Below Investment Grade definition

Below Investment Grade means, with respect to any Series of RVMTP Shares and as of any date, the following ratings with respect to each Rating Agency (to the extent it is a Rating Agency on such date):

Below Investment Grade means any obligation, the highest rating for which from any of Xxxxx’x, S&P, Fitch and, in their absence, any other NRSRO is:

Below Investment Grade means, with respect to any Series of VMTP Shares and as of any date, the following ratings with respect to each Rating Agency (to the extent it is a Rating Agency on such date):

Examples of Below Investment Grade in a sentence

• Section 5.01 Neither the Trustee nor any Paying Agent shall be responsible for determining whether any Change of Control or Below Investment Grade Rating Event has occurred and whether any Change of Control offer with respect to the Notes is required.

• Neither the Trustee nor any Paying Agent shall be responsible for determining whether any Change of Control or Below Investment Grade Rating Event has occurred and whether any Change of Control offer with respect to the Notes is required.

• Below Investment Grade debt securities are speculative and involve a greater risk of default and price changes due to changes in the issuer’s creditworthiness.

• A "Ratings Event" shall be deemed to exist with respect to any Series of VMTP Shares at any time such VMTP Shares have a long-term credit rating from at least one-half of the Rating Agencies designated at such time that is Below Investment Grade.

• Table I shows Long-Term Mean Benchmark Spreads as of 9/30/2009 for Below Investment Grade bonds.

More Definitions of Below Investment Grade

Below Investment Grade means any obligation, the highest rating for which from any of Moody’s, S&P, Fitch and, in their absence, any other NRSRO is:

Below Investment Grade means any obligation, the highest rating for which from any of Moody’s, S&P and Fitch is:

Below Investment Grade means, with respect the AMTP Shares and as of any date, the following ratings with respect to each Rating Agency (to the extent it is a Rating Agency on such date):

Below Investment Grade means, as of any date, the following ratings with respect to each Rating Agency (to the extent it is a Rating Agency on such date):

Below Investment Grade means the Notes are rated lower than Baa3, BBB- or BBB- by Moody’s Investors Service, Inc., Standard & Poor’s Ratings Group or Fitch, Inc., respectively.

Below Investment Grade means securities with NAIC Ratings of 3, 4, 5 or 6.

Below Investment Grade means an investment rating level below BBB- from Standard & Poor's