Arrow Level 2 Rating Event definition

Arrow Level 2 Rating Event means the withdrawal or downgrade of the long-term senior unsecured debt rating of Arrow below either BB+ or Ba1 by S&P and Moody’s, respectively.
Arrow Level 2 Rating Event means the withdrawal or downgrade of the long-term senior unsecured debt rating of Arrow below either BB+ or Ba1 by S&P and ▇▇▇▇▇’▇, respectively.