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(1) All of our net par outstanding to this credit is second-to-pay obligations to Syncora ($120.5 million) and FGIC ($70.5 million). 

The following table represents our 10 lar gest structured finance single risks by net par outstanding (together representing 16.3% of financial guaranty’ s aggregate net par outstanding) as of December 31, 2012. We have entered into each of these transactions through the issuance of CDS: 

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(1) In addition, as of December 31, 2012, we have insured an additional five Static Synthetic Investment-Grade Corporate CDOs, each with an aggregate net par outstanding of $450 million. As of December 31, 2012, the internal credit rating for each of these additional transactions is AAA. 

