There are three underlying assets in an investment pool. Each has a 6% chance of defaulting. If an asset does not default it pays $1. The first two assets have a 60% correlation between each other. The third asset is uncorrelated with the first 2. Financial engineers create three products. They have payoffs as follows: Product 1: Pays $1 if any of the three assets pays, 0 otherwise. Product 2: Pays $1 if any two of the three assets pays, 0 otherwise. Product 3: Pays $1 if all three of the assets pay, 0 otherwise. What is the probability of each of these assets paying off? Which of these assets can be considered "investment grade"?