macy's, Inc. US$ 76.0 Regular Bond/Debenture Ba2 SGL-2 06/01/10 Retail/Apparel
American Airlines, Inc. US$ 1.155 Equipment Trust Caa2 06/15/10 Auto/Transportation/Defence
American Airlines, Inc. US$ 2.524 Equipment Trust Caa2 06/15/10 Auto/Transportation/Defence
El Paso CGP Company US$ 1.933 Regular Bond/Debenture Ba3 06/15/10 Energy/Natural Resources/Chemicals
US$ 148.668 Regular
El Paso Corporation Bond/Debenture Ba3 SGL-3 06/15/10 Energy/Natural Resources/Chemicals
US$ 13.128 Regular
First Data Corporation (Old) Bond/Debenture Caa2 06/15/10 Telecom/Tech./Media
US$ 50.001 Regular
Hertz Corporation (The) (Old) Bond/Debenture B3 06/15/10 Auto/Transportation/Defence
Sprint Nextel Corporation US$ 750.0 Regular Bond/Debenture Ba2 SGL-1 06/28/10 Telecom/Tech./Media
Flextronics International Ltd. US$ 7.687 Regular Bond/Debenture Ba2 SGL-1 07/01/10 Telecom/Tech./Media
Harrah's Operating Company, Inc.
(Old) US$ 227.7 Regular Bond/Debenture Ca 07/01/10 Food/Entertainment/Lodging
US$ 3.66072 Enhanced Equipment
America West Airlines, Inc. Trust B2 07/02/10 Auto/Transportation/Defence
Willamette Industries, Inc. US$ 3.0 Regular Bond/Debenture Ba1 07/09/10 Diversified Industrials/Services/Paper
Jabil Circuit, Inc. US$ 5.1 Regular Bond/Debenture Ba1 SGL-1 07/15/10 Telecom/Tech./Media
US$ 46.0 Conv./Exch.
Level 3 Communications, Inc. Bond/Debenture Caa3 SGL-1 07/15/10 Telecom/Tech./Media
CMS Energy Corporation US$ 67.3 Regular Bond/Debenture Ba1 08/01/10 Utilities
US$ 72.819 Conv./Exch.
Quantum Corporation Bond/Debenture Caa2 08/01/10 Telecom/Tech./Media
Sears Roebuck Acceptance Corp. US$ 2.964 Regular Bond/Debenture Ba3 08/09/10 Retail/Apparel
Louisiana-Pacific Corporation US$ 60.16 Regular Bond/Debenture B2 SGL-3 08/15/10 Diversified Industrials/Services/Paper
US$ 402.923 Regular
Qwest Capital Funding, Inc. Bond/Debenture B1 08/15/10 Telecom/Tech./Media
Standard Pacific Corp. US$ 15.049 Regular Caa1 SGL-3 08/15/10 Building

62 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
Bond/Debenture Products/Manufacturing/Homebuilding

CenterPoint Energy, Inc. US$ 200.0 Regular Bond/Debenture Ba1 09/01/10 Utilities
US$ 440.02 Regular
HCA, Inc. (Oldco) Bond/Debenture Caa1 09/01/10 Healthcare/Healthcare Equipment
Mashantucket (Western) Pequot
Tribe, CT US$ 1.11 Regular Bond/Debenture Caa3 09/01/10 Food/Entertainment/Lodging
US$ 213.609 Regular
AES Corporation, (The) Bond/Debenture B1 SGL-2 09/15/10 Utilities
American Airlines, Inc. US$ 3.462 Equipment Trust Caa1 09/15/10 Auto/Transportation/Defence
American Airlines, Inc. US$ 3.462 Equipment Trust Caa1 09/15/10 Auto/Transportation/Defence
American Airlines, Inc. US$ 3.462 Equipment Trust Caa1 09/15/10 Auto/Transportation/Defence
Clear Channel Communications, Inc. US$ 116.181 Regular
(Old) Bond/Debenture Ca 09/15/10 Telecom/Tech./Media
US$ 70.477 Regular Building
D.R. Horton, Inc. Bond/Debenture B2 SGL-2 09/15/10 Products/Manufacturing/Homebuilding
MGM MIRAGE US$ 782.0 Regular Bond/Debenture Caa2 SGL-4 09/15/10 Food/Entertainment/Lodging
US$ 32.909 Regular
El Paso Corporation Bond/Debenture Ba3 SGL-3 10/01/10 Energy/Natural Resources/Chemicals
Building
Lennar Corporation US$ 300.0 Regular Bond/Debenture B3 SGL-2 10/01/10 Products/Manufacturing/Homebuilding
Alaska Airlines Inc. US$ 0.5448 Equipment Trust B1 10/12/10 Auto/Transportation/Defence
Alaska Airlines Inc. US$ 1.674 Equipment Trust B1 10/12/10 Auto/Transportation/Defence
Majestic Star Casino, L.L.C. (The) US$ 300.0 Regular Bond/Debenture Caa3 10/15/10 Food/Entertainment/Lodging
US$ 47.427 Regular Building
Centex Corporation Bond/Debenture B1 11/01/10 Products/Manufacturing/Homebuilding
May Department Stores Company
(The) US$ 150.0 Regular Bond/Debenture Ba2 11/01/10 Retail/Apparel
OfficeMax, Incorporated US$ 13.68 Regular Bond/Debenture B2 SGL-2 11/01/10 Retail/Apparel
Roseton-Danskammer 2001 US$ 28.345 Pass-Through B2 11/08/10 Utilities
Conexant Systems Inc. US$ 68.35 Regular Bond/Debenture B1 SGL-3 11/15/10 Telecom/Tech./Media
Inn of the Mountain Gods Resort
and Casino US$ 200.0 Regular Bond/Debenture Ca 11/15/10 Food/Entertainment/Lodging
Interpublic Group of Companies, Inc.
(The) US$ 213.7 Regular Bond/Debenture Ba3 SGL-1 11/15/10 Telecom/Tech./Media
US$ 21.949 Regular
Massey Energy Company Bond/Debenture B2 11/15/10 Energy/Natural Resources/Chemicals
US$ 16.031 Regular
Quality Distribution, LLC Bond/Debenture Caa3 11/15/10 Auto/Transportation/Defence
US$ 22.859 Regular
Saks Incorporated Bond/Debenture Caa1 12/01/10 Retail/Apparel
American Airlines, Inc. US$ 2.5 Equipment Trust Caa2 12/15/10 Auto/Transportation/Defence
Cleveland Unlimited, Inc. US$ 150.0 Regular Bond/Debenture Caa2 SGL-4 12/15/10 Telecom/Tech./Media
Salem Communications Holding
Corporation US$ 89.6 Regular Bond/Debenture Caa2 12/15/10 Telecom/Tech./Media
Turning Stone Resort Casino LLC US$ 160.0 Regular Bond/Debenture B1 12/15/10 Food/Entertainment/Lodging
Universal Corporation US$ 15.0 Regular Bond/Debenture Ba2 12/15/10 Consumer Products
American Airlines, Inc. US$ 2.631 Equipment Trust Caa1 01/02/11 Auto/Transportation/Defence

63 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
American Airlines, Inc. US$ 2.631 Equipment Trust Caa1 01/02/11 Auto/Transportation/Defence
American Airlines, Inc. US$ 2.631 Equipment Trust Caa1 01/02/11 Auto/Transportation/Defence
Kinder Morgan Finance Company,
ULC US$ 750.0 Regular Bond/Debenture Ba1 01/05/11 Energy/Natural Resources/Chemicals
Boston Scientific Corporation US$ 250.0 Regular Bond/Debenture Ba1 SGL-2 01/12/11 Healthcare/Healthcare Equipment
American Airlines, Inc. US$ 2.955 Equipment Trust Caa1 01/15/11 Auto/Transportation/Defence
US$ 444.72 Regular
EXCO Resources, Inc. Bond/Debenture B3 01/15/11 Energy/Natural Resources/Chemicals
Intcomex, Inc US$ 105.0 Regular Bond/Debenture B3 SGL-4 01/15/11 Telecom/Tech./Media
Majestic Star Casino, L.L.C. (The) US$ 200.0 Regular Bond/Debenture C 01/15/11 Food/Entertainment/Lodging
Building
Mohawk Industries, Inc. US$ 500.0 Regular Bond/Debenture Ba2 SGL-2 01/15/11 Products/Manufacturing/Homebuilding
Viasystems, Inc. US$ 200.0 Regular Bond/Debenture Caa1 01/15/11 Telecom/Tech./Media
US$ 1650.0 Regular
Sprint Capital Corporation Bond/Debenture Ba2 01/30/11 Telecom/Tech./Media
US$ 85.589 Regular Building
Centex Corporation Bond/Debenture B1 02/01/11 Products/Manufacturing/Homebuilding
Harrah's Operating Company, Inc.
(Old) US$ 30.6 Regular Bond/Debenture Ca 02/01/11 Food/Entertainment/Lodging
US$ 273.321 Regular
HCA, Inc. (Oldco) Bond/Debenture Caa1 02/01/11 Healthcare/Healthcare Equipment
MGM MIRAGE US$ 400.0 Regular Bond/Debenture Ca SGL-4 02/01/11 Food/Entertainment/Lodging
US$ 297.94 Regular
Sears Roebuck Acceptance Corp. Bond/Debenture Ba3 02/01/11 Retail/Apparel
Royal Caribbean Cruises Ltd. US$ 500.0 Regular Bond/Debenture Ba3 SGL-3 02/02/11 Food/Entertainment/Lodging
New Albertson's, Inc. US$ 700.0 Regular Bond/Debenture Ba3 02/15/11 Retail/Apparel
Phillips Van Heusen Corporation US$ 150.0 Regular Bond/Debenture Ba3 02/15/11 Retail/Apparel
US$ 800.88 Regular
Qwest Capital Funding, Inc. Bond/Debenture B1 02/15/11 Telecom/Tech./Media
Qwest Communications US$ 522.61 Regular
International Inc. Bond/Debenture Ba3 SGL-1 02/15/11 Telecom/Tech./Media
Hanna (M A) Company US$ 20.0 Regular Bond/Debenture B1 02/23/11 Energy/Natural Resources/Chemicals
US$ 120.872 Regular
Hertz Corporation (The) (Old) Bond/Debenture B3 03/01/11 Auto/Transportation/Defence
Newfield Exploration Company US$ 175.0 Regular Bond/Debenture Ba1 03/01/11 Energy/Natural Resources/Chemicals
Building
Pulte Homes, Inc. US$ 13.9 Regular Bond/Debenture B1 SGL-2 03/01/11 Products/Manufacturing/Homebuilding
American Airlines, Inc. US$ 3.68 Equipment Trust Caa1 03/04/11 Auto/Transportation/Defence
American Airlines, Inc. US$ 3.68 Equipment Trust Caa1 03/04/11 Auto/Transportation/Defence
American Airlines, Inc. US$ 2.173 Equipment Trust Caa2 03/04/11 Auto/Transportation/Defence
American Airlines, Inc. US$ 2.512 Equipment Trust Caa2 03/04/11 Auto/Transportation/Defence
American Airlines, Inc. US$ 2.524 Equipment Trust Caa2 03/04/11 Auto/Transportation/Defence
American Airlines, Inc. US$ 2.238 Equipment Trust Caa1 03/15/11 Auto/Transportation/Defence
American Airlines, Inc. US$ 2.238 Equipment Trust Caa1 03/15/11 Auto/Transportation/Defence
American Airlines, Inc. US$ 2.238 Equipment Trust Caa1 03/15/11 Auto/Transportation/Defence
Amkor Technology, Inc. US$ 76.46 Regular Bond/Debenture B2 SGL-2 03/15/11 Telecom/Tech./Media

64 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
Building
Briggs & Stratton Corporation US$ 248.0 Regular Bond/Debenture Ba3 03/15/11 Products/Manufacturing/Homebuilding
Clear Channel Communications, Inc. US$ 692.74 Regular
(Old) Bond/Debenture Ca 03/15/11 Telecom/Tech./Media
US$ 19.9505 Enhanced Equipment
Continental Airlines, Inc. Trust B1 SGL-3 03/15/11 Auto/Transportation/Defence
Dole Food Company, Inc. US$ 200.0 Regular Bond/Debenture Caa1 03/15/11 Food/Entertainment/Lodging
Level 3 Financing, Inc. US$ 3.0 Regular Bond/Debenture Caa1 03/15/11 Telecom/Tech./Media
US$ 44.01352 Enhanced Equipment
American Airlines, Inc. Trust Ba1 04/01/11 Auto/Transportation/Defence
US$ 166.85 Enhanced Equipment
American Airlines, Inc. Trust Ba3 04/01/11 Auto/Transportation/Defence
CSC Holdings, Inc. US$ 325.8 Regular Bond/Debenture Ba3 04/01/11 Telecom/Tech./Media
Dynegy Holdings Inc. US$ 500.0 Regular Bond/Debenture B3 SGL-3 04/01/11 Utilities
Macy's, Inc. US$ 500.0 Regular Bond/Debenture Ba2 SGL-2 04/01/11 Retail/Apparel
Revlon Consumer Products
Corporation US$ 390.0 Regular Bond/Debenture Caa1 SGL-2 04/01/11 Consumer Products
US$ 33.00711 Enhanced Equipment
Continental Airlines, Inc. Trust B1 SGL-3 04/02/11 Auto/Transportation/Defence
US$ 213.38 Regular
CMS Energy Corporation Bond/Debenture Ba1 04/15/11 Utilities
US$ 242.30 Regular Building
D.R. Horton, Inc. Bond/Debenture Ba3 SGL-2 04/15/11 Products/Manufacturing/Homebuilding
US$ 9.54235 Enhanced Equipment
Continental Airlines, Inc. Trust B1 SGL-3 05/01/11 Auto/Transportation/Defence
Mirant Americas Generation, LLC. US$ 535.0 Regular Bond/Debenture B3 05/01/11 Utilities
US$ 42.579 Conv./Exch.
Amkor Technology, Inc. Bond/Debenture Caa1 SGL-2 05/15/11 Telecom/Tech./Media
US$ 127.30 Regular Building
Beazer Homes USA, Inc. Bond/Debenture Caa2 SGL-3 05/15/11 Products/Manufacturing/Homebuilding
Caesars Entertainment, Inc. US$ 128.0 Regular Bond/Debenture Ca 05/15/11 Food/Entertainment/Lodging
Clear Channel Communications, Inc. US$ 140.24 Regular
(Old) Bond/Debenture Ca 05/15/11 Telecom/Tech./Media
US$ 110.43 Regular
Da-Lite Screen Company, Inc. Bond/Debenture B1 SGL-2 05/15/11 Telecom/Tech./Media
US$ 193.01 Regular
El Paso Corporation Bond/Debenture Ba3 SGL-3 05/15/11 Energy/Natural Resources/Chemicals
Frontier Communications
Corporation US$ 76.14 Regular Bond/Debenture Ba2 SGL-1 05/15/11 Telecom/Tech./Media
Georgia-Pacific LLC US$ 600.0 Regular Bond/Debenture B2 05/15/11 Diversified Industrials/Services/Paper
US$ 306.763 Regular
RadioShack Corporation Bond/Debenture Ba1 SGL-1 05/15/11 Retail/Apparel
Building
Standard Pacific Corp. US$ 48.62 Regular Bond/Debenture Caa1 SGL-3 05/15/11 Products/Manufacturing/Homebuilding
US$ 391.909 Regular
American Airlines, Inc. Bond/Debenture B2 05/23/11 Auto/Transportation/Defence
Brunswick Corporation US$ 0.61 Regular Bond/Debenture Caa1 SGL-2 06/01/11 Consumer Products
US$ 433.43 Regular
Gannett Co., Inc. Bond/Debenture Ba2 SGL-3 06/01/11 Telecom/Tech./Media

65 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
US$ 166.20 Regular
Knight Ridder, Inc. Bond/Debenture Caa3 06/01/11 Telecom/Tech./Media
Libbey Glass Inc. US$ 306.0 Regular Bond/Debenture Caa1 SGL-3 06/01/11 Diversified Industrials/Services/Paper
Activant Solutions Inc. US$ 2.20 Regular Bond/Debenture B2 SGL-3 06/15/11 Telecom/Tech./Media
American Airlines, Inc. US$ 2.113 Equipment Trust Caa2 06/15/11 Auto/Transportation/Defence
AMR Corporation US$ 2.0 Regular Bond/Debenture Caa2 SGL-2 06/15/11 Auto/Transportation/Defence
Appleton Papers Inc. US$ 17.51 Regular Bond/Debenture Caa1 SGL-4 06/15/11 Diversified Industrials/Services/Paper
Boston Scientific Corporation US$ 600.0 Regular Bond/Debenture Ba1 SGL-2 06/15/11 Healthcare/Healthcare Equipment
US$ 37.1158 Enhanced Equipment
Continental Airlines, Inc. Trust B1 SGL-3 06/15/11 Auto/Transportation/Defence
Great Atlantic & Pacific Tea Co., US$ 165.0 Conv./Exch.
Inc.(The) Bond/Debenture Caa1 SGL-2 06/15/11 Retail/Apparel
PSEG Energy Holdings L.L.C. US$ 127.16 Regular Bond/Debenture Ba3 06/15/11 Utilities
US$ 138.283 Regular
Rafaella Apparel Group, Inc. Bond/Debenture Ca 06/15/11 Retail/Apparel
SPX Corporation US$ 21.30 Regular Bond/Debenture Ba2 SGL-1 06/15/11 Auto/Transportation/Defence
Viskase Companies, Inc. US$ 82.18 Regular Bond/Debenture Caa1 SGL-4 06/15/11 Diversified Industrials/Services/Paper
Williams Partners LP US$ 150.0 Regular Bond/Debenture Ba2 SGL-3 06/15/11 Energy/Natural Resources/Chemicals
Mohegan Tribal Gaming Authority US$ 2.045 Regular Bond/Debenture Caa2 07/01/11 Food/Entertainment/Lodging
Radio One, Inc. US$ 101.51 Regular Bond/Debenture Caa3 07/01/11 Telecom/Tech./Media
El Paso Performance-Linked Trust US$ 500.0 Regular Bond/Debenture Ba3 07/15/11 Energy/Natural Resources/Chemicals
US$ 347.68 Regular
Sonat Inc. Bond/Debenture Ba3 07/15/11 Energy/Natural Resources/Chemicals
Swift Energy Company US$ 150.0 Regular Bond/Debenture B3 07/15/11 Energy/Natural Resources/Chemicals
Univision Communications Inc (Old) US$ 7.4 Regular Bond/Debenture B2 07/15/11 Telecom/Tech./Media
Vought Aircraft Industries, Inc. US$ 270.0 Regular Bond/Debenture B3 07/15/11 Auto/Transportation/Defence
Dillard's, Inc. US$ 50.75 Regular Bond/Debenture B3 08/01/11 Retail/Apparel
US$ 51.709 Regular
Duane Reade, Inc. Bond/Debenture Caa3 08/01/11 Retail/Apparel
National Beef Packing Company LLC US$ 160.0 Regular Bond/Debenture Caa1 08/01/11 Food/Entertainment/Lodging
Building
Pulte Homes, Inc. US$ 132.19 Regular Bond/Debenture B1 SGL-2 08/01/11 Products/Manufacturing/Homebuilding
Sabre Holding Corporation (Old) US$ 324.0 Regular Bond/Debenture Caa1 08/01/11 Telecom/Tech./Media
Smithfield Foods, Inc. US$ 600.0 Regular Bond/Debenture Caa1 SGL-3 08/01/11 Food/Entertainment/Lodging
Toys 'R' US, Inc. (Old) US$ 500.0 Regular Bond/Debenture Caa1 08/01/11 Retail/Apparel
OfficeMax, Incorporated US$ 0.40 Regular Bond/Debenture B2 SGL-2 08/10/11 Retail/Apparel
US$ 27.542 Enhanced Equipment
Continental Airlines, Inc. Trust Ba1 SGL-3 08/15/11 Auto/Transportation/Defence
US$ 163.60 Regular Building
D.R. Horton, Inc. Bond/Debenture Ba3 SGL-2 08/15/11 Products/Manufacturing/Homebuilding
Goodyear Tire & Rubber Company
(The) US$ 650.0 Regular Bond/Debenture B2 SGL-3 08/15/11 Auto/Transportation/Defence
Haights Cross Comm. Operating US$ 138.80 Regular
Company Bond/Debenture Ca 08/15/11 Telecom/Tech./Media
Haights Cross Communications, Inc. US$ 135.0 Regular Bond/Debenture C 08/15/11 Telecom/Tech./Media

66 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
Interpublic Group of Companies, Inc.
(The) US$ 36.26 Regular Bond/Debenture Ba3 SGL-1 08/15/11 Telecom/Tech./Media
Building
KB HOME US$ 100 Regular Bond/Debenture B1 SGL-2 08/15/11 Products/Manufacturing/Homebuilding
Landry's Restaurants, Inc. US$ 287.5 Regular Bond/Debenture B3 SGL-3 08/15/11 Food/Entertainment/Lodging
Rock-Tenn Company US$ 156.7 Regular Bond/Debenture Ba3 SGL-2 08/15/11 Diversified Industrials/Services/Paper
US$ 134.97 Regular
Sears Roebuck Acceptance Corp. Bond/Debenture Ba3 08/15/11 Retail/Apparel
Sheridan Group, Inc. (The) US$ 165.0 Regular Bond/Debenture B2 08/15/11 Telecom/Tech./Media
Steelcase Inc. US$ 250.0 Regular Bond/Debenture Ba1 SGL-3 08/15/11 Consumer Products
Mashantucket (Western) Pequot US$ 1.04114 Regular
Tribe, CT Bond/Debenture Caa3 09/01/11 Food/Entertainment/Lodging
US$ 824.67 Regular
Qwest Corporation Bond/Debenture Ba1 09/01/11 Telecom/Tech./Media
Securus Technologies, Inc. US$ 40.0 Regular Bond/Debenture Caa2 SGL-4 09/01/11 Telecom/Tech./Media
Securus Technologies, Inc. US$ 154.0 Regular Bond/Debenture Caa2 SGL-4 09/01/11 Telecom/Tech./Media
US$ 99.866 Enhanced Equipment
United Air Lines, Inc. Trust Ba3 SGL-3 09/01/11 Auto/Transportation/Defence
Universal Corporation US$ 95.0 Regular Bond/Debenture Ba2 09/01/11 Consumer Products
American Airlines, Inc. US$ 3.465 Equipment Trust Caa1 09/04/11 Auto/Transportation/Defence
American Airlines, Inc. US$ 3.465 Equipment Trust Caa1 09/04/11 Auto/Transportation/Defence
American Airlines, Inc. US$ 4.178 Equipment Trust Caa1 09/04/11 Auto/Transportation/Defence
American Airlines, Inc. US$ 12.05796 Equipment Trust Caa1 09/11/11 Auto/Transportation/Defence
US$ 300.0 Conv./Exch.
Alliant Techsystems Inc. Bond/Debenture B1 09/15/11 Auto/Transportation/Defence
American Airlines, Inc. US$ 3.789 Equipment Trust Caa1 09/15/11 Auto/Transportation/Defence
American Airlines, Inc. US$ 3.789 Equipment Trust Caa1 09/15/11 Auto/Transportation/Defence
American Airlines, Inc. US$ 3.789 Equipment Trust Caa1 09/15/11 Auto/Transportation/Defence
US$ 166.88 Regular
Ford Motor Company Bond/Debenture Caa1 SGL-3 09/15/11 Auto/Transportation/Defence
May Department Stores Company
(The) US$ 150.0 Regular Bond/Debenture Ba2 09/15/11 Retail/Apparel
US$ 828.761 Enhanced Equipment
American Airlines, Inc. Trust Ba1 10/01/11 Auto/Transportation/Defence
B&G Foods, Inc. US$ 240.0 Regular Bond/Debenture B2 10/01/11 Food/Entertainment/Lodging
US$ 1000.0 Regular
Dish DBS Corporation Bond/Debenture Ba3 10/01/11 Telecom/Tech./Media
Frontier Oil Corporation US$ 150.0 Regular Bond/Debenture Ba3 10/01/11 Energy/Natural Resources/Chemicals
Loehmann's Capital Corporation US$ 35.0 Regular Bond/Debenture Ca SGL-4 10/01/11 Retail/Apparel
Loehmann's Capital Corporation US$ 55.0 Regular Bond/Debenture Caa2 SGL-4 10/01/11 Retail/Apparel
Loehmann's Capital Corporation US$ 20.0 Regular Bond/Debenture Caa2 SGL-4 10/01/11 Retail/Apparel
US$ 141.557 Regular
Saks Incorporated Bond/Debenture Caa1 10/01/11 Retail/Apparel
Tyson Foods, Inc. US$ 839.0 Regular Bond/Debenture B2 SGL-3 10/01/11 Food/Entertainment/Lodging
Level 3 Financing, Inc. US$ 2.94 Regular Bond/Debenture Caa1 10/15/11 Telecom/Tech./Media
Majestic HoldCo, LLC US$ 63.5 Regular Bond/Debenture C SGL-4 10/15/11 Food/Entertainment/Lodging

67 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
Building
Lennar Corporation US$ 250.0 Regular Bond/Debenture B3 SGL-2 10/17/11 Products/Manufacturing/Homebuilding
AMR Corporation US$ 2.55 Regular Bond/Debenture Caa2 SGL-2 10/25/11 Auto/Transportation/Defence
ASG Consolidated LLC US$ 196.0 Regular Bond/Debenture B3 11/01/11 Food/Entertainment/Lodging
US$ 6.59974 Enhanced Equipment
Continental Airlines, Inc. Trust Ba2 SGL-3 11/01/11 Auto/Transportation/Defence
First Data Corporation (Old) US$ 32.56 Regular Bond/Debenture Caa2 11/01/11 Telecom/Tech./Media
Building
Norcraft Companies, L.P. US$ 148.0 Regular Bond/Debenture Ba3 11/01/11 Products/Manufacturing/Homebuilding
River Rock Entertainment Authority US$ 200.0 Regular Bond/Debenture B2 11/01/11 Food/Entertainment/Lodging
US$ 82.125 Regular
Southern States Cooperative Inc. Bond/Debenture B3 SGL-2 11/01/11 Retail/Apparel
IPALCO Enterprises, Inc. US$ 375.0 Regular Bond/Debenture Ba1 11/14/11 Utilities
AMR Corporation US$ 3.72 Regular Bond/Debenture Caa2 SGL-2 11/15/11 Auto/Transportation/Defence
Land O' Lakes, Inc. US$ 174.0 Regular Bond/Debenture Ba2 SGL-3 11/15/11 Food/Entertainment/Lodging
Nalco Company US$ 190.0 Regular Bond/Debenture Ba2 11/15/11 Energy/Natural Resources/Chemicals
Protection One Alarm Monitoring, US$ 115.345 Regular
Inc. Bond/Debenture B3 11/15/11 Diversified Industrials/Services/Paper
Trailer Bridge, Inc. US$ 84.0 Regular Bond/Debenture B3 SGL-3 11/15/11 Auto/Transportation/Defence
Wendy's International Inc. US$ 200.0 Regular Bond/Debenture Caa1 11/15/11 Food/Entertainment/Lodging
American Airlines, Inc. US$ 28.53961 Equipment Trust Caa1 11/26/11 Auto/Transportation/Defence
Building
Altra Industrial Motion, Inc. US$ 220.3 Regular Bond/Debenture B1 SGL-2 12/01/11 Products/Manufacturing/Homebuilding
Continental Airlines, Inc. US$ 200.0 Regular Bond/Debenture B3 SGL-3 12/01/11 Auto/Transportation/Defence
Georgia-Pacific LLC US$ 250.0 Regular Bond/Debenture B2 12/01/11 Diversified Industrials/Services/Paper
Goodyear Tire & Rubber Company
(The) US$ 325.0 Regular Bond/Debenture B1 SGL-3 12/01/11 Auto/Transportation/Defence
Nebraska Book Company, Inc. US$ 200.0 Regular Bond/Debenture B1 12/01/11 Retail/Apparel
US$ 105.536 Regular
Penn National Gaming, Inc. Bond/Debenture B1 12/01/11 Food/Entertainment/Lodging
Tenet Healthcare Corporation US$ 67.17 Regular Bond/Debenture Caa2 SGL-2 12/01/11 Healthcare/Healthcare Equipment
US$ 47.872 Regular Building
Toll Corporation Bond/Debenture Ba2 12/01/11 Products/Manufacturing/Homebuilding
Cott Beverages, Inc. US$ 269.0 Regular Bond/Debenture Caa1 12/15/11 Food/Entertainment/Lodging
Forest Oil Corp. US$ 125.0 Regular Bond/Debenture B1 SGL-3 12/15/11 Energy/Natural Resources/Chemicals
Forest Oil Corp. US$ 160.0 Regular Bond/Debenture B1 SGL-3 12/15/11 Energy/Natural Resources/Chemicals
Great Atlantic & Pacific Tea Co.,
Inc.(The) US$ 26.84 Regular Bond/Debenture Caa1 SGL-2 12/15/11 Retail/Apparel
InterDent Service Corporation US$ 80.0 Regular Bond/Debenture Caa2 12/15/11 Healthcare/Healthcare Equipment
US$ 254.71 Conv./Exch.
Level 3 Communications, Inc. Bond/Debenture Caa3 SGL-1 12/15/11 Telecom/Tech./Media
US$ 128.66 Regular
Mandalay Resort Group Bond/Debenture Caa2 12/15/11 Food/Entertainment/Lodging
Olin Corporation US$ 75.02 Regular Bond/Debenture Ba1 12/15/11 Energy/Natural Resources/Chemicals
Stone Energy Corporation US$ 200.0 Regular Bond/Debenture Caa1 SGL-3 12/15/11 Energy/Natural Resources/Chemicals
Venoco, Inc. US$ 150.0 Regular Bond/Debenture Caa1 SGL-3 12/15/11 Energy/Natural Resources/Chemicals

68 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
Building
Ames True Temper, Inc. US$ 150.0 Regular Bond/Debenture Caa1 SGL-3 01/15/12 Products/Manufacturing/Homebuilding
Black Gaming, LLC US$ 125.0 Regular Bond/Debenture Caa3 SGL-4 01/15/12 Food/Entertainment/Lodging
US$ 109.66 Regular Building
Centex Corporation Bond/Debenture B1 01/15/12 Products/Manufacturing/Homebuilding
Constellation Brands, Inc. US$ 250.0 Regular Bond/Debenture B2 SGL-2 01/15/12 Food/Entertainment/Lodging
Douglas Dynamics, L.L.C. US$ 150.0 Regular Bond/Debenture B3 01/15/12 Auto/Transportation/Defence
US$ 193.80 Regular
Titan International, Inc. Bond/Debenture Caa1 SGL-2 01/15/12 Auto/Transportation/Defence
AMR Corporation US$ 7.70 Regular Bond/Debenture Caa2 SGL-2 01/30/12 Auto/Transportation/Defence
CMS Energy Corporation US$ 150.0 Regular Bond/Debenture Ba1 02/01/12 Utilities
Communications & Power
Industries, Inc. US$ 117.0 Regular Bond/Debenture B3 02/01/12 Auto/Transportation/Defence
Affinity Group Holding, Inc. US$ 111.90 Regular Bond/Debenture Ca SGL-4 02/15/12 Telecom/Tech./Media
Affinity Group Inc. US$ 137.8 Regular Bond/Debenture Caa2 02/15/12 Telecom/Tech./Media
US$ 195.02 Regular
BMS Holdings, Inc. Bond/Debenture Caa2 02/15/12 Telecom/Tech./Media
Building
Builders FirstSource, Inc. US$ 275.0 Regular Bond/Debenture Caa3 SGL-4 02/15/12 Products/Manufacturing/Homebuilding
US$ 194.522 Enhanced Equipment
Continental Airlines, Inc. Trust Ba1 SGL-3 02/15/12 Auto/Transportation/Defence
Dynegy Holdings Inc. US$ 500.0 Regular Bond/Debenture B3 SGL-3 02/15/12 Utilities
Equinox Holdings, Inc. US$ 290.0 Regular Bond/Debenture B2 02/15/12 Diversified Industrials/Services/Paper
Building
Ply Gem Industries, Inc. US$ 360.0 Regular Bond/Debenture Ca 02/15/12 Products/Manufacturing/Homebuilding
United Rentals (North America), Inc. US$ 594.0 Regular Bond/Debenture B3 SGL-3 02/15/12 Auto/Transportation/Defence
AMR Corporation US$ 1.09 Regular Bond/Debenture Caa2 SGL-2 02/21/12 Auto/Transportation/Defence
ArvinMeritor, Inc. US$ 276.0 Regular Bond/Debenture Caa2 SGL-4 03/01/12 Auto/Transportation/Defence
Beverages & More, Inc. US$ 100.0 Regular Bond/Debenture Caa2 03/01/12 Retail/Apparel
Circus and Eldorado Joint Venture US$ 160.0 Regular Bond/Debenture Caa2 SGL-3 03/01/12 Food/Entertainment/Lodging
Comstock Resources, Inc. US$ 175.0 Regular Bond/Debenture B2 03/01/12 Energy/Natural Resources/Chemicals
CONSOL Energy Inc. US$ 250.0 Regular Bond/Debenture Ba1 03/01/12 Energy/Natural Resources/Chemicals
Harry & David US$ 58.17 Regular Bond/Debenture Ca 03/01/12 Retail/Apparel
Jo-Ann Stores, Inc. US$ 50.5 Regular Bond/Debenture B2 03/01/12 Retail/Apparel
US$ 40.766 Conv./Exch.
Maxtor Corporation Bond/Debenture B1 03/01/12 Telecom/Tech./Media
American Airlines, Inc. US$ 4.048 Equipment Trust Caa1 03/04/12 Auto/Transportation/Defence
American Airlines, Inc. US$ 4.048 Equipment Trust Caa1 03/04/12 Auto/Transportation/Defence
American Airlines, Inc. US$ 4.073 Equipment Trust Caa1 03/04/12 Auto/Transportation/Defence
American Airlines, Inc. US$ 4.093 Equipment Trust Caa1 03/04/12 Auto/Transportation/Defence
American Airlines, Inc. US$ 4.093 Equipment Trust Caa1 03/04/12 Auto/Transportation/Defence
American Airlines, Inc. US$ 2.417 Equipment Trust Caa2 03/04/12 Auto/Transportation/Defence
American Airlines, Inc. US$ 2.793 Equipment Trust Caa2 03/04/12 Auto/Transportation/Defence
American Airlines, Inc. US$ 2.807 Equipment Trust Caa2 03/04/12 Auto/Transportation/Defence

69 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
American Airlines, Inc. US$ 2.377 Equipment Trust Caa1 03/15/12 Auto/Transportation/Defence
American Airlines, Inc. US$ 2.377 Equipment Trust Caa1 03/15/12 Auto/Transportation/Defence
American Airlines, Inc. US$ 2.377 Equipment Trust Caa1 03/15/12 Auto/Transportation/Defence
American Airlines, Inc. US$ 4.457 Equipment Trust Caa1 03/15/12 Auto/Transportation/Defence
American Airlines, Inc. US$ 4.457 Equipment Trust Caa1 03/15/12 Auto/Transportation/Defence
American Airlines, Inc. US$ 4.457 Equipment Trust Caa1 03/15/12 Auto/Transportation/Defence
American Airlines, Inc. US$ 2.026 Equipment Trust Caa2 03/15/12 Auto/Transportation/Defence
US$ 45.5 Conv./Exch.
CenterPoint Energy Resources Corp. Bond/Debenture Ba1 03/15/12 Utilities
Clear Channel Communications, Inc. US$ 249.85 Regular
(Old) Bond/Debenture Ca 03/15/12 Telecom/Tech./Media
Evergreen Resources, Inc. US$ 6.11 Regular Bond/Debenture Ba1 03/15/12 Energy/Natural Resources/Chemicals
US$ 152.75 Regular
Global Cash Access, Inc. Bond/Debenture B3 03/15/12 Telecom/Tech./Media
US$ 1100.0 Regular
Macy's Retail Holding, Inc. Bond/Debenture Ba2 03/15/12 Retail/Apparel
Nebraska Book Company, Inc. US$ 175.0 Regular Bond/Debenture Caa1 03/15/12 Retail/Apparel
Pinnacle Entertainment, Inc. US$ 199.5 Regular Bond/Debenture Caa1 03/15/12 Food/Entertainment/Lodging
US$ 1500.0 Regular
Qwest Corporation Bond/Debenture Ba1 03/15/12 Telecom/Tech./Media
Sinclair Television Group, Inc US$ 235.6 Regular Bond/Debenture Caa1 03/15/12 Telecom/Tech./Media
US$ 2000.0 Regular
Sprint Capital Corporation Bond/Debenture Ba2 03/15/12 Telecom/Tech./Media
US$ 498.84 Regular
US Oncology Holdings, Inc. Bond/Debenture Caa1 03/15/12 Healthcare/Healthcare Equipment
US$ 1433.12 Regular
Weyerhaeuser Company Bond/Debenture Ba1 SGL-1 03/15/12 Diversified Industrials/Services/Paper
155 East Tropicana, LLC US$ 130.0 Regular Bond/Debenture C SGL-4 04/01/12 Food/Entertainment/Lodging
American Achievement Corporation US$ 0.13 Regular Bond/Debenture B2 04/01/12 Consumer Products
US$ 149.87 Regular
American Achievement Corporation Bond/Debenture B2 04/01/12 Consumer Products
American Tire Distributors, Inc. US$ 140.0 Regular Bond/Debenture Caa1 SGL-3 04/01/12 Auto/Transportation/Defence
Ameriqual Group, LLC US$ 105.0 Regular Bond/Debenture Caa1 SGL-3 04/01/12 Auto/Transportation/Defence
US$ 306.57 Regular
Gannett Co., Inc. Bond/Debenture Ba2 SGL-3 04/01/12 Telecom/Tech./Media
Building
K. Hovnanian Enterprises, Inc. US$ 69.0 Regular Bond/Debenture Caa3 04/01/12 Products/Manufacturing/Homebuilding
Building
K. Hovnanian Enterprises, Inc. US$ 35.55 Regular Bond/Debenture Caa2 04/01/12 Products/Manufacturing/Homebuilding
US$ 272.38 Regular
KCS Energy, Inc. Bond/Debenture B3 04/01/12 Energy/Natural Resources/Chemicals
Building
M/I Homes, Inc. US$ 200.0 Regular Bond/Debenture Caa1 SGL-3 04/01/12 Products/Manufacturing/Homebuilding
US$ 318.80 Regular
MeadWestvaco Corporation Bond/Debenture Ba1 SGL-1 04/01/12 Diversified Industrials/Services/Paper
Mohegan Tribal Gaming Authority US$ 250.0 Regular Bond/Debenture Caa2 04/01/12 Food/Entertainment/Lodging
Rotech Healthcare, Inc. US$ 287.0 Regular Bond/Debenture Caa3 04/01/12 Healthcare/Healthcare Equipment

70 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
SMART Modular Technologies
(WWH), Inc US$ 55.05 Regular Bond/Debenture B1 04/01/12 Telecom/Tech./Media
Alaska Airlines Inc. US$ 8.278 Equipment Trust B1 04/12/12 Auto/Transportation/Defence
US$ 303.60 Regular Building
Beazer Homes USA, Inc. Bond/Debenture Caa2 SGL-3 04/15/12 Products/Manufacturing/Homebuilding
US$ 1000.0 Regular
Cablevision Systems Corporation Bond/Debenture B1 SGL-2 04/15/12 Telecom/Tech./Media
US$ 244.22 Regular
CSC Holdings, Inc. Bond/Debenture Ba3 04/15/12 Telecom/Tech./Media
Innophos Holdings, Inc. US$ 56.0 Regular Bond/Debenture B2 SGL-2 04/15/12 Energy/Natural Resources/Chemicals
Building
Mohawk Industries, Inc. US$ 400.0 Regular Bond/Debenture Ba2 SGL-2 04/15/12 Products/Manufacturing/Homebuilding
Prestige Brands, Inc. US$ 126.0 Regular Bond/Debenture B3 SGL-3 04/15/12 Consumer Products
Sears Roebuck Acceptance Corp. US$ 71.19 Regular Bond/Debenture Ba3 04/15/12 Retail/Apparel
Building
Standard Pacific Corp. US$ 70.5 Regular Bond/Debenture Caa3 SGL-3 04/15/12 Products/Manufacturing/Homebuilding
Charter Communications Operating, US$ 1100.0 Regular
LLC Bond/Debenture B1 04/30/12 Telecom/Tech./Media
Brown Shoe Company, Inc. US$ 150.0 Regular Bond/Debenture B3 SGL-3 05/01/12 Retail/Apparel
US$ 402.50 Regular
HCA, Inc. (Oldco) Bond/Debenture Caa1 05/01/12 Healthcare/Healthcare Equipment
INVISTA S.A.R.L. US$ 675.0 Regular Bond/Debenture Ba3 05/01/12 Energy/Natural Resources/Chemicals
US$ 222.763 Regular
NewPage Corporation Bond/Debenture Caa2 SGL-3 05/01/12 Diversified Industrials/Services/Paper
US$ 783.035 Regular
NewPage Corporation Bond/Debenture Caa2 SGL-3 05/01/12 Diversified Industrials/Services/Paper
PolyOne Corporation US$ 280.0 Regular Bond/Debenture B1 05/01/12 Energy/Natural Resources/Chemicals
Seneca Gaming Corporation US$ 200.0 Regular Bond/Debenture Ba2 SGL-3 05/01/12 Food/Entertainment/Lodging
Seneca Gaming Corporation US$ 300.0 Regular Bond/Debenture Ba2 SGL-3 05/01/12 Food/Entertainment/Lodging
Starwood Hotels & Resorts
Worldwide Inc. US$ 800.0 Regular Bond/Debenture Ba1 SGL-3 05/01/12 Food/Entertainment/Lodging
Stoneridge, Inc. US$ 183.0 Regular Bond/Debenture B3 SGL-2 05/01/12 Telecom/Tech./Media
US$ 258.09 Regular
Temple-Inland Inc. Bond/Debenture Ba1 05/01/12 Diversified Industrials/Services/Paper
Whiting Petroleum Corporation US$ 150.0 Regular Bond/Debenture B1 SGL-2 05/01/12 Energy/Natural Resources/Chemicals
US$ 230.0 Conv./Exch.
Wyndham Worldwide Corporation Bond/Debenture Ba2 05/01/12 Food/Entertainment/Lodging
Alliance One International, Inc. US$ 29.55 Regular Bond/Debenture B2 SGL-3 05/15/12 Consumer Products
El Paso Corporation US$ 49.11 Regular Bond/Debenture Ba3 SGL-3 05/15/12 Energy/Natural Resources/Chemicals
Gundle/SLT Environmental Inc. US$ 150.0 Regular Bond/Debenture B3 SGL-3 05/15/12 Diversified Industrials/Services/Paper
Building
JohnsonDiversey, Inc. US$ 300.0 Regular Bond/Debenture B2 SGL-2 05/15/12 Products/Manufacturing/Homebuilding
PetroQuest Energy, Inc US$ 150.0 Regular Bond/Debenture Caa1 SGL-3 05/15/12 Energy/Natural Resources/Chemicals
Polypore, Inc. US$ 225.0 Regular Bond/Debenture B3 05/15/12 Auto/Transportation/Defence
US$ 207.07 Regular Building
Ryland Group, Inc. (The) Bond/Debenture Ba3 SGL-2 05/15/12 Products/Manufacturing/Homebuilding
SUPERVALU INC. US$ 300.0 Regular Bond/Debenture Ba3 05/15/12 Retail/Apparel

71 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
Wise Metals Group LLC US$ 150.0 Regular Bond/Debenture Ca SGL-4 05/15/12 Energy/Natural Resources/Chemicals
ARAMARK Services, Inc. US$ 250.0 Regular Bond/Debenture B3 06/01/12 Diversified Industrials/Services/Paper
Dune Energy, Inc. US$ 300.0 Regular Bond/Debenture Caa2 SGL-4 06/01/12 Energy/Natural Resources/Chemicals
US$ 176.08 Regular
Hertz Corporation (The) (Old) Bond/Debenture B3 06/01/12 Auto/Transportation/Defence
James River Coal Company US$ 150.0 Regular Bond/Debenture Ca SGL-4 06/01/12 Energy/Natural Resources/Chemicals
MTR Gaming Group, Inc. US$ 125.0 Regular Bond/Debenture Caa2 06/01/12 Food/Entertainment/Lodging
Tenet Healthcare Corporation US$ 58.05 Regular Bond/Debenture Caa2 SGL-2 06/01/12 Healthcare/Healthcare Equipment
Willamette Industries, Inc. US$ 3.5 Regular Bond/Debenture Ba1 06/05/12 Diversified Industrials/Services/Paper
AK Steel Corporation US$ 504.0 Regular Bond/Debenture Ba3 SGL-1 06/15/12 Energy/Natural Resources/Chemicals
American Airlines, Inc. US$ 2.433 Equipment Trust Caa2 06/15/12 Auto/Transportation/Defence
American Airlines, Inc. US$ 2.622 Equipment Trust Caa2 06/15/12 Auto/Transportation/Defence
US$ 277.80 Regular Building
D.R. Horton, Inc. Bond/Debenture Ba3 SGL-2 06/15/12 Products/Manufacturing/Homebuilding
El Paso Corporation US$ 229.0 Regular Bond/Debenture Ba3 SGL-3 06/15/12 Energy/Natural Resources/Chemicals
Ferrellgas Partners L.P. US$ 268.0 Regular Bond/Debenture B2 06/15/12 Energy/Natural Resources/Chemicals
US$ 301.98 Conv./Exch.
Level 3 Communications, Inc. Bond/Debenture Caa3 SGL-1 06/15/12 Telecom/Tech./Media
NV Energy Inc. US$ 63.67 Regular Bond/Debenture Ba3 SGL-3 06/15/12 Utilities
OfficeMax, Incorporated US$ 35.0 Regular Bond/Debenture B2 SGL-2 06/15/12 Retail/Apparel
Stater Bros. Holdings, Inc. US$ 525.0 Regular Bond/Debenture B2 06/15/12 Retail/Apparel
US$ 256.14 Regular
TriMas Corporation Bond/Debenture Caa2 SGL-4 06/15/12 Auto/Transportation/Defence
Willamette Industries, Inc. US$ 3.0 Regular Bond/Debenture Ba1 06/18/12 Diversified Industrials/Services/Paper
US$ 287.5 Conv./Exch.
Iconix Brand Group, Inc. Bond/Debenture B2 SGL-2 06/30/12 Retail/Apparel
Mirant Mid-Atlantic, LLC US$ 157.74453 Pass-Through Ba1 06/30/12 Utilities
CPG International I Inc. US$ 95.0 Regular Bond/Debenture Caa1 SGL-2 07/01/12 Diversified Industrials/Services/Paper
Geoeye Inc. US$ 0.5 Regular Bond/Debenture B1 SGL-1 07/01/12 Telecom/Tech./Media
Metals USA Holdings Corp. US$ 92.96 Regular Bond/Debenture Caa2 SGL-3 07/01/12 Energy/Natural Resources/Chemicals
American Airlines, Inc. US$ 3.396 Equipment Trust Caa1 07/02/12 Auto/Transportation/Defence
American Airlines, Inc. US$ 3.396 Equipment Trust Caa1 07/02/12 Auto/Transportation/Defence
American Airlines, Inc. US$ 3.396 Equipment Trust Caa1 07/02/12 Auto/Transportation/Defence
US$ 370.286 Enhanced Equipment
Delta Air Lines, Inc. (Old) Trust Ba2 07/02/12 Auto/Transportation/Defence
Willamette Industries, Inc. US$ 7.5 Regular Bond/Debenture Ba1 07/09/12 Diversified Industrials/Services/Paper
Building
Ames True Temper, Inc. US$ 150.0 Regular Bond/Debenture Caa3 SGL-3 07/15/12 Products/Manufacturing/Homebuilding
US$ 149.945 Conv./Exch.
FTI Consulting, Inc. Bond/Debenture B1 SGL-2 07/15/12 Diversified Industrials/Services/Paper
Building
Masco Corporation US$ 850.0 Regular Bond/Debenture Ba2 SGL-2 07/15/12 Products/Manufacturing/Homebuilding
May Department Stores Company
(The) US$ 200.0 Regular Bond/Debenture Ba2 07/15/12 Retail/Apparel
Telcordia Technologies Inc. US$ 555.0 Regular Bond/Debenture B2 07/15/12 Telecom/Tech./Media

72 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
United Air Lines, Inc. US$ 175.0 Regular Bond/Debenture B2 SGL-3 07/15/12 Auto/Transportation/Defence
New Albertson's, Inc. US$ 1.0 Regular Bond/Debenture Ba3 07/30/12 Retail/Apparel
New Albertson's, Inc. US$ 5.5 Regular Bond/Debenture Ba3 07/30/12 Retail/Apparel
AMR Corporation US$ 75.50 Regular Bond/Debenture Caa2 SGL-2 08/01/12 Auto/Transportation/Defence
Building
Blount, Inc US$ 175.0 Regular Bond/Debenture B2 08/01/12 Products/Manufacturing/Homebuilding
US$ 230.203 Regular
Penney (J.C.) Corporation, Inc. Bond/Debenture Ba1 SGL-1 08/01/12 Retail/Apparel
US$ 126.70 Regular Building
Centex Corporation Bond/Debenture B1 08/15/12 Products/Manufacturing/Homebuilding
US$ 330.0 Conv./Exch.
Horizon Lines, Inc. Bond/Debenture Caa2 08/15/12 Auto/Transportation/Defence
United Refining Company US$ 350.0 Regular Bond/Debenture B3 08/15/12 Energy/Natural Resources/Chemicals
Blockbuster Inc. US$ 300.0 Regular Bond/Debenture Caa3 SGL-3 09/01/12 Retail/Apparel
Broadview Networks Holdings, Inc. US$ 300.0 Regular Bond/Debenture B3 09/01/12 Telecom/Tech./Media
US$ 835.659 Regular
Knight Inc. Bond/Debenture Ba1 09/01/12 Energy/Natural Resources/Chemicals
Mashantucket (Western) Pequot US$ 0.97554 Regular
Tribe, CT Bond/Debenture Caa3 09/01/12 Food/Entertainment/Lodging
Mashantucket (Western) Pequot
Tribe, CT US$ 20.7 Regular Bond/Debenture Caa3 09/01/12 Food/Entertainment/Lodging
US$ 542.77 Regular
MGM MIRAGE Bond/Debenture Caa2 SGL-4 09/01/12 Food/Entertainment/Lodging
Building
Norcraft Holdings, L.P. US$ 118.0 Regular Bond/Debenture Caa1 09/01/12 Products/Manufacturing/Homebuilding
Rainbow National Services LLC US$ 300.0 Regular Bond/Debenture Ba3 SGL-1 09/01/12 Telecom/Tech./Media
New York Times Company (The) US$ 75.0 Regular Bond/Debenture B1 SGL-3 09/26/12 Telecom/Tech./Media
Universal Corporation US$ 10.0 Regular Bond/Debenture Ba2 09/26/12 Consumer Products
American Airlines, Inc. US$ 19.6745 Equipment Trust B1 09/29/12 Auto/Transportation/Defence
AAC Group Holding Corp. US$ 2.08 Regular Bond/Debenture Caa2 10/01/12 Consumer Products
American Achievement Group
Holding Corp. US$ 0.62 Regular Bond/Debenture Caa3 10/01/12 Consumer Products
US$ 224.98 Regular Building
Coleman Cable, Inc. Bond/Debenture B3 SGL-2 10/01/12 Products/Manufacturing/Homebuilding
Denny's Holdings, Inc. US$ 175.0 Regular Bond/Debenture Caa1 SGL-3 10/01/12 Food/Entertainment/Lodging
Dillard's, Inc. US$ 55.37 Regular Bond/Debenture B3 10/01/12 Retail/Apparel
Easton-Bell Sports, Inc. US$ 140.0 Regular Bond/Debenture Caa1 SGL-4 10/01/12 Diversified Industrials/Services/Paper
US$ 499.24 Regular
GameStop Corp. Bond/Debenture Ba1 SGL-1 10/01/12 Retail/Apparel
HCA, Inc. (Oldco) US$ 500.0 Regular Bond/Debenture Caa1 10/01/12 Healthcare/Healthcare Equipment
US$ 181.60 Regular
SEACOR Holdings Inc. Bond/Debenture Ba1 10/01/12 Energy/Natural Resources/Chemicals
US$ 45.613 Conv./Exch. Building
Standard Pacific Corp. Bond/Debenture Caa3 SGL-3 10/01/12 Products/Manufacturing/Homebuilding
Visant Corporation US$ 500.0 Regular Bond/Debenture B1 10/01/12 Telecom/Tech./Media
American Airlines, Inc. US$ 450.0 Regular Bond/Debenture B2 10/15/12 Auto/Transportation/Defence

73 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
US$ 183.05 Regular
Brookstone Company, Inc. Bond/Debenture Caa3 SGL-4 10/15/12 Retail/Apparel
US$ 475.0 Conv./Exch. Building
General Cable Corporation Bond/Debenture B1 SGL-1 10/15/12 Products/Manufacturing/Homebuilding
Graham Packaging Company, L.P. US$ 245.0 Regular Bond/Debenture Caa1 SGL-2 10/15/12 Diversified Industrials/Services/Paper
US$ 150.42 Regular
Reddy Ice Holdings, Inc. Bond/Debenture Caa1 SGL-3 10/15/12 Food/Entertainment/Lodging
Unisys Corporation US$ 68.04 Regular Bond/Debenture Caa1 SGL-2 10/15/12 Telecom/Tech./Media
Advanced Micro Devices, Inc. US$ 390.0 Regular Bond/Debenture Caa1 11/01/12 Telecom/Tech./Media
Indianapolis Downs, LLC US$ 375.0 Regular Bond/Debenture Caa2 11/01/12 Food/Entertainment/Lodging
Steel Dynamics, Inc. US$ 700.0 Regular Bond/Debenture Ba2 11/01/12 Energy/Natural Resources/Chemicals
Tesoro Corporation US$ 450.0 Regular Bond/Debenture Ba1 11/01/12 Energy/Natural Resources/Chemicals
Ashland Inc. US$ 20.13 Regular Bond/Debenture Ba3 11/15/12 Energy/Natural Resources/Chemicals
Chukchansi Economic Development
Authority US$ 110.0 Regular Bond/Debenture B3 11/15/12 Food/Entertainment/Lodging
El Paso Tennessee Pipeline Co. US$ 1.15 Regular Bond/Debenture Ba3 11/15/12 Energy/Natural Resources/Chemicals
US$ 125.953 Conv./Exch.
Pantry Inc., The Bond/Debenture Caa1 11/15/12 Retail/Apparel
US$ 194.87 Regular Building
Toll Brothers Finance Corp. Bond/Debenture Ba1 11/15/12 Products/Manufacturing/Homebuilding
Vitamin Shoppe Industries, Inc. US$ 165.0 Regular Bond/Debenture B2 11/15/12 Retail/Apparel
El Pollo Loco, Inc. US$ 132.5 Regular Bond/Debenture B2 SGL-3 12/01/12 Food/Entertainment/Lodging
US$ 191.46 Regular
Limited Brands, Inc. Bond/Debenture Ba3 12/01/12 Retail/Apparel
Building
ACIH, Inc. US$ 4.57 Regular Bond/Debenture C SGL-4 12/15/12 Products/Manufacturing/Homebuilding
Allbritton Communications US$ 454.15 Regular
Company Bond/Debenture Caa1 12/15/12 Telecom/Tech./Media
Alliance Healthcare Services, Inc. US$ 150.0 Regular Bond/Debenture B3 12/15/12 Healthcare/Healthcare Equipment
Alliance Healthcare Services, Inc. US$ 150.0 Regular Bond/Debenture B3 12/15/12 Healthcare/Healthcare Equipment
Building
Atrium Companies, Inc. US$ 42.3 Regular Bond/Debenture C 12/15/12 Products/Manufacturing/Homebuilding
US$ 205.01809 Regular Building
Atrium Companies, Inc. Bond/Debenture C 12/15/12 Products/Manufacturing/Homebuilding
Ball Corporation US$ 509.0 Regular Bond/Debenture Ba1 12/15/12 Diversified Industrials/Services/Paper
US$ 158.832 Regular
Boyd Gaming Corporation Bond/Debenture B3 SGL-3 12/15/12 Food/Entertainment/Lodging
Church & Dwight Company, Inc. US$ 250.0 Regular Bond/Debenture Ba2 12/15/12 Consumer Products
Del Monte Corporation US$ 9.467 Regular Bond/Debenture B1 SGL-3 12/15/12 Food/Entertainment/Lodging
Deluxe Corporation US$ 280.3 Regular Bond/Debenture Ba2 12/15/12 Telecom/Tech./Media
US$ 131.48 Regular
El Paso Corporation Bond/Debenture Ba3 SGL-3 12/15/12 Energy/Natural Resources/Chemicals
Great Atlantic & Pacific Tea Co., US$ 255.0 Conv./Exch.
Inc.(The) Bond/Debenture Caa1 SGL-2 12/15/12 Retail/Apparel
Scientific Games Corporation US$ 200.0 Regular Bond/Debenture Ba3 12/15/12 Food/Entertainment/Lodging
Sears Roebuck Acceptance Corp. US$ 20.81 Regular Bond/Debenture Ba3 12/15/12 Retail/Apparel

74 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
Sears Roebuck Acceptance Corp. US$ 14.41 Regular Bond/Debenture Ba3 12/15/12 Retail/Apparel
Spheris Inc. US$ 125.0 Regular Bond/Debenture Caa1 12/15/12 Healthcare/Healthcare Equipment
Building
William Lyon Homes, Inc. US$ 98.82 Regular Bond/Debenture Caa3 12/15/12 Products/Manufacturing/Homebuilding
Centennial Communications Corp. US$ 200.0 Regular Bond/Debenture B1 01/01/13 Telecom/Tech./Media
Centennial Communications Corp. US$ 350.0 Regular Bond/Debenture B1 01/01/13 Telecom/Tech./Media
Lamar Media Corporation US$ 385.0 Regular Bond/Debenture B2 01/01/13 Telecom/Tech./Media
Real Mex Restaurants, Inc. US$ 130.0 Regular Bond/Debenture B3 SGL-3 01/01/13 Food/Entertainment/Lodging
SPX Corporation US$ 28.20 Regular Bond/Debenture Ba2 SGL-1 01/01/13 Auto/Transportation/Defence
American Airlines, Inc. US$ 108.61763 Equipment Trust Caa1 01/02/13 Auto/Transportation/Defence
American Airlines, Inc. US$ 3.931 Equipment Trust Caa1 01/02/13 Auto/Transportation/Defence
American Airlines, Inc. US$ 3.931 Equipment Trust Caa1 01/02/13 Auto/Transportation/Defence
American Airlines, Inc. US$ 3.931 Equipment Trust Caa1 01/02/13 Auto/Transportation/Defence
Building
Alliance Laundry Systems LLC US$ 150.0 Regular Bond/Debenture Caa1 01/15/13 Products/Manufacturing/Homebuilding
Black Gaming, LLC US$ 66.0 Regular Bond/Debenture C SGL-4 01/15/13 Food/Entertainment/Lodging
US$ 164.985 Regular
Carrols Corporation Bond/Debenture B3 SGL-3 01/15/13 Food/Entertainment/Lodging
Clear Channel Communications, Inc.
(Old) US$ 312.11 Regular Bond/Debenture Ca 01/15/13 Telecom/Tech./Media
CMS Energy Corporation US$ 150.0 Regular Bond/Debenture Ba1 01/15/13 Utilities
Frontier Communications US$ 616.59 Regular
Corporation Bond/Debenture Ba2 SGL-1 01/15/13 Telecom/Tech./Media
IAC/InterActiveCorp US$ 15.84 Regular Bond/Debenture Ba3 SGL-1 01/15/13 Telecom/Tech./Media
Macy's Retail Holding, Inc. US$ 350.0 Regular Bond/Debenture Ba2 01/15/13 Retail/Apparel
Sears Roebuck Acceptance Corp. US$ 5.77 Regular Bond/Debenture Ba3 01/15/13 Retail/Apparel
Sears Roebuck Acceptance Corp. US$ 9.07 Regular Bond/Debenture Ba3 01/15/13 Retail/Apparel
Sears Roebuck Acceptance Corp. US$ 19.29 Regular Bond/Debenture Ba3 01/15/13 Retail/Apparel
Casella Waste Systems, Inc. US$ 195.0 Regular Bond/Debenture Caa1 02/01/13 Diversified Industrials/Services/Paper
US$ 149.98 Regular
Central Garden & Pet Company Bond/Debenture Caa1 SGL-2 02/01/13 Consumer Products
HHGREGG, Inc. US$ 3.36 Regular Bond/Debenture B2 SGL-2 02/01/13 Retail/Apparel
Leslie's Poolmart, Inc. US$ 170.0 Regular Bond/Debenture B1 02/01/13 Retail/Apparel
Service Corporation International US$ 32.13 Regular Bond/Debenture B1 SGL-2 02/01/13 Diversified Industrials/Services/Paper
US$ 1000.0 Regular
Tenet Healthcare Corporation Bond/Debenture Caa2 SGL-2 02/01/13 Healthcare/Healthcare Equipment
US$ 417.04 Regular
DynCorp International LLC Bond/Debenture B1 SGL-2 02/15/13 Diversified Industrials/Services/Paper
HCA, Inc. (Oldco) US$ 500.0 Regular Bond/Debenture Caa1 02/15/13 Healthcare/Healthcare Equipment
Mohegan Tribal Gaming Authority US$ 250.0 Regular Bond/Debenture B2 02/15/13 Food/Entertainment/Lodging
Building
Pulte Homes, Inc. US$ 300.0 Regular Bond/Debenture B1 SGL-2 02/15/13 Products/Manufacturing/Homebuilding
Radio One, Inc. US$ 200.0 Regular Bond/Debenture Caa3 02/15/13 Telecom/Tech./Media
Starwood Hotels & Resorts
Worldwide Inc. US$ 600.0 Regular Bond/Debenture Ba1 SGL-3 02/15/13 Food/Entertainment/Lodging

75 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
Stewart Enterprises, Inc. US$ 200.0 Regular Bond/Debenture Ba3 02/15/13 Diversified Industrials/Services/Paper
New Albertson's, Inc. US$ 16.0 Regular Bond/Debenture Ba3 02/25/13 Retail/Apparel
New Albertson's, Inc. US$ 17.0 Regular Bond/Debenture Ba3 02/25/13 Retail/Apparel
US$ 140.19 Regular
Harry & David Bond/Debenture Ca 03/01/13 Retail/Apparel
Building
Lennar Corporation US$ 350.0 Regular Bond/Debenture B3 SGL-2 03/01/13 Products/Manufacturing/Homebuilding
Sanmina-SCI Corporation US$ 400.0 Regular Bond/Debenture B3 SGL-2 03/01/13 Telecom/Tech./Media
US$ 155.49 Regular
Weyerhaeuser Company Bond/Debenture Ba1 SGL-1 03/01/13 Diversified Industrials/Services/Paper
American Airlines, Inc. US$ 4.374 Equipment Trust Caa1 03/04/13 Auto/Transportation/Defence
American Airlines, Inc. US$ 1.394 Equipment Trust Caa1 03/04/13 Auto/Transportation/Defence
American Airlines, Inc. US$ 1.394 Equipment Trust Caa1 03/04/13 Auto/Transportation/Defence
American Airlines, Inc. US$ 2.429 Equipment Trust Caa1 03/04/13 Auto/Transportation/Defence
American Airlines, Inc. US$ 4.374 Equipment Trust Caa1 03/04/13 Auto/Transportation/Defence
American Airlines, Inc. US$ 0.571 Equipment Trust Caa2 03/04/13 Auto/Transportation/Defence
American Airlines, Inc. US$ 0.966 Equipment Trust Caa2 03/04/13 Auto/Transportation/Defence
American Airlines, Inc. US$ 1.473 Equipment Trust Caa2 03/04/13 Auto/Transportation/Defence
US$ 160.16 Regular
AEP Industries, Inc. Bond/Debenture B2 03/15/13 Diversified Industrials/Services/Paper
American Airlines, Inc. US$ 2.305 Equipment Trust Caa1 03/15/13 Auto/Transportation/Defence
American Airlines, Inc. US$ 2.305 Equipment Trust Caa1 03/15/13 Auto/Transportation/Defence
American Airlines, Inc. US$ 2.305 Equipment Trust Caa1 03/15/13 Auto/Transportation/Defence
DaVita, Inc. US$ 900.0 Regular Bond/Debenture B1 SGL-1 03/15/13 Healthcare/Healthcare Equipment
Exide Technologies, Inc. US$ 290.0 Regular Bond/Debenture B3 03/15/13 Auto/Transportation/Defence
Level 3 Financing, Inc. US$ 550.0 Regular Bond/Debenture Caa1 03/15/13 Telecom/Tech./Media
NBC Acquisition Corp. US$ 77.0 Regular Bond/Debenture Caa2 03/15/13 Retail/Apparel
Peabody Energy Corporation US$ 650.0 Regular Bond/Debenture Ba1 SGL-1 03/15/13 Energy/Natural Resources/Chemicals
Rock-Tenn Company US$ 100.0 Regular Bond/Debenture Ba3 SGL-2 03/15/13 Diversified Industrials/Services/Paper
Sears Roebuck Acceptance Corp. US$ 4.47 Regular Bond/Debenture Ba3 03/15/13 Retail/Apparel
Sears Roebuck Acceptance Corp. US$ 7.27 Regular Bond/Debenture Ba3 03/15/13 Retail/Apparel
Building
Standard Pacific Corp. US$ 121.58 Regular Bond/Debenture Caa1 SGL-3 03/15/13 Products/Manufacturing/Homebuilding
Telcordia Technologies Inc. US$ 300.0 Regular Bond/Debenture Caa2 03/15/13 Telecom/Tech./Media
American Tire Distributors, Inc. US$ 150.0 Regular Bond/Debenture Caa1 SGL-3 04/01/13 Auto/Transportation/Defence
US$ 24.69706 Enhanced Equipment
Continental Airlines, Inc. Trust Ba3 SGL-3 04/01/13 Auto/Transportation/Defence
Denbury Resources, Inc. US$ 225.0 Regular Bond/Debenture B1 04/01/13 Energy/Natural Resources/Chemicals
US$ 476.10 Regular
MGM MIRAGE Bond/Debenture Caa2 SGL-4 04/01/13 Food/Entertainment/Lodging
Nexstar Finance Holdings, Inc. US$ 83.09 Regular Bond/Debenture Ca SGL-3 04/01/13 Telecom/Tech./Media
Sunstate Equipment Co., LLC US$ 150.0 Regular Bond/Debenture Caa3 04/01/13 Auto/Transportation/Defence
US$ 191.09 Regular Building
William Lyon Homes, Inc. Bond/Debenture Caa3 04/01/13 Products/Manufacturing/Homebuilding

76 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
US$ 146.10 Regular
AutoNation, Inc. Bond/Debenture Ba2 SGL-2 04/15/13 Auto/Transportation/Defence
Mariner Energy, Inc. US$ 300.0 Regular Bond/Debenture B3 SGL-2 04/15/13 Energy/Natural Resources/Chemicals
PHI, Inc. US$ 200.0 Regular Bond/Debenture B2 04/15/13 Energy/Natural Resources/Chemicals
US$ 152.50 Regular
Scholastic Corporation Bond/Debenture B1 04/15/13 Telecom/Tech./Media
Toys 'R' US, Inc. (Old) US$ 400.0 Regular Bond/Debenture Caa1 04/15/13 Retail/Apparel
Willamette Industries, Inc. US$ 5.0 Regular Bond/Debenture Ba1 04/22/13 Diversified Industrials/Services/Paper
Building
D.R. Horton, Inc. US$ 200.0 Regular Bond/Debenture Ba3 SGL-2 05/01/13 Products/Manufacturing/Homebuilding
Building
Gardner Denver Inc. US$ 125.0 Regular Bond/Debenture B1 SGL-1 05/01/13 Products/Manufacturing/Homebuilding
iPCS, Inc. US$ 300.0 Regular Bond/Debenture B1 SGL-2 05/01/13 Telecom/Tech./Media
Building
K. Hovnanian Enterprises, Inc. US$ 0.478 Regular Bond/Debenture Caa1 05/01/13 Products/Manufacturing/Homebuilding
New Albertson's, Inc. US$ 200.0 Regular Bond/Debenture Ba3 05/01/13 Retail/Apparel
NewPage Corporation US$ 200.0 Regular Bond/Debenture Caa3 SGL-3 05/01/13 Diversified Industrials/Services/Paper
Phillips Van Heusen Corporation US$ 150.0 Regular Bond/Debenture Ba3 05/01/13 Retail/Apparel
Whiting Petroleum Corporation US$ 220.0 Regular Bond/Debenture B1 SGL-2 05/01/13 Energy/Natural Resources/Chemicals
American Airlines, Inc. US$ 8.719 Equipment Trust Caa2 05/07/13 Auto/Transportation/Defence
US$ 690.301 Regular
AES Corporation, (The) Bond/Debenture Ba3 SGL-2 05/15/13 Utilities
US$ 372.85 Regular
Amkor Technology, Inc. Bond/Debenture B2 SGL-2 05/15/13 Telecom/Tech./Media
US$ 299.806 Regular
Flextronics International Ltd. Bond/Debenture Ba2 SGL-1 05/15/13 Telecom/Tech./Media
Building
Hovnanian Enterprises, Inc. US$ 93.4 Regular Bond/Debenture Caa3 SGL-3 05/15/13 Products/Manufacturing/Homebuilding
US$ 406.303 Regular Building
JohnsonDiversey Holdings, Inc. Bond/Debenture Caa1 05/15/13 Products/Manufacturing/Homebuilding
Liberty Media LLC US$ 803.0 Regular Bond/Debenture Ba2 SGL-2 05/15/13 Telecom/Tech./Media
LIN Television Corporation US$ 375.0 Regular Bond/Debenture B3 SGL-4 05/15/13 Telecom/Tech./Media
US$ 189.995 Regular
LIN Television Corporation Bond/Debenture B3 SGL-4 05/15/13 Telecom/Tech./Media
Owens-Brockway Glass Container,
Inc. US$ 450.0 Regular Bond/Debenture Ba3 05/15/13 Diversified Industrials/Services/Paper
Smithfield Foods, Inc. US$ 350.0 Regular Bond/Debenture Caa1 SGL-3 05/15/13 Food/Entertainment/Lodging
US$ 175.47 Regular
Belo Corp. Bond/Debenture B1 SGL-2 05/30/13 Telecom/Tech./Media
Omnicare, Inc. US$ 250.0 Regular Bond/Debenture B1 SGL-2 06/01/13 Healthcare/Healthcare Equipment
Speedway Motorsports Inc. US$ 330.0 Regular Bond/Debenture Ba2 SGL-2 06/01/13 Diversified Industrials/Services/Paper
U.S. Corrugated, Inc. US$ 135.0 Regular Bond/Debenture B3 06/01/13 Diversified Industrials/Services/Paper
United States Steel Corporation US$ 300.0 Regular Bond/Debenture Ba3 SGL-1 06/01/13 Energy/Natural Resources/Chemicals
US$ 130.0 Enhanced Equipment
Continental Airlines, Inc. Trust B1 SGL-3 06/02/13 Auto/Transportation/Defence
American Airlines, Inc. US$ 0.41 Equipment Trust Caa2 06/15/13 Auto/Transportation/Defence

77 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
American Airlines, Inc. US$ 2.676 Equipment Trust Caa2 06/15/13 Auto/Transportation/Defence
Bristow Group Inc. US$ 230.0 Regular Bond/Debenture Ba2 06/15/13 Auto/Transportation/Defence
Centennial Cellular Operating Co.
LLC US$ 500.0 Regular Bond/Debenture B1 06/15/13 Telecom/Tech./Media
Edison Mission Energy US$ 500.0 Regular Bond/Debenture B2 SGL-3 06/15/13 Utilities
US$ 276.50 Regular
Energy XXI Gulf Coast, Inc. Bond/Debenture Ca SGL-4 06/15/13 Energy/Natural Resources/Chemicals
Esterline Technologies Corp. US$ 175.0 Regular Bond/Debenture B1 06/15/13 Auto/Transportation/Defence
FTI Consulting, Inc. US$ 200.0 Regular Bond/Debenture Ba2 SGL-2 06/15/13 Diversified Industrials/Services/Paper
Building
Ply Gem Industries, Inc. US$ 700.0 Regular Bond/Debenture Caa1 06/15/13 Products/Manufacturing/Homebuilding
US$ 748.75 Regular
Qwest Corporation Bond/Debenture Ba1 06/15/13 Telecom/Tech./Media
Royal Caribbean Cruises Ltd. US$ 550.0 Regular Bond/Debenture Ba3 SGL-3 06/15/13 Food/Entertainment/Lodging
Building
Ryland Group, Inc. (The) US$ 212.15 Regular Bond/Debenture Ba3 SGL-2 06/15/13 Products/Manufacturing/Homebuilding
US$ 200.0 Conv./Exch.
Sotheby's Bond/Debenture B1 06/15/13 Retail/Apparel
United Components, Inc. US$ 230.0 Regular Bond/Debenture Caa2 06/15/13 Auto/Transportation/Defence
US$ 160.89 Regular
Warnaco, Inc. Bond/Debenture Ba3 06/15/13 Retail/Apparel
US$ 525.75 Regular
XM Satellite Radio Inc. Bond/Debenture Caa2 06/15/13 Telecom/Tech./Media
Willamette Industries, Inc. US$ 10.0 Regular Bond/Debenture Ba1 06/18/13 Diversified Industrials/Services/Paper
Willamette Industries, Inc. US$ 22.0 Regular Bond/Debenture Ba1 06/25/13 Diversified Industrials/Services/Paper
US$ 949.85 Regular
Arch Western Finance LLC Bond/Debenture B1 07/01/13 Energy/Natural Resources/Chemicals
Baker & Taylor Acquisitions Corp. US$ 165.0 Regular Bond/Debenture B3 07/01/13 Retail/Apparel
Commercial Vehicle Group, Inc. US$ 97.80 Regular Bond/Debenture Caa3 SGL-4 07/01/13 Auto/Transportation/Defence
CPG International I Inc. US$ 150.0 Regular Bond/Debenture Caa1 SGL-2 07/01/13 Diversified Industrials/Services/Paper
Building
D.R. Horton, Inc. US$ 100.0 Regular Bond/Debenture Ba3 SGL-2 07/01/13 Products/Manufacturing/Homebuilding
US$ 128.53 Regular
Weyerhaeuser Company Bond/Debenture Ba1 SGL-1 07/01/13 Diversified Industrials/Services/Paper
Willamette Industries, Inc. US$ 10.3 Regular Bond/Debenture Ba1 07/08/13 Diversified Industrials/Services/Paper
Ashland Inc. US$ 8.0 Regular Bond/Debenture Ba3 07/15/13 Energy/Natural Resources/Chemicals
Chesapeake Energy Corporation US$ 500.0 Regular Bond/Debenture Ba3 SGL-3 07/15/13 Energy/Natural Resources/Chemicals
Dole Food Company, Inc. US$ 155.0 Regular Bond/Debenture Caa1 07/15/13 Food/Entertainment/Lodging
HCA, Inc. (Oldco) US$ 500.0 Regular Bond/Debenture Caa1 07/15/13 Healthcare/Healthcare Equipment
US$ 398.99 Regular
L-3 Communications Corporation Bond/Debenture Ba2 07/15/13 Auto/Transportation/Defence
Mandalay Resort Group US$ 150.0 Regular Bond/Debenture Ca 07/15/13 Food/Entertainment/Lodging
US$ 768.60 Regular
PetroHawk Energy Corporation Bond/Debenture B3 SGL-3 07/15/13 Energy/Natural Resources/Chemicals
Range Resources Corporation US$ 200.0 Regular Bond/Debenture Ba3 07/15/13 Energy/Natural Resources/Chemicals
Tenneco Inc. US$ 245.0 Regular Bond/Debenture B1 07/15/13 Auto/Transportation/Defence

78 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
Building
Texas Industries, Inc. US$ 250.0 Regular Bond/Debenture B2 07/15/13 Products/Manufacturing/Homebuilding
Building
Texas Industries, Inc. US$ 300.0 Regular Bond/Debenture B2 07/15/13 Products/Manufacturing/Homebuilding
Willamette Industries, Inc. US$ 3.0 Regular Bond/Debenture Ba1 07/15/13 Diversified Industrials/Services/Paper
Willamette Industries, Inc. US$ 5.0 Regular Bond/Debenture Ba1 07/22/13 Diversified Industrials/Services/Paper
Willamette Industries, Inc. US$ 26.2 Regular Bond/Debenture Ba1 07/22/13 Diversified Industrials/Services/Paper
Westinghouse Air Brake
Technologies Corp. US$ 150.0 Regular Bond/Debenture Ba2 07/31/13 Auto/Transportation/Defence
CCM Merger, Inc. US$ 300.0 Regular Bond/Debenture Caa3 08/01/13 Food/Entertainment/Lodging
Clayton Williams Energy, Inc. US$ 225.0 Regular Bond/Debenture Caa1 SGL-3 08/01/13 Energy/Natural Resources/Chemicals
Collective Brands, Inc US$ 198.0 Regular Bond/Debenture B3 08/01/13 Retail/Apparel
First Data Corporation (Old) US$ 15.14 Regular Bond/Debenture Caa2 08/01/13 Telecom/Tech./Media
Phibro Animal Health Corporation US$ 160.0 Regular Bond/Debenture B2 08/01/13 Healthcare/Healthcare Equipment
Sirius XM Radio Inc. US$ 500.0 Regular Bond/Debenture Ca SGL-3 08/01/13 Telecom/Tech./Media
Windstream Corporation US$ 800.0 Regular Bond/Debenture Ba3 SGL-1 08/01/13 Telecom/Tech./Media
XM Satellite Radio Inc. US$ 778.5 Regular Bond/Debenture Ca 08/01/13 Telecom/Tech./Media
Ahern Rentals Inc. US$ 290.0 Regular Bond/Debenture Caa3 SGL-4 08/15/13 Auto/Transportation/Defence
Bio-Rad Laboratories, Inc. US$ 225.0 Regular Bond/Debenture Ba3 08/15/13 Healthcare/Healthcare Equipment
US$ 237.90 Regular
Brunswick Corporation Bond/Debenture Caa1 SGL-2 08/15/13 Consumer Products
Cardtronics, Inc. US$ 100.0 Regular Bond/Debenture Caa1 08/15/13 Diversified Industrials/Services/Paper
Cardtronics, Inc. US$ 200.0 Regular Bond/Debenture Caa1 08/15/13 Diversified Industrials/Services/Paper
US$ 172.5 Conv./Exch.
Ferro Corporation Bond/Debenture B2 SGL-3 08/15/13 Energy/Natural Resources/Chemicals
GenCorp Inc. US$ 97.5 Regular Bond/Debenture B1 08/15/13 Auto/Transportation/Defence
Global Aviation Holdings, Inc US$ 175.0 Regular Bond/Debenture Ba3 08/15/13 Auto/Transportation/Defence
US$ 424.925 Regular
Graphic Packaging International Inc. Bond/Debenture B3 SGL-3 08/15/13 Diversified Industrials/Services/Paper
Group 1 Automotive, Inc. US$ 74.6 Regular Bond/Debenture B3 08/15/13 Auto/Transportation/Defence
Building
Leucadia National Corporation US$ 100.0 Regular Bond/Debenture B1 08/15/13 Products/Manufacturing/Homebuilding
US$ 339.40 Regular Building
Leucadia National Corporation Bond/Debenture B1 08/15/13 Products/Manufacturing/Homebuilding
LifeCare Holdings, Inc. US$ 147.0 Regular Bond/Debenture Caa3 SGL-3 08/15/13 Healthcare/Healthcare Equipment
Building
Masco Corporation US$ 200.0 Regular Bond/Debenture Ba2 SGL-2 08/15/13 Products/Manufacturing/Homebuilding
May Department Stores Company
(The) US$ 125.0 Regular Bond/Debenture Ba2 08/15/13 Retail/Apparel
Office Depot, Inc. US$ 400.0 Regular Bond/Debenture Caa1 SGL-2 08/15/13 Retail/Apparel
US$ 184.77 Regular
Rite Aid Corporation Bond/Debenture Ca SGL-3 08/15/13 Retail/Apparel
Sonic Automotive, Inc. US$ 275.0 Regular Bond/Debenture Caa3 08/15/13 Auto/Transportation/Defence
US$ 1600.0 Regular
Sungard Data Systems Inc. Bond/Debenture Caa1 SGL-2 08/15/13 Telecom/Tech./Media
Syniverse Technologies, Inc. US$ 175.0 Regular Bond/Debenture B2 08/15/13 Telecom/Tech./Media

79 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
US$ 1000.0 Regular
Case New Holland Inc. Bond/Debenture Ba3 09/01/13 Auto/Transportation/Defence
Knight Inc. US$ 6.143 Regular Bond/Debenture Ba1 09/01/13 Energy/Natural Resources/Chemicals
Mashantucket (Western) Pequot US$ 0.91232 Regular
Tribe, CT Bond/Debenture Caa3 09/01/13 Food/Entertainment/Lodging
OfficeMax, Incorporated US$ 1.5 Regular Bond/Debenture B2 SGL-2 09/03/13 Retail/Apparel
US$ 363.82 Regular
Chesapeake Energy Corporation Bond/Debenture Ba3 SGL-3 09/15/13 Energy/Natural Resources/Chemicals
Perry Ellis International, Inc. US$ 150.0 Regular Bond/Debenture B3 09/15/13 Retail/Apparel
San Pasqual Casino Development
Group, Inc. US$ 180.0 Regular Bond/Debenture B2 09/15/13 Food/Entertainment/Lodging
Building
Toll Brothers Finance Corp. US$ 155.13 Regular Bond/Debenture Ba1 09/15/13 Products/Manufacturing/Homebuilding
Buckeye Technologies Inc. US$ 200.0 Regular Bond/Debenture B1 10/01/13 Diversified Industrials/Services/Paper
US$ 269.92 Regular Building
Centex Corporation Bond/Debenture B1 10/01/13 Products/Manufacturing/Homebuilding
Dish DBS Corporation US$ 500.0 Regular Bond/Debenture Ba3 10/01/13 Telecom/Tech./Media
US$ 154.061 Regular
M-Foods Holdings, Inc. Bond/Debenture B3 10/01/13 Food/Entertainment/Lodging
US$ 224.65 Regular
Parker Drilling Company Bond/Debenture B2 10/01/13 Energy/Natural Resources/Chemicals
Perkins & Marie Callender's Inc. US$ 189.0 Regular Bond/Debenture Ca SGL-4 10/01/13 Food/Entertainment/Lodging
Affinion Group, Inc. US$ 150.0 Regular Bond/Debenture B2 10/15/13 Telecom/Tech./Media
Affinion Group, Inc. US$ 304.0 Regular Bond/Debenture B2 10/15/13 Telecom/Tech./Media
Pregis Corporation US$ 150.0 Regular Bond/Debenture Caa2 SGL-3 10/15/13 Diversified Industrials/Services/Paper
ResCare, Inc. US$ 150.0 Regular Bond/Debenture B1 10/15/13 Healthcare/Healthcare Equipment
Universal Corporation US$ 200.0 Regular Bond/Debenture Ba2 10/15/13 Consumer Products
US$ 1458.04 Regular
NEXTEL Communications, Inc. Bond/Debenture Ba2 10/31/13 Telecom/Tech./Media
Blyth, Inc. US$ 100.0 Regular Bond/Debenture B1 11/01/13 Retail/Apparel
US$ 124.855 Regular Building
Columbus McKinnon Corporation Bond/Debenture B1 11/01/13 Products/Manufacturing/Homebuilding
US$ 67.42371 Regular
Indianapolis Downs, LLC Bond/Debenture Ca 11/01/13 Food/Entertainment/Lodging
Building
Interface, Inc. US$ 150.0 Regular Bond/Debenture B1 11/01/13 Products/Manufacturing/Homebuilding
Keystone Automotive Operations,
Inc. US$ 175.0 Regular Bond/Debenture Caa3 11/01/13 Auto/Transportation/Defence
Building
Manitowoc Company, Inc. (The) US$ 150.0 Regular Bond/Debenture Caa1 11/01/13 Products/Manufacturing/Homebuilding
O'Charley's, Inc. US$ 125.0 Regular Bond/Debenture Caa1 SGL-3 11/01/13 Food/Entertainment/Lodging
Solo Cup Company US$ 300.0 Regular Bond/Debenture B2 SGL-2 11/01/13 Diversified Industrials/Services/Paper
Targa Resources, Inc. US$ 250.0 Regular Bond/Debenture B3 SGL-2 11/01/13 Energy/Natural Resources/Chemicals
US$ 164.40 Regular Building
Beazer Homes USA, Inc. Bond/Debenture Caa2 SGL-3 11/15/13 Products/Manufacturing/Homebuilding
CCO Holdings, LLC US$ 800.0 Regular Bond/Debenture B2 11/15/13 Telecom/Tech./Media

Chukchansi Economic Development US$ 200.0 Regular Bond/Debenture B3 11/15/13 Food/Entertainment/Lodging

80 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
Authority

Crown Americas LLC US$ 500.0 Regular Bond/Debenture B1 11/15/13 Diversified Industrials/Services/Paper
Eastman Kodak Company US$ 500.0 Regular Bond/Debenture Caa1 SGL-1 11/15/13 Telecom/Tech./Media
El Pollo Loco, Inc. US$ 125.0 Regular Bond/Debenture Caa2 SGL-3 11/15/13 Food/Entertainment/Lodging
US$ 355.0 Conv./Exch. Building
General Cable Corporation Bond/Debenture B1 SGL-1 11/15/13 Products/Manufacturing/Homebuilding
MGM MIRAGE US$ 750.0 Regular Bond/Debenture B1 SGL-4 11/15/13 Food/Entertainment/Lodging
Michael Foods, Inc. US$ 150.0 Regular Bond/Debenture B3 11/15/13 Food/Entertainment/Lodging
Nalco Company US$ 465.0 Regular Bond/Debenture B2 11/15/13 Energy/Natural Resources/Chemicals
US$ 163.80 Regular
NCO Group, Inc. Bond/Debenture B3 SGL-3 11/15/13 Diversified Industrials/Services/Paper
Silgan Holdings Inc. US$ 200.0 Regular Bond/Debenture B1 11/15/13 Diversified Industrials/Services/Paper
United Rentals (North America), Inc. US$ 483.5 Regular Bond/Debenture Caa1 SGL-3 11/15/13 Auto/Transportation/Defence
Accellent Inc. US$ 305.0 Regular Bond/Debenture Caa2 SGL-2 12/01/13 Healthcare/Healthcare Equipment
US$ 296.27 Regular
Cenveo Corporation Bond/Debenture Caa1 SGL-3 12/01/13 Diversified Industrials/Services/Paper
Network Communications, Inc. US$ 175.0 Regular Bond/Debenture Caa1 SGL-3 12/01/13 Telecom/Tech./Media
Overseas Shipholding Group, Inc. US$ 74.47 Regular Bond/Debenture Ba2 12/01/13 Auto/Transportation/Defence
Royal Caribbean Cruises Ltd. US$ 350.0 Regular Bond/Debenture Ba3 SGL-3 12/01/13 Food/Entertainment/Lodging
Saks Incorporated US$ 2.92 Regular Bond/Debenture Caa1 12/01/13 Retail/Apparel
SS&C Technologies, Inc. US$ 205.0 Regular Bond/Debenture Caa1 SGL-2 12/01/13 Telecom/Tech./Media
Team Finance LLC US$ 215.0 Regular Bond/Debenture Caa1 SGL-1 12/01/13 Healthcare/Healthcare Equipment
Visant Holding Corp. US$ 350.0 Regular Bond/Debenture B3 12/01/13 Telecom/Tech./Media
US$ 247.20 Regular
Visant Holding Corp. Bond/Debenture B3 12/01/13 Telecom/Tech./Media
El Paso Corporation US$ 500.0 Regular Bond/Debenture Ba3 SGL-3 12/12/13 Energy/Natural Resources/Chemicals
ESCO Corporation US$ 200.0 Regular Bond/Debenture B2 SGL-2 12/15/13 Energy/Natural Resources/Chemicals
ESCO Corporation US$ 100.0 Regular Bond/Debenture B2 SGL-2 12/15/13 Energy/Natural Resources/Chemicals
Georgia Gulf Corporation US$ 9.00 Regular Bond/Debenture Caa1 12/15/13 Energy/Natural Resources/Chemicals
Great Lakes Dredge & Dock
Corporation US$ 175.0 Regular Bond/Debenture Caa1 12/15/13 Auto/Transportation/Defence
Harrah's Operating Company, Inc.
(Old) US$ 92.70 Regular Bond/Debenture Ca 12/15/13 Food/Entertainment/Lodging
US$ 68.59561 Enhanced Equipment
JetBlue Airways Corp. Trust B1 SGL-3 12/15/13 Auto/Transportation/Defence
Kansas City Southern Railway
Company (The) US$ 190.0 Regular Bond/Debenture B2 12/15/13 Auto/Transportation/Defence
Massey Energy Company US$ 760.0 Regular Bond/Debenture B2 12/15/13 Energy/Natural Resources/Chemicals
Omnicare, Inc. US$ 225.0 Regular Bond/Debenture B1 SGL-2 12/15/13 Healthcare/Healthcare Equipment
US$ 357.50 Regular
Regency Energy Partners LP Bond/Debenture B1 SGL-3 12/15/13 Energy/Natural Resources/Chemicals
Building
Sensus Metering Systems Inc. US$ 275.0 Regular Bond/Debenture B3 12/15/13 Products/Manufacturing/Homebuilding
SGS International, Inc. US$ 174.5 Regular Bond/Debenture B3 SGL-3 12/15/13 Telecom/Tech./Media
Suburban Propane Partners, L.P. US$ 250.0 Regular Bond/Debenture Ba3 12/15/13 Energy/Natural Resources/Chemicals

81 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
Susser Holdings, LLC US$ 300.0 Regular Bond/Debenture B3 SGL-2 12/15/13 Retail/Apparel
US$ 316.73 Regular
UCI Holdco, Inc. Bond/Debenture Caa3 12/15/13 Auto/Transportation/Defence
Mirant North America, LLC US$ 850.0 Regular Bond/Debenture B1 12/31/13 Utilities
US$ 1747.22 Regular
CCMG Acquisition Corporation Bond/Debenture B2 01/01/14 Auto/Transportation/Defence
American Airlines, Inc. US$ 4.344 Equipment Trust Caa1 01/02/14 Auto/Transportation/Defence
American Airlines, Inc. US$ 4.344 Equipment Trust Caa1 01/02/14 Auto/Transportation/Defence
American Airlines, Inc. US$ 4.344 Equipment Trust Caa1 01/02/14 Auto/Transportation/Defence
US$ 49.413 Enhanced Equipment
JetBlue Airways Corp. Trust B3 SGL-3 01/02/14 Auto/Transportation/Defence
US$ 224.44 Regular
Allis-Chalmers Energy Inc. Bond/Debenture Caa1 SGL-3 01/15/14 Energy/Natural Resources/Chemicals
Atlantic Broadband Finance, LLC US$ 150.0 Regular Bond/Debenture Caa1 SGL-2 01/15/14 Telecom/Tech./Media
Cincinnati Bell Inc. US$ 582.1 Regular Bond/Debenture B2 SGL-3 01/15/14 Telecom/Tech./Media
Building
D.R. Horton, Inc. US$ 200.0 Regular Bond/Debenture Ba3 SGL-2 01/15/14 Products/Manufacturing/Homebuilding
Elizabeth Arden, Inc. US$ 225.0 Regular Bond/Debenture B1 SGL-3 01/15/14 Consumer Products
US$ 143.75 Conv./Exch.
Hanover Compressor Company Bond/Debenture B1 01/15/14 Energy/Natural Resources/Chemicals
Building
K. Hovnanian Enterprises, Inc. US$ 86.90 Regular Bond/Debenture Caa2 01/15/14 Products/Manufacturing/Homebuilding
Kraton Polymers LLC US$ 170.0 Regular Bond/Debenture Caa1 01/15/14 Energy/Natural Resources/Chemicals
L-3 Communications Corporation US$ 400.0 Regular Bond/Debenture Ba2 01/15/14 Auto/Transportation/Defence
US$ 48.886 Regular
Nexstar Broadcasting, Inc. Bond/Debenture Caa2 01/15/14 Telecom/Tech./Media
Building
Pulte Homes, Inc. US$ 500.0 Regular Bond/Debenture B1 SGL-2 01/15/14 Products/Manufacturing/Homebuilding
Simmons Company US$ 200.0 Regular Bond/Debenture Caa3 01/15/14 Consumer Products
Skilled Healthcare Group, Inc. US$ 130.0 Regular Bond/Debenture Caa1 SGL-3 01/15/14 Healthcare/Healthcare Equipment
SunGard Data Systems Inc. (Old) US$ 250.0 Regular Bond/Debenture B3 01/15/14 Telecom/Tech./Media
Building
Terex Corporation US$ 298.5 Regular Bond/Debenture Ba3 SGL-3 01/15/14 Products/Manufacturing/Homebuilding
Centennial Cellular Operating Co.
LLC US$ 325.0 Regular Bond/Debenture B1 02/01/14 Telecom/Tech./Media
Exopack Holding Corporation US$ 220.0 Regular Bond/Debenture B3 SGL-3 02/01/14 Diversified Industrials/Services/Paper
Building
Interface, Inc. US$ 135.0 Regular Bond/Debenture B3 02/01/14 Products/Manufacturing/Homebuilding
Building
KB HOME US$ 250.0 Regular Bond/Debenture B1 SGL-2 02/01/14 Products/Manufacturing/Homebuilding
US$ 460.82 Regular
Nalco Finance Holdings LLC Bond/Debenture B2 02/01/14 Energy/Natural Resources/Chemicals
US$ 1200.0 Regular
NRG Energy, Inc. Bond/Debenture B1 SGL-1 02/01/14 Utilities
Snoqualmie Entertainment
Authority US$ 130.0 Regular Bond/Debenture Caa1 02/01/14 Food/Entertainment/Lodging
US$ 174.975 Regular Building
Thermadyne Holdings Corporation Bond/Debenture Caa1 02/01/14 Products/Manufacturing/Homebuilding

82 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
US$ 138.45 Regular
Town Sports International Holdings Bond/Debenture B3 02/01/14 Diversified Industrials/Services/Paper
Whiting Petroleum Corporation US$ 250.0 Regular Bond/Debenture B1 SGL-2 02/01/14 Energy/Natural Resources/Chemicals
American Axle & Manufacturing, Inc. US$ 250.0 Regular Bond/Debenture Ca 02/11/14 Auto/Transportation/Defence
Forest Oil Corp. US$ 600.0 Regular Bond/Debenture B1 SGL-3 02/15/14 Energy/Natural Resources/Chemicals
GCI, Inc. US$ 320.0 Regular Bond/Debenture B2 SGL-2 02/15/14 Telecom/Tech./Media
Little Traverse Bay Bands of Odawa
Indians US$ 122.0 Regular Bond/Debenture Ca 02/15/14 Food/Entertainment/Lodging
US$ 246.975 Regular
Pantry Inc., The Bond/Debenture Caa1 02/15/14 Retail/Apparel
Qwest Communications US$ 499.65 Regular
International Inc. Bond/Debenture Ba3 SGL-1 02/15/14 Telecom/Tech./Media
Qwest Communications
International Inc. US$ 798.0 Regular Bond/Debenture Ba3 SGL-1 02/15/14 Telecom/Tech./Media
Seitel, Inc. US$ 400.0 Regular Bond/Debenture Caa3 SGL-4 02/15/14 Energy/Natural Resources/Chemicals
Solo Cup Company US$ 325.0 Regular Bond/Debenture Caa2 SGL-2 02/15/14 Diversified Industrials/Services/Paper
tw telecom holdings inc. US$ 400.0 Regular Bond/Debenture B2 02/15/14 Telecom/Tech./Media
United Rentals (North America), Inc. US$ 261.0 Regular Bond/Debenture Caa1 SGL-3 02/15/14 Auto/Transportation/Defence
US$ 389.895 Regular
Vail Resorts, Inc. Bond/Debenture Ba3 02/15/14 Food/Entertainment/Lodging
US$ 102.34 Regular Building
William Lyon Homes, Inc. Bond/Debenture Caa3 02/15/14 Products/Manufacturing/Homebuilding
MGM MIRAGE US$ 508.9 Regular Bond/Debenture Caa2 SGL-4 02/27/14 Food/Entertainment/Lodging
AES Corporation, (The) US$ 500.0 Regular Bond/Debenture B1 SGL-2 03/01/14 Utilities
AMC Entertainment, Inc. US$ 300.0 Regular Bond/Debenture Caa1 03/01/14 Food/Entertainment/Lodging
American Railcar Industries, Inc. US$ 275.0 Regular Bond/Debenture Caa1 SGL-2 03/01/14 Auto/Transportation/Defence
Building
AMH Holdings, LLC US$ 446.0 Regular Bond/Debenture Caa2 03/01/14 Products/Manufacturing/Homebuilding
Case New Holland Inc. US$ 500.0 Regular Bond/Debenture Ba3 03/01/14 Auto/Transportation/Defence
US$ 91.395 Regular
Chattem, Inc. Bond/Debenture B2 03/01/14 Consumer Products
Isle of Capri Casinos, Inc. US$ 357.2 Regular Bond/Debenture Caa1 03/01/14 Food/Entertainment/Lodging
US$ 158.35 Regular
Steinway Musical Instruments, Inc. Bond/Debenture B3 SGL-3 03/01/14 Consumer Products
Tyson Foods, Inc. US$ 810.0 Regular Bond/Debenture Ba3 SGL-3 03/01/14 Food/Entertainment/Lodging
American Airlines, Inc. US$ 3.688 Equipment Trust Caa1 03/04/14 Auto/Transportation/Defence
American Airlines, Inc. US$ 4.095 Equipment Trust Caa1 03/04/14 Auto/Transportation/Defence
American Airlines, Inc. US$ 4.095 Equipment Trust Caa1 03/04/14 Auto/Transportation/Defence
American Airlines, Inc. US$ 2.491 Equipment Trust Caa2 03/04/14 Auto/Transportation/Defence
Anixter Inc. US$ 200.0 Regular Bond/Debenture Ba2 03/15/14 Diversified Industrials/Services/Paper
Asbury Automotive Group, Inc. US$ 173.0 Regular Bond/Debenture Caa1 03/15/14 Auto/Transportation/Defence
US$ 509.47 Regular
Bon-Ton Stores Inc., (The) Bond/Debenture Caa3 SGL-3 03/15/14 Retail/Apparel
California Steel Industries, Inc. US$ 150.0 Regular Bond/Debenture B1 03/15/14 Energy/Natural Resources/Chemicals
Dave & Buster's, Inc. US$ 175.0 Regular Bond/Debenture B3 SGL-3 03/15/14 Food/Entertainment/Lodging

83 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
US$ 349.903 Regular
Dole Food Company, Inc. Bond/Debenture B2 03/15/14 Food/Entertainment/Lodging
General Nutrition Centers, Inc. US$ 300.0 Regular Bond/Debenture Caa1 SGL-3 03/15/14 Retail/Apparel
HCA, Inc. (Oldco) US$ 500.0 Regular Bond/Debenture Caa1 03/15/14 Healthcare/Healthcare Equipment
J.B. Poindexter & Co., Inc. US$ 200.0 Regular Bond/Debenture Caa1 SGL-3 03/15/14 Auto/Transportation/Defence
US$ 187.89 Enhanced Equipment
JetBlue Airways Corp. Trust B1 SGL-3 03/15/14 Auto/Transportation/Defence
Newark Group, Inc. (The) US$ 175.0 Regular Bond/Debenture C SGL-4 03/15/14 Diversified Industrials/Services/Paper
US$ 1157.16 Regular
NEXTEL Communications, Inc. Bond/Debenture Ba2 03/15/14 Telecom/Tech./Media
US$ 230.04 Regular
NV Energy Inc. Bond/Debenture Ba3 SGL-3 03/15/14 Utilities
Seminole Hard Rock Entertainment,
Inc. US$ 525.0 Regular Bond/Debenture B1 03/15/14 Food/Entertainment/Lodging
Building
Toll Brothers Finance Corp. US$ 300.0 Regular Bond/Debenture Ba1 03/15/14 Products/Manufacturing/Homebuilding
TRW Automotive Inc. US$ 482.0 Regular Bond/Debenture Caa1 SGL-3 03/15/14 Auto/Transportation/Defence
US$ 17.30819 Enhanced Equipment
AirTran Airways, Inc. Trust Caa1 04/01/14 Auto/Transportation/Defence
Lamar Media Corporation US$ 350.0 Regular Bond/Debenture Ba3 04/01/14 Telecom/Tech./Media
SandRidge Energy, Inc. US$ 350.0 Regular Bond/Debenture B3 04/01/14 Energy/Natural Resources/Chemicals
Building
Standard Pacific Corp. US$ 150.0 Regular Bond/Debenture Caa1 SGL-3 04/01/14 Products/Manufacturing/Homebuilding
Building
U.S. Concrete, Inc. US$ 285.0 Regular Bond/Debenture B3 SGL-2 04/01/14 Products/Manufacturing/Homebuilding
US$ 132.60 Regular
AutoNation, Inc. Bond/Debenture Ba2 SGL-2 04/15/14 Auto/Transportation/Defence
US$ 279.618 Regular
Boyd Gaming Corporation Bond/Debenture B3 SGL-3 04/15/14 Food/Entertainment/Lodging
Burlington Coat Factory Warehouse
Corp US$ 305.0 Regular Bond/Debenture Caa1 SGL-3 04/15/14 Retail/Apparel
US$ 228.538 Regular
BWAY Corporation Bond/Debenture B3 SGL-3 04/15/14 Diversified Industrials/Services/Paper
CSC Holdings, Inc. US$ 844.0 Regular Bond/Debenture Ba3 04/15/14 Telecom/Tech./Media
Encore Acquisition Company US$ 150.0 Regular Bond/Debenture B1 04/15/14 Energy/Natural Resources/Chemicals
French Lick Resorts & Casino, LLC US$ 58.389 First Mortgage Bonds Ca 04/15/14 Food/Entertainment/Lodging
Hughes Network Systems, LLC US$ 150.0 Regular Bond/Debenture B1 SGL-2 04/15/14 Telecom/Tech./Media
Hughes Network Systems, LLC US$ 450.0 Regular Bond/Debenture B1 SGL-2 04/15/14 Telecom/Tech./Media
US$ 100.796 Conv./Exch. Building
Leucadia National Corporation Bond/Debenture B3 04/15/14 Products/Manufacturing/Homebuilding
US$ 1700.0 Regular
Realogy Corporation Bond/Debenture Ca SGL-4 04/15/14 Diversified Industrials/Services/Paper
US$ 652.74 Regular
Realogy Corporation Bond/Debenture Ca SGL-4 04/15/14 Diversified Industrials/Services/Paper
WMG Acquisition Corp US$ 465.0 Regular Bond/Debenture B1 04/15/14 Telecom/Tech./Media
Continental Airlines, Inc. US$ 168.198 Equipment Trust B1 SGL-3 04/19/14 Auto/Transportation/Defence
Charter Communications Operating,
LLC US$ 770.0 Regular Bond/Debenture B1 04/30/14 Telecom/Tech./Media

84 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
Amscan Holdings, Inc. US$ 175.0 Regular Bond/Debenture Caa1 05/01/14 Retail/Apparel
Brigham Exploration Company US$ 160.0 Regular Bond/Debenture Caa3 SGL-2 05/01/14 Energy/Natural Resources/Chemicals
DigitalGlobe, Inc. US$ 355.0 Regular Bond/Debenture Ba3 SGL-2 05/01/14 Telecom/Tech./Media
Ferrellgas, L.P. US$ 200.0 Regular Bond/Debenture Ba3 05/01/14 Energy/Natural Resources/Chemicals
Ferrellgas, L.P. US$ 250.0 Regular Bond/Debenture Ba3 05/01/14 Energy/Natural Resources/Chemicals
Forest Oil Corp. US$ 150.0 Regular Bond/Debenture B1 SGL-3 05/01/14 Energy/Natural Resources/Chemicals
Frontier Communications
Corporation US$ 600.0 Regular Bond/Debenture Ba2 SGL-1 05/01/14 Telecom/Tech./Media
US$ 179.30648 Regular
iPCS, Inc. Bond/Debenture Caa1 SGL-2 05/01/14 Telecom/Tech./Media
JBS USA, LLC US$ 700.0 Regular Bond/Debenture B1 05/01/14 Food/Entertainment/Lodging
KAR Holdings, Inc. US$ 450.0 Regular Bond/Debenture B3 SGL-3 05/01/14 Diversified Industrials/Services/Paper
KAR Holdings, Inc. US$ 150.0 Regular Bond/Debenture B3 SGL-3 05/01/14 Diversified Industrials/Services/Paper
Building
Meritage Homes Corporation US$ 130.0 Regular Bond/Debenture B1 SGL-2 05/01/14 Products/Manufacturing/Homebuilding
NPC International, Inc. US$ 175.0 Regular Bond/Debenture Caa1 SGL-3 05/01/14 Food/Entertainment/Lodging
Valmont Industries, Inc. US$ 150.0 Regular Bond/Debenture Ba2 SGL-1 05/01/14 Energy/Natural Resources/Chemicals
Wyndham Worldwide Corporation US$ 250.0 Regular Bond/Debenture Ba2 05/01/14 Food/Entertainment/Lodging
XM Satellite Radio Inc. US$ 5.26 Regular Bond/Debenture Ca 05/01/14 Telecom/Tech./Media
American Airlines, Inc. US$ 16.096 Equipment Trust Caa1 05/07/14 Auto/Transportation/Defence
American Airlines, Inc. US$ 18.482 Equipment Trust Caa1 05/07/14 Auto/Transportation/Defence
Avis Budget Car Rental, LLC US$ 375.0 Regular Bond/Debenture Caa1 SGL-3 05/15/14 Auto/Transportation/Defence
Avis Budget Car Rental, LLC US$ 250.0 Regular Bond/Debenture Caa1 SGL-3 05/15/14 Auto/Transportation/Defence
Building
Centex Corporation US$ 350.0 Regular Bond/Debenture B1 05/15/14 Products/Manufacturing/Homebuilding
CMP Susquehanna Corp US$ 12.13 Regular Bond/Debenture Ca SGL-4 05/15/14 Telecom/Tech./Media
US$ 500.0 Conv./Exch. Building
D.R. Horton, Inc. Bond/Debenture Ba3 SGL-2 05/15/14 Products/Manufacturing/Homebuilding
iPayment Inc. US$ 191.3 Regular Bond/Debenture Caa1 SGL-3 05/15/14 Telecom/Tech./Media
MGM MIRAGE US$ 650.0 Regular Bond/Debenture B1 SGL-4 05/15/14 Food/Entertainment/Lodging
US$ 178.722 Regular Building
Unifi, Inc. Bond/Debenture Caa2 05/15/14 Products/Manufacturing/Homebuilding
US$ 862.5 Conv./Exch.
United States Steel Corporation Bond/Debenture Ba3 SGL-1 05/15/14 Energy/Natural Resources/Chemicals
Ameristar Casinos, Inc. US$ 650.0 Regular Bond/Debenture B2 SGL-2 06/01/14 Food/Entertainment/Lodging
Berry Petroleum Company US$ 450.0 Regular Bond/Debenture B2 SGL-3 06/01/14 Energy/Natural Resources/Chemicals
Brinker International, Inc. US$ 290.0 Regular Bond/Debenture Ba2 06/01/14 Food/Entertainment/Lodging
Cellu Tissue Holdings, Inc US$ 255.0 Regular Bond/Debenture B2 SGL-3 06/01/14 Diversified Industrials/Services/Paper
US$ 460.0 Conv./Exch.
Covanta Holding Corporation Bond/Debenture Ba3 SGL-1 06/01/14 Utilities
Education Management LLC US$ 375.0 Regular Bond/Debenture B2 SGL-1 06/01/14 Diversified Industrials/Services/Paper
Hanger Orthopedic Group, Inc. US$ 175.0 Regular Bond/Debenture B3 06/01/14 Healthcare/Healthcare Equipment
SESI, L.L.C. US$ 300.0 Regular Bond/Debenture B1 06/01/14 Energy/Natural Resources/Chemicals

American Casino & Ent. Properties US$ 375.0 Regular Bond/Debenture B3 SGL-2 06/15/14 Food/Entertainment/Lodging

85 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
LLC

US$ 32.775 Regular


Appleton Papers Inc. Bond/Debenture Caa1 SGL-4 06/15/14 Diversified Industrials/Services/Paper
Boston Scientific Corporation US$ 600.0 Regular Bond/Debenture Ba1 SGL-2 06/15/14 Healthcare/Healthcare Equipment
Cadmus Communications US$ 32.225 Regular
Corporation Bond/Debenture Caa1 06/15/14 Telecom/Tech./Media
Chesapeake Energy Corporation US$ 300.0 Regular Bond/Debenture Ba3 SGL-3 06/15/14 Energy/Natural Resources/Chemicals
El Paso Corporation US$ 375.0 Regular Bond/Debenture Ba3 SGL-3 06/15/14 Energy/Natural Resources/Chemicals
US$ 329.60 Regular
HealthSouth Corporation Bond/Debenture Caa1 SGL-2 06/15/14 Healthcare/Healthcare Equipment
IASIS Healthcare LLC US$ 475.0 Regular Bond/Debenture B3 06/15/14 Healthcare/Healthcare Equipment
Building
Interline Brands, Inc. US$ 150.7 Regular Bond/Debenture B3 06/15/14 Products/Manufacturing/Homebuilding
Jacobs Entertainment, Inc. US$ 210.0 Regular Bond/Debenture B3 SGL-3 06/15/14 Food/Entertainment/Lodging
Momentive Performance Materials
Inc. US$ 200.0 Regular Bond/Debenture B3 SGL-3 06/15/14 Energy/Natural Resources/Chemicals
US$ 217.38 Regular
NMH Holdings, Inc. Bond/Debenture Caa2 SGL-2 06/15/14 Healthcare/Healthcare Equipment
US$ 284.416 Regular
Pokagon Gaming Authority Bond/Debenture B2 06/15/14 Food/Entertainment/Lodging
RRI Energy, Inc. US$ 575.0 Regular Bond/Debenture B2 SGL-1 06/15/14 Utilities
US$ 270.65 Regular
Sanmina-SCI Corporation Bond/Debenture B1 SGL-2 06/15/14 Telecom/Tech./Media
US$ 273.945 Regular
Sealy Mattress Company Bond/Debenture Caa1 SGL-3 06/15/14 Consumer Products
W&T Offshore, Inc. US$ 450.0 Regular Bond/Debenture Caa1 SGL-3 06/15/14 Energy/Natural Resources/Chemicals
WCA Waste Corporation US$ 150.0 Regular Bond/Debenture B3 SGL-3 06/15/14 Diversified Industrials/Services/Paper
Wendy's International Inc. US$ 225.0 Regular Bond/Debenture Caa1 06/15/14 Food/Entertainment/Lodging
Western Refining, Inc. US$ 275.0 Regular Bond/Debenture B3 SGL-3 06/15/14 Energy/Natural Resources/Chemicals
National MENTOR Holdings, Inc. US$ 180.0 Regular Bond/Debenture Caa1 07/01/14 Healthcare/Healthcare Equipment
Tenet Healthcare Corporation US$ 99.99 Regular Bond/Debenture Caa2 SGL-2 07/01/14 Healthcare/Healthcare Equipment
Univision Communications, Inc. US$ 545.0 Regular Bond/Debenture B2 SGL-3 07/01/14 Telecom/Tech./Media
Verso Paper Holdings LLC US$ 325.0 Regular Bond/Debenture Ba2 SGL-2 07/01/14 Diversified Industrials/Services/Paper
US$ 11.60785 Enhanced Equipment
Continental Airlines, Inc. Trust B2 SGL-3 07/02/14 Auto/Transportation/Defence
US$ 11.60785 Enhanced Equipment
Continental Airlines, Inc. Trust Ba2 SGL-3 07/02/14 Auto/Transportation/Defence
United Air Lines, Inc. US$ 87.48392 Pass-Through B2 SGL-3 07/02/14 Auto/Transportation/Defence
US$ 115.0 Conv./Exch.
Alliance One International, Inc. Bond/Debenture Caa1 SGL-3 07/15/14 Consumer Products
Casella Waste Systems, Inc. US$ 180.0 Regular Bond/Debenture B2 07/15/14 Diversified Industrials/Services/Paper
GulfMark Offshore, Inc. US$ 160.0 Regular Bond/Debenture B1 07/15/14 Energy/Natural Resources/Chemicals
International Coal Group, Inc. US$ 175.0 Regular Bond/Debenture Caa3 SGL-4 07/15/14 Energy/Natural Resources/Chemicals
US$ 250.0 Conv./Exch.
Leap Wireless International, Inc. Bond/Debenture Caa1 SGL-1 07/15/14 Telecom/Tech./Media

May Department Stores Company US$ 496.48 Regular Ba2 07/15/14 Retail/Apparel

86 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
(The) Bond/Debenture

McClatchy Company (The) US$ 24.2 Regular Bond/Debenture Caa1 SGL-4 07/15/14 Telecom/Tech./Media
MTR Gaming Group, Inc. US$ 260.0 Regular Bond/Debenture B2 07/15/14 Food/Entertainment/Lodging
Pride International, Inc. US$ 500.0 Regular Bond/Debenture Ba1 SGL-1 07/15/14 Energy/Natural Resources/Chemicals
Smithfield Foods, Inc. US$ 850.0 Regular Bond/Debenture Ba3 SGL-3 07/15/14 Food/Entertainment/Lodging
Stewart & Stevenson LLC US$ 150.0 Regular Bond/Debenture B3 SGL-3 07/15/14 Energy/Natural Resources/Chemicals
US$ 99.52 Conv./Exch.
Stewart Enterprises, Inc. Bond/Debenture Ba3 07/15/14 Diversified Industrials/Services/Paper
TransDigm Inc. US$ 425.0 Regular Bond/Debenture B3 07/15/14 Auto/Transportation/Defence
TransDigm Inc. US$ 575.0 Regular Bond/Debenture B3 07/15/14 Auto/Transportation/Defence
American Airlines, Inc. US$ 44.00565 Equipment Trust Caa2 07/30/14 Auto/Transportation/Defence
Basic Energy Services, Inc. US$ 225.0 Regular Bond/Debenture Ba3 08/01/14 Energy/Natural Resources/Chemicals
Building Materials Corporation of Building
America US$ 250.0 Regular Bond/Debenture B3 08/01/14 Products/Manufacturing/Homebuilding
US$ 298.29 Regular
Foundation PA Coal Company Bond/Debenture Ba3 08/01/14 Energy/Natural Resources/Chemicals
Intertape Polymer US Inc. US$ 125.0 Regular Bond/Debenture Caa1 08/01/14 Diversified Industrials/Services/Paper
Parallel Petroleum Corp US$ 150.0 Regular Bond/Debenture Caa2 SGL-3 08/01/14 Energy/Natural Resources/Chemicals
Penhall International, Corp. US$ 175.0 Regular Bond/Debenture Caa2 08/01/14 Auto/Transportation/Defence
PetroHawk Energy Corporation US$ 600.0 Regular Bond/Debenture B3 SGL-3 08/01/14 Energy/Natural Resources/Chemicals
Phibro Animal Health Corporation US$ 80.0 Regular Bond/Debenture Caa1 08/01/14 Healthcare/Healthcare Equipment
US$ 196.27 Regular Building
RBS Global, Inc. Bond/Debenture Caa2 SGL-3 08/01/14 Products/Manufacturing/Homebuilding
Building
RBS Global, Inc. US$ 795.0 Regular Bond/Debenture Caa2 SGL-3 08/01/14 Products/Manufacturing/Homebuilding
Building
USG Corporation US$ 300.0 Regular Bond/Debenture B1 SGL-3 08/01/14 Products/Manufacturing/Homebuilding
Verso Paper Holdings LLC US$ 350.0 Regular Bond/Debenture B2 SGL-2 08/01/14 Diversified Industrials/Services/Paper
Verso Paper Holdings LLC US$ 250.0 Regular Bond/Debenture B2 SGL-2 08/01/14 Diversified Industrials/Services/Paper
US$ 190.61902 Enhanced
Delta Air Lines, Inc. Equipment Trust Ba3 SGL-2 08/10/14 Auto/Transportation/Defence
Barrington Broadcasting Group LLC US$ 57.2 Regular Bond/Debenture Caa3 SGL-3 08/15/14 Telecom/Tech./Media
Century Aluminum Company US$ 250.0 Regular Bond/Debenture Ca 08/15/14 Energy/Natural Resources/Chemicals
Chesapeake Energy Corporation US$ 300.0 Regular Bond/Debenture Ba3 SGL-3 08/15/14 Energy/Natural Resources/Chemicals
Hertz Corporation (The) (Old) US$ 21.08 Regular Bond/Debenture B3 08/15/14 Auto/Transportation/Defence
Innophos, Inc. US$ 190.0 Regular Bond/Debenture Ba3 08/15/14 Energy/Natural Resources/Chemicals
US$ 658.12 Regular
Intelsat Corporation Bond/Debenture B3 08/15/14 Telecom/Tech./Media
Marquee Holdings, Inc. US$ 304.0 Regular Bond/Debenture Caa1 SGL-1 08/15/14 Food/Entertainment/Lodging
US$ 219.195 Regular
Mohegan Tribal Gaming Authority Bond/Debenture Caa2 08/15/14 Food/Entertainment/Lodging
Reichhold Industries, Inc. US$ 195.0 Regular Bond/Debenture Caa2 08/15/14 Energy/Natural Resources/Chemicals
Stanadyne Corporation (Kohlberg
Ownership) US$ 160.0 Regular Bond/Debenture Caa1 08/15/14 Auto/Transportation/Defence
US Oncology, Inc. US$ 272.815 Regular B3 08/15/14 Healthcare/Healthcare Equipment

87 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
Bond/Debenture

Watson Pharmaceuticals, Inc. US$ 450.0 Regular Bond/Debenture Ba1 SGL-2 08/15/14 Healthcare/Healthcare Equipment
Building
CPM Holdings, Inc. US$ 200.0 Regular Bond/Debenture B2 09/01/14 Products/Manufacturing/Homebuilding
US$ 2500.0 Regular Building
HD Supply, Inc. Bond/Debenture Caa2 SGL-2 09/01/14 Products/Manufacturing/Homebuilding
Building
Lennar Corporation US$ 250.0 Regular Bond/Debenture B3 SGL-2 09/01/14 Products/Manufacturing/Homebuilding
Mashantucket (Western) Pequot US$ 0.85154 Regular
Tribe, CT Bond/Debenture Caa3 09/01/14 Food/Entertainment/Lodging
Newfield Exploration Company US$ 325.0 Regular Bond/Debenture Ba3 09/01/14 Energy/Natural Resources/Chemicals
Rainbow National Services LLC US$ 325.0 Regular Bond/Debenture B1 SGL-1 09/01/14 Telecom/Tech./Media
Travelport LLC US$ 438.0 Regular Bond/Debenture B3 SGL-2 09/01/14 Telecom/Tech./Media
Travelport LLC US$ 143.0 Regular Bond/Debenture B3 SGL-2 09/01/14 Telecom/Tech./Media
Berry Plastics Corporation US$ 225.0 Regular Bond/Debenture Caa1 SGL-3 09/15/14 Diversified Industrials/Services/Paper
Berry Plastics Corporation US$ 525.0 Regular Bond/Debenture Caa1 SGL-3 09/15/14 Diversified Industrials/Services/Paper
Berry Plastics Corporation US$ 250.0 Regular Bond/Debenture Caa1 SGL-3 09/15/14 Diversified Industrials/Services/Paper
Charter Communications Operating, US$ 545.896 Regular
LLC Bond/Debenture B1 09/15/14 Telecom/Tech./Media
Clear Channel Communications, Inc. US$ 541.46 Regular
(Old) Bond/Debenture Ca 09/15/14 Telecom/Tech./Media
Building
D.R. Horton, Inc. US$ 250.0 Regular Bond/Debenture Ba3 SGL-2 09/15/14 Products/Manufacturing/Homebuilding
Delta Air Lines, Inc. US$ 750.0 Regular Bond/Debenture Ba2 SGL-2 09/15/14 Auto/Transportation/Defence
US$ 122.05 Regular
Fisher Communications, Inc. Bond/Debenture B2 SGL-2 09/15/14 Telecom/Tech./Media
Midcontinent Express Pipeline LLC US$ 350.0 Regular Bond/Debenture Ba1 09/15/14 Energy/Natural Resources/Chemicals
Turning Stone Resort Casino LLC US$ 160.0 Regular Bond/Debenture B1 09/15/14 Food/Entertainment/Lodging
Waterford Gaming LLC US$ 98.88 Regular Bond/Debenture Caa2 09/15/14 Food/Entertainment/Lodging
American Airlines, Inc. US$ 67.10693 Equipment Trust Caa2 09/29/14 Auto/Transportation/Defence
Blockbuster Inc. US$ 675.0 Regular Bond/Debenture B1 SGL-3 10/01/14 Retail/Apparel
Deluxe Corporation US$ 263.5 Regular Bond/Debenture Ba2 10/01/14 Telecom/Tech./Media
US$ 1000.0 Regular
DIRECTV Holdings LLC Bond/Debenture Ba2 SGL-1 10/01/14 Telecom/Tech./Media
US$ 998.10 Regular
Dish DBS Corporation Bond/Debenture Ba3 10/01/14 Telecom/Tech./Media
First Data Corporation (Old) US$ 3.81 Regular Bond/Debenture Caa2 10/01/14 Telecom/Tech./Media
FleetPride Corporation US$ 150.0 Regular Bond/Debenture Caa1 10/01/14 Auto/Transportation/Defence
Qwest Corporation US$ 600.0 Regular Bond/Debenture Ba1 10/01/14 Telecom/Tech./Media
Service Corporation International US$ 245.0 Regular Bond/Debenture B1 SGL-2 10/01/14 Diversified Industrials/Services/Paper
Stream Global Services, Inc. US$ 200.0 Regular Bond/Debenture B1 SGL-2 10/01/14 Telecom/Tech./Media
USEC Inc. US$ 575.0 Regular Bond/Debenture Caa1 10/01/14 Energy/Natural Resources/Chemicals
Vanguard Health Holding Company
II, LLC US$ 575.0 Regular Bond/Debenture Caa1 10/01/14 Healthcare/Healthcare Equipment
Alon Refining Krotz Springs, Inc. US$ 216.5 Regular Bond/Debenture B2 10/15/14 Energy/Natural Resources/Chemicals

88 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
US$ 228.146 Regular
Boise Cascade, LLC Bond/Debenture Caa1 SGL-3 10/15/14 Diversified Industrials/Services/Paper
Drummond Company, Inc. US$ 250.0 Regular Bond/Debenture B1 10/15/14 Energy/Natural Resources/Chemicals
Georgia Gulf Corporation US$ 13.20 Regular Bond/Debenture Caa1 10/15/14 Energy/Natural Resources/Chemicals
Graham Packaging Company, L.P. US$ 375.0 Regular Bond/Debenture Caa1 SGL-2 10/15/14 Diversified Industrials/Services/Paper
Starwood Hotels & Resorts
Worldwide Inc. US$ 500.0 Regular Bond/Debenture Ba1 SGL-3 10/15/14 Food/Entertainment/Lodging
US$ 384.962 Regular
Unisys Corporation Bond/Debenture Ba3 SGL-2 10/15/14 Telecom/Tech./Media
West Corporation US$ 650.0 Regular Bond/Debenture Caa1 SGL-2 10/15/14 Diversified Industrials/Services/Paper
Apria Healthcare Group Inc. US$ 317.5 Regular Bond/Debenture B1 11/01/14 Healthcare/Healthcare Equipment
Apria Healthcare Group Inc. US$ 700.0 Regular Bond/Debenture Ba2 11/01/14 Healthcare/Healthcare Equipment
US$ 179.09 Regular
Chiquita Brands International, Inc. Bond/Debenture Caa2 11/01/14 Food/Entertainment/Lodging
US$ 1100.0 Regular
Cricket Communications, Inc. Bond/Debenture B3 11/01/14 Telecom/Tech./Media
US$ 370.065 Regular
Dresser-Rand Group Inc. Bond/Debenture B1 SGL-3 11/01/14 Energy/Natural Resources/Chemicals
Hawk Corporation US$ 87.10 Regular Bond/Debenture B3 11/01/14 Auto/Transportation/Defence
US$ 328.25 Regular Building
Headwaters Incorporated Bond/Debenture B2 SGL-3 11/01/14 Products/Manufacturing/Homebuilding
US$ 168.90 Regular
Knight Ridder, Inc. Bond/Debenture Caa3 11/01/14 Telecom/Tech./Media
US$ 1250.0 Regular
Level 3 Financing, Inc. Bond/Debenture Caa1 11/01/14 Telecom/Tech./Media
Limited Brands, Inc. US$ 500.0 Regular Bond/Debenture Ba3 11/01/14 Retail/Apparel
MarkWest Energy Partners, L.P. US$ 150.0 Regular Bond/Debenture B2 SGL-3 11/01/14 Energy/Natural Resources/Chemicals
MarkWest Energy Partners, L.P. US$ 225.0 Regular Bond/Debenture B2 SGL-3 11/01/14 Energy/Natural Resources/Chemicals
US$ 548.69 Regular
MetroPCS Wireless, Inc. Bond/Debenture B3 SGL-1 11/01/14 Telecom/Tech./Media
US$ 1400.0 Regular
MetroPCS Wireless, Inc. Bond/Debenture B3 SGL-1 11/01/14 Telecom/Tech./Media
Michaels Stores, Inc. US$ 750.0 Regular Bond/Debenture Caa2 SGL-2 11/01/14 Retail/Apparel
US$ 101.876 Regular
Ryerson Inc. Bond/Debenture Caa1 SGL-3 11/01/14 Energy/Natural Resources/Chemicals
AGY Holding Corp. US$ 175.0 Regular Bond/Debenture B3 11/15/14 Energy/Natural Resources/Chemicals
DJO Finance LLC US$ 200.0 Regular Bond/Debenture Caa1 SGL-3 11/15/14 Healthcare/Healthcare Equipment
DJO Finance LLC US$ 575.0 Regular Bond/Debenture Caa1 SGL-3 11/15/14 Healthcare/Healthcare Equipment
US$ 302.172 Regular
Flextronics International Ltd. Bond/Debenture Ba2 SGL-1 11/15/14 Telecom/Tech./Media
US$ 180.70 Regular
Gaylord Entertainment Company Bond/Debenture Caa2 SGL-2 11/15/14 Food/Entertainment/Lodging
US$ 998.99 Regular
HCA, Inc. Bond/Debenture B2 SGL-2 11/15/14 Healthcare/Healthcare Equipment
Hexion Specialty Chemicals Inc. US$ 533.0 Regular Bond/Debenture Caa1 SGL-3 11/15/14 Energy/Natural Resources/Chemicals
Hexion Specialty Chemicals Inc. US$ 120.0 Regular Bond/Debenture Caa1 SGL-3 11/15/14 Energy/Natural Resources/Chemicals
Huntsman International LLC US$ 347.0 Regular Bond/Debenture B3 11/15/14 Energy/Natural Resources/Chemicals

89 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
Interpublic Group of Companies, Inc.
(The) US$ 350.0 Regular Bond/Debenture Ba3 SGL-1 11/15/14 Telecom/Tech./Media
Jones Apparel Group, Inc. US$ 250.0 Regular Bond/Debenture Ba3 SGL-2 11/15/14 Retail/Apparel
Koppers Holdings Inc. US$ 203.0 Regular Bond/Debenture B2 11/15/14 Energy/Natural Resources/Chemicals
McMoRan Exploration Co. US$ 300.0 Regular Bond/Debenture Caa1 SGL-3 11/15/14 Energy/Natural Resources/Chemicals
MediMedia USA, Inc. US$ 150.0 Regular Bond/Debenture Caa1 11/15/14 Telecom/Tech./Media
NCO Group, Inc. US$ 200.0 Regular Bond/Debenture Caa1 SGL-3 11/15/14 Diversified Industrials/Services/Paper
Neenah Paper Inc US$ 225.0 Regular Bond/Debenture B2 SGL-3 11/15/14 Diversified Industrials/Services/Paper
Noranda Aluminum Holding US$ 239.10 Regular
Corporation Bond/Debenture Caa3 SGL-3 11/15/14 Energy/Natural Resources/Chemicals
US$ 188.77 Regular
Park-Ohio Industries Incorporated Bond/Debenture Caa2 11/15/14 Auto/Transportation/Defence
US$ 199.95 Regular
Rockwood Specialties Group, Inc. Bond/Debenture B3 11/15/14 Energy/Natural Resources/Chemicals
Sally Holdings, LLC US$ 430.0 Regular Bond/Debenture B3 SGL-2 11/15/14 Retail/Apparel
SUPERVALU INC. US$ 500.0 Regular Bond/Debenture Ba3 11/15/14 Retail/Apparel
Tenneco Inc. US$ 500.0 Regular Bond/Debenture Caa2 11/15/14 Auto/Transportation/Defence
US$ 982.70 Regular
TXU Corp. (Old) Bond/Debenture Caa3 11/15/14 Utilities
Affinia Group Inc. US$ 267.0 Regular Bond/Debenture B3 SGL-2 11/30/14 Auto/Transportation/Defence
Bradken, Inc. US$ 105.0 Regular Bond/Debenture Caa1 12/01/14 Energy/Natural Resources/Chemicals
Hornbeck Offshore Services, Inc. US$ 300.0 Regular Bond/Debenture Ba3 12/01/14 Energy/Natural Resources/Chemicals
US$ 424.75 Regular
Key Energy Services, Inc. Bond/Debenture B1 SGL-2 12/01/14 Energy/Natural Resources/Chemicals
Momentive Performance Materials
Inc. US$ 192.61 Regular Bond/Debenture Caa2 SGL-3 12/01/14 Energy/Natural Resources/Chemicals
Momentive Performance Materials US$ 716.60 Regular
Inc. Bond/Debenture Caa2 SGL-3 12/01/14 Energy/Natural Resources/Chemicals
Owens-Brockway Glass Container,
Inc. US$ 400.0 Regular Bond/Debenture Ba3 12/01/14 Diversified Industrials/Services/Paper
RSC Equipment Rental, Inc. US$ 620.0 Regular Bond/Debenture Caa2 SGL-3 12/01/14 Auto/Transportation/Defence
Wynn Las Vegas, LLC US$ 1233.95 First Mortgage Bonds Ba3 12/01/14 Food/Entertainment/Lodging
Wynn Las Vegas, LLC US$ 400.0 First Mortgage Bonds Ba3 12/01/14 Food/Entertainment/Lodging
Bio-Rad Laboratories, Inc. US$ 200.0 Regular Bond/Debenture Ba3 12/15/14 Healthcare/Healthcare Equipment
Constellation Brands, Inc. US$ 500.0 Regular Bond/Debenture Ba3 SGL-2 12/15/14 Food/Entertainment/Lodging
US$ 1409.43 Regular
Freescale Semiconductor, Inc. Bond/Debenture Caa2 SGL-3 12/15/14 Telecom/Tech./Media
US$ 542.96 Regular
Freescale Semiconductor, Inc. Bond/Debenture Caa2 SGL-3 12/15/14 Telecom/Tech./Media
US$ 189.79 Regular
Freescale Semiconductor, Inc. Bond/Debenture Caa2 SGL-3 12/15/14 Telecom/Tech./Media
US$ 493.68 Regular
Hanesbrands, Inc. Bond/Debenture B2 SGL-2 12/15/14 Retail/Apparel
HCA, Inc. (Oldco) US$ 121.11 Regular Bond/Debenture Caa1 12/15/14 Healthcare/Healthcare Equipment
US$ 424.85 Regular
Inergy, L.P. Bond/Debenture B1 SGL-3 12/15/14 Energy/Natural Resources/Chemicals

90 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

BOND MATURITY
ISSUER NAME DEBT DESCRIPTION RATING SGL DATE INDUSTRY
Building
K. Hovnanian Enterprises, Inc. US$ 90.75 Regular Bond/Debenture Caa2 12/15/14 Products/Manufacturing/Homebuilding
Pep Boys -- Manny, Moe & Jack US$ 157.565 Regular
(The) Bond/Debenture Caa1 12/15/14 Retail/Apparel
US$ 279.073 Regular
RRI Energy, Inc. Bond/Debenture B1 SGL-1 12/15/14 Utilities
US$ 268.75 Regular
Simmons Company Bond/Debenture Ca 12/15/14 Consumer Products
SPX Corporation US$ 500.0 Regular Bond/Debenture Ba2 SGL-1 12/15/14 Auto/Transportation/Defence
Stone Energy Corporation US$ 200.0 Regular Bond/Debenture Caa1 SGL-3 12/15/14 Energy/Natural Resources/Chemicals
US$ 257.92 Regular
WMG Holdings Corp. Bond/Debenture B1 SGL-2 12/15/14 Telecom/Tech./Media
US$ 1700.0 Regular
NewPage Corporation Bond/Debenture B2 SGL-3 12/31/14 Diversified Industrials/Services/Paper

91 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

Moody’s Related Research


Special Comments:
» U.S. Non-Financial Issuers’ Debt Maturities Soar in 2012, September 2009 (119781)
» Liquidity Challenges Remain For Non-Financial Companies in the Americas, July 2009 (118789)
» Refunding Risk and Needs for U.S. Investment-Grade Corporate Bond Issuers, 2009-2011,
March 2009 (115107)
» Refunding Risk and Needs for U.S. Speculative Grade Corporate Issuers, 2009-2011, February
2009 (114653)
» Refunding Needs and Risks for U.S. Speculative Grade Corporate Issuers, 2008-2010, February
2008 (107627)
» Refunding Risk and Needs for U.S. Speculative Grade Corporate Issuers, 2007-2009, January
2007 (102048)
» December Default Report, January 2010 (122433)
» Speculative Grade Liquidity Monitor, January 2010 (122470)
» Speculative Grade Liquidity Ratings: Component Scores Provide Liquidity Insight, December
2008 (111515)
» Leveraged Finance Industry Updates: Cable, Broadcasting and Theatre Operations, December
2009 (121857)
» Leveraged Finance Industry Updates: Food, Supermarkets, and Restaurants, December 2009
(121633)
» Cable and Telecommunications Industries: Converging, but Significant Differences in Revenue
Sources Call for Separate Rating Methodologies, December 2009 (121830)
» Service Sector Ratings Hold Up Well in Recession Though Cyclical Subsectors Feel Some
Pressure, December 2009 (121631)
» Moody’s B3 Negative and Lower Corporate Rating List, December 2009 (121745)
» Moody’s Covenant Newsletter, December 2009 (121400)

92 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

Industry Outlooks:
» Six-Month Update: North American Manufacturers Should Make Modest Progress, December
2009 (122184)
» Homebuilding Industry: Stable is as Stable Does, December 2009 (121711)
» U.S. Homebuilding Industry Shows Signs of Stability, December 2009 (121805)
» U.S. Steel Industry Faces Long Road Back, December 2009 (121800)
» Consumer Durables Industry Shows Signs of Stability, December 2009 (121849)
Rating Methodologies:
» Speculative Grade Liquidity Ratings, September 2002 (76003)
» Speculative Grade Liquidity Ratings: An In-Depth Discussion Of The Key Credit Considerations,
May 2005 (92712)
To access any of these reports, click on the entry above. Note that these references are current as of the date of publication of
this report and that more recent reports may be available. All research may not be available to all clients.

93 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014
GLOBAL CORPORATE FINANCE

» contacts continued from page 1


Report Number: 122627

Analyst Contacts:

NEW YORK 1.212.553.1653 Authors Editor


Kevin Cassidy Jeff Pruzan
Adam McLaren 212.553.2753 Tiina Siilaberg
Associate Analyst
Adam.McLaren@moodys.com
Production Associates
Steven Oman 212.553.1673 Sarah Warburton
Senior Vice President Sylviane Grant
Steven.Oman@moodys.com
Brian Oak 212.553.2946
Team Managing Director
Brian.Oak@moodys.com
Tom Marshella 212.553.4668
Group Managing Director
Tom.Marshella@moodys.com
Mark Gray 212.553. 7783
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rating processes. Information regarding certain affiliations that may exist between directors of MCO and rated entities, and between
entities who hold ratings from MIS and have also publicly reported to the SEC an ownership interest in MCO of more than 5%, is
posted annually at www.moodys.com under the heading “Shareholder Relations — Corporate Governance — Director and
Shareholder Affiliation Policy.”

94 FEBRUARY 2010 SPECIAL COMMENT: REFUNDING RISK AND NEEDS FOR U.S. SPECULATIVE-GRADE CORPORATE ISSUERS, 2010-2014