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Figure 1. Data for the Alcoa Corporation from January 2005 through February 2011. Upper left: CDS spreads for seven different maturities
Table 1. Estimation results for the mean vectors of the survival function
Table 2. Estimated unconditional matrix of transition probabilities
Figure 3. Absolute (bold line) and relative ratings (dotted line) for four firms from January 2005 through February 2011
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