The link stats are a set of counters maintained by the adapter.

DETAIL SENSE DATA
Here below is a cut from the full error log sense template. Click here to see full error template.

AIX Version 5.3 and below

RRRR RRRR EEEE EEEE TTCC OOOO NNNN NNNN NNNN NNNN IIII IIII MMMM MMMM LLLL LLLL
AAAA AAAA BBBB BBBB DDDD DDDD FFFF FFFF GGGG GGGG HHHH HHHH JJJJ JJJJ KKKK KKKK
PPPP PPPP SS%% UUUU VVVV VVVV WWWW WWWW XXXX XXXX YYYY YYYY ZZZZ ZZZZ 2222 2222
3333 3333 4444 4444 QQQQ QQQQ QQQQ QQQQ QQQQ QQQQ QQQQ QQQQ QQQQ QQQQ QQQQ QQQQ
....

AIX 6 and above:

hhhh hhhhh EEEE EEEE TTCC vvvv NNNN NNNN NNNN NNNN IIII IIII MMMM MMMM LLLL LLLL
AAAA AAAA BBBB BBBB DDDD DDDD FFFF FFFF GGGG GGGG HHHH HHHH JJJJ JJJJ KKKK KKKK
PPPP PPPP SS%% UUUU VVVV VVVV WWWW WWWW XXXX XXXX YYYY YYYY ZZZZ ZZZZ 2222 2222
3333 3333 4444 4444 5555 5555 5555 RRRR 7777 7777 7777 7777 RRRR RRRR RRRR RRRR
OOOO RRRR....
..skip 5 rows RRRR Reserved for future use.
QQQQ QQQQ next 22 rows

Counter	Description	What it means
AAAA AAAA	Link failure error count	This may indicate a problems with the cable,connection or the transceivers
BBBB BBBB	Loss of synchronization error count	This may indicate a problem with the cable,connection or the transceivers
DDDD DDDD	Loss of signal error count	This may indicate a problem with the with the cable,connection or the transceiverse
FFFF FFFF	Primitive sequence error count	This may indicate a problem with with the cable,connection or the transceivers
GGGG GGGG	Invalid transmission Word error count	This may indicate a problem with the cable,connection or the transceivers
HHHH HHHH	CRY error count.	CRC errors mean dropped frames, This may indicate a problem with with the cable,connection or the transceivers
JJJJ JJJJ	Primitive Sequence Event Time-out count	-
KKKK KKKK	Elastic Buffer overrun error count	-This indicates an issue with the synchronization of the source transmitter and the receiver.
PPPP PPPP	Arbitration (FC-AL)Time-Out count	-

The counters above indicates an issue with the link between the adapter and the next port.
Run the diagnostics wrap test to eliminate the adapter hardware.
If the diagnostics wrap test passes, the problem is with the cable or the transceiver on the device at the other end of the cable (switch if fabric or end device is direct connection)