Borrower Debt Rating definition

Borrower Debt Rating means the senior unsecured long term debt (without third party credit enhancement) rating of the Borrower as determined by a rating agency identified on the Pricing Schedule.
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Borrower Debt Rating means, with respect to the Borrower as of any date of determination, the rating that has been most recently announced by each of S&P or Xxxxx’x for any non-credit enhanced, unsecured long-term senior debt issued or to be issued by the Borrower. For purposes of the foregoing:
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Borrower Debt Rating means, with respect to the Borrower as of any date of determination, the rating that has been most recently announced by each of S&P or Moody’s for any non-credit enhanced, unsecured long-term senior debt issued or to be issued by the Borrower. For purposes of the foregoing:
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Examples of Borrower Debt Rating in a sentence

  • The Borrower Debt Rating in effect on any date for the purposes of this Schedule is that in effect at the close of business on such date.

  • If at any time there is no Borrower Debt Rating from Xxxxx’x or S&P, Level V shall apply.

  • As of the Closing Date, the Borrower Debt Rating shall be BBB- (with no negative outlook) or higher from S&P and Baa3 (with no negative outlook) or higher from Xxxxx’x.

  • If at any time neither Xxxxx’x nor S&P has issued a Borrower Debt Rating, Level V shall apply.

  • Any change in the Applicable Margin resulting from a change in the Borrower Debt Rating by either S&P or Xxxxx’x will become effective as on the date such change is publicly announced by such rating agency.


More Definitions of Borrower Debt Rating

Borrower Debt Rating means the rating then in effect by a Rating Agency with respect to the Obligations of Borrower hereunder or, at any time such rating is not maintained, the Debt Rating with respect to long term senior unsecured non-credit enhanced debt of Borrower.
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Borrower Debt Rating for a Rating Agency at any time means the -------------------- rating, if any, issued by such Rating Agency and then in effect with respect to public long-term senior unsecured debt securities, or if unavailable, to other indebtedness of the Borrower ("Rated Debt"). Each ---------- change by a Rating Agency of its rating of Rated Debt shall be effective for purposes hereof as of the date on which such change is first announced publicly by such Rating Agency.
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Borrower Debt Rating for a Rating Agency at any time means the rating (including, without limitation, a rating issued on an implied or indicative basis), if any, issued by such Rating Agency and then in effect with respect to public long-term senior unsecured debt securities of the Borrower ("Rated Debt"); provided that, if a Rating Agency shall issue a rating on Rated Debt without having been requested by the Borrower to do so, then such Rating Agency shall be deemed for purposes hereof not to have in effect a Borrower Debt Rating until the date 30 days after the date on which such Rating Agency shall have issued such rating. Each change by a Rating Agency of its rating on Rated Debt shall be effective for purposes hereof as of the date on which such change is first announced publicly by such Rating Agency.
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Related to Borrower Debt Rating

  • Debt Ratings has the meaning specified in the definition of “Applicable Rate.”

  • Public Debt Rating means, as of any date, the rating that has been most recently announced by any of S&P or Moody’s, as the case may be, for any class of non-credit enhanced long-term senior unsecured debt issued by TMCC or, if any such rating agency shall have issued more than one such rating, the lowest such rating issued by such rating agency. For purposes of the foregoing, (a) if only one of S&P and Moody’s shall have in effect a Public Debt Rating, the Applicable Maximum Rate and the Applicable Percentage shall be determined by reference to the available rating; (b) if neither of S&P or Moody’s shall have in effect a Public Debt Rating, the Applicable Maximum Rate and the Applicable Percentage will be set in accordance with Level 4 under the definitions of “Applicable Maximum Rate” and “Applicable Percentage”; (c) if both S&P and Moody’s have established ratings and those ratings shall fall within two different levels, the Applicable Maximum Rate and the Applicable Percentage shall be based upon the higher rating, unless the lower rating is more than one level below the higher rating, in which case the Applicable Maximum Rate and the Applicable Percentage shall be based upon the rating that is one level lower than the higher rating; (d) if any rating established by S&P or Moody’s shall be changed, such change shall be effective as of the date on which such change is first announced publicly by the rating agency making such change; and (e) if S&P or Moody’s shall change the basis or system on which ratings are established, each reference to the Public Debt Rating announced by S&P or Moody’s, as the case may be, shall refer to the then equivalent rating by S&P or Moody’s, as the case may be.

  • Investment Grade Credit Rating means (a) with respect to Fitch, a credit rating of BBB- or higher, (b) with respect to Xxxxx’x, a credit rating of Baa3 or higher and (c) with respect to S&P, a credit rating of BBB- or higher.

  • Credit Rating means the rating assigned by a Rating Agency to the senior unsecured long term Indebtedness of a Person.

  • S&P Rating means, at any time, the rating issued by S&P and then in effect with respect to the Borrower’s senior unsecured long-term debt securities without third-party credit enhancement.

  • Secured Leverage Ratio means, on any date, the ratio of (a) Consolidated Secured Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.