Company Debt Rating definition

Company Debt Rating means, with respect to the Company 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 Company. For purposes of the foregoing:
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Company Debt Rating means, as of any date of determination, Company’s corporate family rating or equivalent rating from Xxxxx’x or Company’s corporate rating or equivalent rating from S&P, as the case may be.
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Examples of Company Debt Rating in a sentence

  • The Company Debt Rating shall continue to be a Fourth Level Debt Rating until such time as the Company (1) cures such failure and is in compliance with the first sentence above and (2) otherwise qualifies for a rating higher than a Fourth Level Debt Rating pursuant to the procedures set forth herein.

  • Company shall use commercially reasonable efforts to maintain a Company Debt Rating.

  • Fourth Level Debt Rating shall mean a Company Debt Rating of (i) BB or lower if the rating is provided by Standard & Poor's, (ii) Ba2 or lower if the rating is provided by Moody's, or (iii) equivalent to or lower than a BB rating by Standard & Poor's or a Ba2 by Moody's if the rating is provided by a Qualified Rating Agency other than Standard & Poor's or Moody's.

  • It is acknowledged that the Company Debt Rating on the Fourth Amendment Effective Date is BB+/Ba1.

  • First Level Debt Rating shall mean a Company Debt Rating of (i) BBB or higher if the rating is provided by Standard & Poor's, (ii) Baa2 or higher if the rating is provided by Moody's or (iii) equivalent to or higher than a BBB rating by Standard & Poor's or Baa2 by Moody's if the rating is provided by a Qualified Rating Agency other than Standard & Poor's or Moody's.

  • Upon delivery of written notice (a) by Company to Administrative Agent of a change in the Company Debt Rating or (b) by Administrative Agent to Company of a change in the Company Debt Rating, the applicable Commitment Fee Percentage shall automatically be adjusted in accordance with such change in the Company Debt Rating, such adjustment to become effective on the Business Day following such change in the Company Debt Rating.

Related to Company Debt Rating

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

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

  • Index Debt Rating means the S&P Rating, the Xxxxx’x Rating and the Fitch Rating.

  • 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.

  • Senior Debt Rating means, at any date, the credit rating identified by a Rating Agency as the credit rating that (a) it has assigned to long term unsecured senior debt of the Borrower or (b) would assign to long term unsecured senior debt of the Borrower were the Borrower to issue or have outstanding any long term unsecured senior debt on such date.

  • Applicable Rating Level at any time and for any Borrower shall be determined in accordance with the then-applicable S&P Rating and the then-applicable Xxxxx’x Rating for such Borrower as follows: S&P Rating/Xxxxx’x Rating Applicable Rating Level S&P Rating A or higher or Xxxxx’x Rating A2 or higher 1 S&P Rating A- or higher or Xxxxx’x Rating A3 or higher 2 S&P Rating BBB+ or Xxxxx’x Rating Baa1 3 S&P Rating BBB or Xxxxx’x Rating Baa2 4 S&P Rating BBB- or Xxxxx’x Rating Baa3 5 S&P Rating BB+ or below or Xxxxx’x Rating Ba1 or below, or no S&P Rating or Xxxxx’x Rating 6 The Applicable Rating Level for any Borrower and for any day shall be determined based upon the higher of the S&P Rating and the Xxxxx’x Rating for such Borrower in effect on such day. If the S&P Rating and the Xxxxx’x Rating are not the same (i.e., a “split rating”), the higher of such ratings shall control, unless (i) the ratings differ by more than one level, in which case the rating one level below the higher of the two ratings shall control, or (ii) either rating is below BBB- or Baa3 (as applicable), in which case the lower of the two ratings shall control.

  • Rating Date means the date which is 90 days prior to the earlier of (i) a Change in Control and (ii) public notice of the occurrence of a Change in Control or of the intention of the Company to effect a Change in Control.

  • Mxxxx’x Rating means, with respect to a Reference Obligation, as of any date of determination:

  • Highest Rating Category means, with respect to a Permitted Investment, that the Permitted Investment is rated by S&P or Moody’s in the highest rating category given by that rating agency for that general category of security. By way of example, the Highest Rating Category for tax exempt municipal debt established by S&P is “A 1+” for debt with a term of one year or less and “AAA” for a term greater than one year, with corresponding ratings by Moody’s of “MIG 1” (for fixed rate) or “VMIG 1” (for variable rate) for three months or less and “Aaa” for greater than three months. If at any time (i) both S&P and Moody’s rate a Permitted Investment and (ii) one of those ratings is below the Highest Rating Category, then such Permitted Investment will, nevertheless, be deemed to be rated in the Highest Rating Category if the lower rating is no more than one rating category below the highest rating category of that rating agency. For example, a Permitted Investment rated “AAA” by S&P and “Aa3” by Moody’s is rated in the Highest Rating Category. If, however, the lower rating is more than one full rating category below the Highest Rating Category of that Rating Agency, then the Permitted Investment will be deemed to be rated below the Highest Rating Category. For example, a Permitted Investment rated “AAA” by S&P and “A1” by Moody’s is not rated in the Highest Rating Category.

  • Corporate Rating means, as of any date of determination, the non-credit enhanced corporate credit rating of a Person (as determined by either S&P or Xxxxx'x).

  • Investment Grade Credit Rating means (i) a Credit Rating of Baa3 or higher given by Xxxxx’x, (ii) a Credit Rating of BBB- or higher given by S&P or (iii) a Credit Rating of BBB- or higher given by Fitch.

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

  • Specified Rating means, for the Class A(2017-2) Notes, Aaa(sf) with respect to Xxxxx’x, AAA(sf) with respect to Standard & Poor’s and AAAsf with respect to Fitch.

  • Public Debt Rating means, as of any date and subject to the provisions of the next succeeding sentence, the lowest rating that has been most recently announced by each 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 the Borrower. 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 Percentage and the Applicable Margin shall be determined by reference to the available rating; (b) if neither S&P nor Moody’s shall have in effect a Public Debt Rating, the Applicable Percentage and the Applicable Margin shall be set in accordance with Level 6 under the definition of Applicable Percentage or Applicable Margin, as the case may be; (c) if the ratings established by S&P and Moody’s shall fall within different levels, the Applicable Percentage and the Applicable Margin shall be based upon the higher of such ratings, except that, in the event that the lower of such ratings is more than one level below the higher of such ratings, the Applicable Percentage and the Applicable Margin shall be based upon the level immediately below the higher of such ratings; (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 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.

  • Applicable Rating means the rating assigned to each Class of the Series 2013-T3 Notes by S&P, as the Note Rating Agency, upon the issuance of such Class as set forth below:

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

  • Funded Debt Ratio means the ratio of (a) Funded Debt to (b) EBITDA.

  • Pricing Level V any time when (i) the senior unsecured long term debt rating of the Borrower by (x) S&P is BBB‑ or higher or (y) Xxxxx’x is Baa3 or higher and (ii) none of Pricing Level I, Pricing Level II, Pricing Level III or Pricing Level IV applies.

  • Moody’s Rating means, at any time, the rating issued by Moody's and xxxx xx effect with respect to the Borrower's senior unsexxxxx xong-term debt securities without third-party credit enhancement.

  • Applicable Pricing Level means, for each Pricing Period the pricing level set forth below opposite the Debt Rating achieved by Borrower as of the first day of that Pricing Period: Pricing Level Debt Rating I Greater than or equal to A1 / A+ II Less than A1 / A+ but greater than or equal to A2 / A III Less than A2 / A but greater than or equal to A3 / A- V Less than Baa2/BBB provided that in the event that the then prevailing Debt Ratings are “split ratings”, Borrower will receive the benefit of the higher Debt Rating, unless the split is a “double split rating” (in which case the pricing level applicable to the middle Debt Rating will apply) or a “triple split rating” (in which case the pricing level applicable to the Debt Rating above the Debt Rating applicable to the lowest pricing level will apply). For purposes hereof, a Debt Rating is only a “split rating” if the Debt Rating applies to a different pricing level.

  • Acceptable Credit Rating means a minimum long term credit rating of either BBB from Standard & Poors or Baa2 from Xxxxx’x; Access Undertaking means:

  • Pricing Level refers to the determination of which of Level I, Level II, Level III, Level IV, Level V or Level VI Pricing applies on any day.

  • Applicable Credit Rating For any long-term deposit or security, a credit rating of AAA in the case of S&P or Aaa in the case of Moody's. For any shxxx-xxxm deposit or security, or a rating of A-l+ in the case of S&P or P-1 in the case of Moody's.

  • Risk Rating means, with respect to any Loan at any time, if such Loan is at such time (i) rated by both S&P and Moody’s, the lower of such ratings, (ii) rated by either S&P or Moody’s, such rating or (iii) not rated by either S&P or Moody’s, the rating determined by the Servicer’s risk rating model.

  • Pricing Level IV means any time when (i) no Event of Default has occurred and is continuing, (ii) the Senior Debt Rating is BBB- or higher by S&P or Baa3 or higher by Moody’s and (iii) Pricing Levels I, II and III do not apply.