Chart 5.
The title is, "Forty-Seven Percent of U.S. Speculative-Grade Bonds and Bank Debt Maturing in 2003-2004 Are Rated B1 or Lower."

A pie chart showing the ratings of bonds. Fifty-three percent are rated Ba1 to Ba3; 36 percent are rated B1 to B3; and 11 percent are rated Caa1 or lower.