Assigned Rating definition
Assigned Rating means, in respect of the Counterparty, the Custodian or the Principal Paying Agent, the rating assigned to the Relevant Unsecured Indebtedness of such entity by the Applicable Rating Agency. The Assigned Rating relating to the Counterparty is denoted in this Securities Note as the "Counterparty Assigned Rating", the Assigned Rating relating to the Custodian is denoted in this Securities Note as the "Custodian Assigned Rating" and the Assigned Rating relating to the Principal Paying Agent is denoted in this Securities Note as the "Principal Paying Agent Assigned Rating". For these purposes, "Applicable Rating Agency" means the rating agency specified as such in the Notes Data Table in relation to such entity, and the "Relevant Unsecured Indebtedness" of an entity means either the long-term unsecured unsubordinated indebtedness or the short-term unsecured unsubordinated indebtedness of such entity, indicated in the Notes Data Table as either "Long-term" or "Short-term" respectively.
Assigned Rating means, with respect to any Transferred Loan as of any date of determination, the lowest of (a) the monitored publicly available rating or Shadow Rating expressly assigned to such Loan by Mo▇▇▇’▇ ▇r S&P that addresses the full amount of the principal and interest payable on such Loan, (b) the rating assigned by the Servicer’s internal risk rating model, or (c) the RiskCalc Rating; provided, however, that (i) in the case of the rating determined in subsection (a), (b) or (c), such Assigned Rating shall in no event be lower than the rating determined in (a), (ii) any such rating, if assigned by S&P, shall be lowered by one rating level, (iii) any such rating, if assigned by the Servicer’s internal rating model, shall, if the weighted average rating assigned by the Servicer to any set of Transferred Loans is found to be higher than the weighted average Shadow Rating of the same set of Loans, be adjusted downward by the amount of such deviation, (iv) each such rating shall be compared quarterly with the applicable RiskCalc Rating, and to the extent that the RiskCalc Rating is found to be lower, then such rating will be adjusted downward and to the extent that the RiskCalc Rating is found to be higher, then such rating will be adjusted upward, in each case, by the amount of such deviation, and (v) each such rating shall be converted to the equivalent Mo▇▇▇’▇ ▇ating for reporting purposes; provided, however, that for the period of 60 days after the Effective Date, the Assigned Rating shall be the lower of (x) the RiskCalc Rating or (y) the internal rating.
Assigned Rating. The Moody's Assigned Rating or the S&P Assigned Rating, as applicable.
Examples of Assigned Rating in a sentence
With respect to each Substitute Collateral Debt Security acquired based on an S&P Estimated Rating after the Effective Date, the Collateral Manager shall determine compliance with the S&P Post-Acquisition Compliance Test when it receives notice from S&P of the S&P Assigned Rating for such Substitute Collateral Debt Security.
Following an S&P Post-Acquisition Failure, until such time as the S&P Post-Acquisition Failure has been remedied as provided above, the Issuer may only purchase Substitute Collateral Debt Securities that have an S&P Assigned Rating.
With respect to each Substitute Collateral Debt Security acquired based on a Moody's Estimated Rating after the Effective Date, the Collateral Manager shall determine compliance with the Moody's Post-Acquisition Compliance Test when it receives notice from Moody's of the Moody's Assigned Rating for such Substitute Collateral Debt Security.
More Definitions of Assigned Rating
Assigned Rating is hereby amended by replacing the reference to “DBRS” therein with “an Approved Rating Agency”;
Assigned Rating means, in respect of the Swap Counterparty, any Collateral Provider, the Custodian, the Account Bank or the Principal Paying Agent, the rating assigned to the Relevant Unsecured Indebtedness of such entity (or, in the case of the Principal Paying Agent, any guarantor of such entity) by the Rating Agency. For these purposes, the "Relevant Unsecured Indebtedness" of an entity means either the long-term unsecured unsubordinated indebtedness or the short-term unsecured unsubordinated indebtedness of such entity, indicated in the Information Table as either "Long-term" or "Short-term" respectively.
Assigned Rating means, in respect of the Swap Counterparty, the Repo Counterparty, the Custodian, the Account Bank or the Principal Paying Agent, the rating assigned by each relevant Rating Agency to, as applicable, either the long-term unsecured unsubordinated indebtedness or the short-term unsecured unsubordinated indebtedness of such entity.