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Which of the following statements is incorrect, given the following one-year rating transition matrix?
A
The probability that a AAA-rated bond defaults within one year is 0.00%
B
The probability that a AAA-rated bond migrates to AA rating within one year is 7.37%
C
The probability that a AAA-rated bond remains at AAA rating within one year is 87.44%
D
The probability that a AAA-rated bond is not rated after one year is 4.59%
