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Based on the table, what is the probability that a Baa rated company gets upgraded to Aa in one year? Rating at year end Ba

Based on the table, what is the probability that a Baa rated company gets upgraded to Aa in one year?

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Rating at year end Ba B 90.65 8.67 0.65 0.00 0.03 0.00 0.95 89.44 8.95 0.54 0.07 0.02 0.06 2.56 90.73 5.86 0.58 0.11 0.04 0.18 4.20 90.27 4.17 0.78 Ba 0.01 0.06 0.37 6.17 83.45 8.06 B 0.01 0.03 0.12 0.34 5.08 82.90 Caa 0.00 0.02 0.02 0.12 0.42 9.74 Ca-C 0.00 0.00 0.07 0.00 0.43 2.37 Default 0.00 0.00 0.00 0.00 0.00 0.00 Initial Rating Aaa Aa Aa A A Caa 0.00 0.01 0.03 0.16 0.65 6.69 71.07 10.59 0.00

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