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Credit Quality Sample Clauses

Credit QualityThe Fund has invested at least 80% of its Managed Assets in Municipal Obligations that, at the time of investment, were rated within the four highest grades (Baa or BBB or better) by at least one NRSRO or were unrated but judged to be of comparable quality by the Investment Adviser.
Credit Quality. All security issuers will be rated in the highest short-term ratings category: A-1 by Standard & Poor’s, P-1 by Moody’s or F1 by Fitch. If a security issuer does not have short-term ratings then the issuer must have minimum long-term ratings of single A by Standard & Poor’s, A2 by Moody’s, or A by Fitch. Split rated securities or issuers are permitted. Obligations that are not rated will be Approved Investments if the issuer of the obligation meets the above rating criteria.
Credit QualityAs of the Effective Date, the Fund has invested at least 80% of its Managed Assets in securities rated, at the time of investment, investment grade (Baa/BBB or better by S&P, Xxxxx’x, or Fitch) or, if they are unrated, are judged by the Sub-Adviser to be of comparable quality. The Fund has invested up to 20% of its Managed Assets in municipal securities rated below investment quality or judged by the Sub-Adviser to be of comparable quality, of which up to 10% of its Managed Assets have been rated below B-/B3 or of comparable quality.
Credit QualityThe Issuer (i) will invest at least 70% of its Managed Assets in municipal securities that, at the time of investment, were rated within the four highest grades (rated Baa3 or better by Xxxxx'x or BBB- or better by S&P or Fitch) by at least one of the NRSROs rating such securities or were unrated but judged to be of comparable quality by the Adviser; and (ii) may invest up to 30% of its Managed Assets in municipal securities that at the time of investment were rated below investment grade (rated Ba1 or lower by Xxxxx'x or BB+ or lower by S&P or Fitch) or were unrated but judged to be of comparable quality by the Adviser.
Credit QualityAs of the Effective Date, the Fund has not invested more than 20% of its Managed Assets in Municipal Securities that at the time of investment were rated Below Investment Grade or were unrated but judged to be of comparable quality by the Investment Adviser, provided that the Fund has no investments in securities that are not Municipal Securities that, at the time of investment, were rated Below Investment Grade.
Credit QualityThe Issuer (1) will invest at least 65% of its total assets in Municipal Obligations that, at the time of investment, are rated Investment Grade by at least one of the NRSROs rating such securities or were unrated but judged to be of comparable quality by the Investment Adviser; and (2) will not invest more than 20% of its total assets in Municipal Obligations that, at the time of investment, are rated Below Investment Grade or are unrated but judged to be of a comparable quality by the Investment Adviser.
Credit Quality. Unless the Fund receives the prior written consent of the Liquidity Provider (such consent to be determined in the Liquidity Provider’s good faith discretion), the Fund will, under normal market conditions, invest at least 75% of its Managed Assets in investment grade securities that, at the time of investment, are rated within the four highest grades (Baa or BBB or better) by at least one NRSRO or are unrated but judged to be of comparable quality by the Investment Adviser; provided, however, that the Fund may invest up to 100% of its Managed Assets in securities issued by money market funds that invest exclusively in Eligible Assets.
Credit Quality. Unless the Fund receives the prior written consent of the Liquidity Provider (such consent to be determined in the Liquidity Provider's good faith discretion), the Fund will, under normal market conditions, invest at least 80% of its Managed Assets in Municipal Obligations that, at the time of investment, are rated within the four highest grades (Baa or BBB or better) by at least one NRSRO or are unrated but judged to be of comparable quality by the Investment Adviser; provided, however, that the Fund may invest up to 100% of its Managed Assets in securities issued by money market funds that invest exclusively in Eligible Assets.
Credit QualityAs of the Effective Date, the Fund (1) has invested at least 80% of its Managed Assets in investment grade quality municipal securities that, at the time of investment, were rated within the four highest grades (Baa or BBB or better) by all NRSROs or were unrated but judged to be of comparable quality by the Sub-Adviser; and (2) has invested up to 20% of its Managed Assets in municipal securities that at the time of investment were rated below investment grade (below investment grade quality municipal securities include those municipal securities that are rated investment grade by one or more NRSROs but rated below investment grade by at least one NRSRO) or were unrated but judged to be of comparable quality by the Sub-Adviser, provided that the Fund has invested no more than 10% of the Fund’s Managed Assets in municipal securities that, at the time of investment, were rated below both B3 and B- or that were unrated but judged to be of comparable quality by the Sub-Adviser.
Credit QualityAs of the Effective Date, the Issuer (1) has invested at least 50% of its Managed Assets in investment grade quality municipal securities that, at the time of investment, were rated within the four highest grades (Baa or BBB or better) by at least one of the NRSROs rating such securities or were unrated but judged to be of comparable quality by the Investment Adviser; and (2) has invested up to 50% of its Managed Assets in municipal securities that at the time of investment were rated below investment grade or were unrated but judged to be of comparable quality by the Investment Adviser, provided that the Issuer has invested no more than 10% of the Issuer's Managed Assets in municipal securities that, at the time of investment, were rated below B3/B- by an NRSRO or that were unrated but judged to be of comparable quality by the Investment Adviser.