TENANT

Standard
& Poors

Probability of
Default
(5 years)

Moodys

Probability of
Default
(5 years)

7-Eleven

A

0.60%

Baa3

4.00%

Advance Auto

BB+

7.00%

NR

Albertsons

NR

B1

25.00%

AT&T

A

0.60%

A2

0.60%

AutoZone

BBB+

1.50%

Baa2

2.00%

Bank of America

AA

0.20%

Aa1

0.15%

Bank One

NR

Aa2

0.20%

Bed Bath & Beyond

BBB

2.00%

NR

Best Buy

BBB

2.00%

Baa2

2.00%

Brinker International

BBB-

4.00%

Baa3

4.00%

Chevron Corp

AA

0.20%

Aa2

0.20%

Citibank

AA

0.20%

Aa1

0.15%

Costco

A

0.60%

A2

0.60%

CVS

BBB+

1.50%

Baa2

2.00%

Dollar General

B

31.00%

Caa1

60.00%

Exxon Mobil

AAA

0.15%

Aaa

0.15%

Home Depot

BBB+

1.50%

Baa1

1.50%

Jack in the Box

BB-

19.00%

NR

J.P. Morgan Chase & Co.

AA-

0.20%

Aa2

0.20%

Kohl's Corp

BBB+

1.50%

Baa1

1.50%

Kroger

BBB-

4.00%

Baa2

2.00%

Lowe's

A+

0.40%

A1

0.40%

McDonald's

A

0.60%

A3

0.60%

Michaels

B-

43.00%

B2

31.00%

Office Depot

BBB-

4.00%

Baa3

4.00%

Office Max

BB-

19.00%

Ba3

19.00%

Pep Boys

B-

43.00%

B2

31.00%

PetCo

B

31.00%

NR

PetsMart

BB

9.00%

NR

RBC Centura

A

0.60%

Aa3

0.20%

Rite Aid

B

31.00%

Caa2

60.00%

Ross Dress for Less

BBB

2.00%

NR

Safeway

BBB-

4.00%

Baa2

2.00%

Sherwin-Williams

A-

0.60%

A3

0.60%

Staples

BBB+

1.50%

Baa1

1.50%

SuperValu

BB-

19.00%

B1

25.00%

Target

A+

0.40%

A2

0.60%

TJ Maxx

A

0.60%

A3

0.60%

Toys R Us

B

31.00%

Caa1

60.00%

US Bancorp

AA

0.20%

Aa2

0.20%

Verizon

A

0.60%

A3

0.60%

Wachovia

AA-

0.20%

Aa3

0.20%

Walgreens

A+

0.40%

Aa3

0.20%

Wal-Mart

AA

0.20%

Aa2

0.20%

Washington Mutual

BBB

2.00%

Baa2

2.00%

Wells Fargo

AA+

0.15%

Aa1

0.15%

Whole Foods

BB+

7.00%

Ba2

9.00%

Yum! Brands Inc

 BBB-

4.00%

Baa2 

2.00%