Information systems require awareness of risks and a good understanding of vulnerabilities and their exploitations. In this paper, we propose a novel approach for the systematic assessment and analysis of confidentiality risks caused by disclosure of operational and functional information. The approach is modeldriven integrating information assets and the IT infrastructure that they rely on for distributed systems. IT infrastructures enable one to analyse risk propagation possibilities and calculate the impact for confidentiality incidents. Furthermore, depending on the monetary value of an information asset, we bridge the technical and business-oriented views of information security.