Consider a portfolio of R5100 million with 3 bonds A, B and C with various probabilities of default. Assume the following: exposures are constant; recovery in case of default is zero; and, default events are independent across bonds. Following table provides the exposure and default probabilities. Calculate the Credit VAR for a condence level of 95%. Bond Exposure Default Probability A RS. 45 0.05 B Rs. 30 0.10 C RS. 25 0.20