Composite Rating definition

Composite Rating means (i) if such Security is rated by either S&P or Xxxxx’x, but not both, the composite rating indicated on the chart below as corresponding to the rating given to such Security by S&P or Xxxxx’x; and (ii) if such Security is rated by both S&P and Xxxxx’x, the composite rating indicated on the chart below as corresponding to a score equal to the average (rounded up to the nearest integer) of the scores assigned on the chart below to such Security’s S&P rating and such Security’s Xxxxx’x rating. Baa1 BBB+ 1 BBB+ Baa2 BBB 2 BBB Xxx0 XXX- 0 XXX- Xx0 BB+ 4 BB+ Ba2 BB 5 BB Ba3 BB- 6 BB- B1 B+ 7 B+ B2 B 8 B B3 B- 9 B- Caa1 CCC+ 10 CCC+ Caa2 CCC 11 CCC Caa3 CCC- 12 CCC- Notwithstanding the foregoing, for purposes of determining the Composite Rating of the Notes of this Series, in the event that, at the time of such determination, neither S&P nor Xxxxx’x has rated the Notes of this Series, then (a) the rating of the Notes of this Series from S&P and/or Xxxxx’x, as applicable, shall be deemed, for purposes of this definition, to be the same as (i) the rating by the applicable rating agency of the Company’s 6.625% Senior Notes due 2023 or (ii) solely in the event that the 6.625% Senior Notes due 2023 are not outstanding, or are not rated by either rating agency, the rating of any other series of unsecured notes issued by the Company which rank pari passu in right of payment with, and are guaranteed on a similar basis as, the Notes of this Series (and, if multiple series of notes issued by the Company and meeting the requirements of this clause (ii) are outstanding, the rating of the Notes of this Series shall be deemed to be the rating of the series of notes issued by the Company with a remaining tenor closest to the remaining tenor of the Notes of this Series) and (b) in the event that ratings from either rating agency in respect of any notes of the types described in clause (a)(i) or (ii) are not available, for purposes of determining the Adjusted Bond Yield of a Component Bond in relation to the Notes of this Series, clause (iii) of the definition of Adjusted Bond Yield shall be deemed to be zero. If neither S&P nor Xxxxx’x has rated a Component Bond, then for purposes of determining the Adjusted Bond Yield of such Component Bond, clause (iii) of the definition of Adjusted Bond Yield shall be deemed to be zero.
Sample 1Sample 2Sample 3
Composite Rating means (i) if such Security is rated by either S&P or Moody's, but not both, the composite rating indicated on the chart below as corresponding to the rating given to such Security by S&P or Moody's; and (ii) if such Security is rated by both S&P and Moody's, the composite rating indicated on the chart below as corresponding to a score equal to the average (rounded up to the nearest integer) of the scores assigned on the chart below to such Security's S&P rating and such Security's Xxxxx'x rating. Baa1 BBB+ 1 BBB+ Baa2 BBB 2 BBB Xxx0 XXX- 0 XXX- Xx0 BB+ 4 BB+ Ba2 BB 5 BB Ba3 BB- 6 BB- B1 B+ 7 B+ B2 B 8 B B3 B- 9 B- Caa1 CCC+ 10 CCC+ Caa2 CCC 11 CCC Caa3 CCC- 12 CCC-
Sample 1

Examples of Composite Rating in a sentence

  • This Composite Rating Rule also provides an effective procedure for rating those classifications for which the manual exposures are not readily available and cannot be obtained without excessive difficulty.

  • This Composite Rating Rule provides an effective procedure for rating those classifications for which the manual exposures are not readily available and cannot be obtained without excessive difficulty.

  • But councils already make many decisions that may be subject to external review and which require them to seek second opinions and legal expertise and which would not fall within any fixed budgetary allocation.

  • Once the Teacher of Record has received his/her Overall APPR Composite Rating of Developing or Ineffective, a TIP shall be drafted within seven (7) school days.

  • The first step of each appeal is to meet with the Evaluator within five school days after the HEDI Composite Rating is received.

  • The Chair or Supervisor will calculate an Overall Composite Rating (OCR) for each faculty member/instructor.

  • Composite rating definitions for risk management and specialty examinations should be included on the Composite Rating Definitions page.

  • Composite Rating 2: Financial institutions and service providers rated composite 2 exhibit safe and sound performance but may demonstrate modest weaknesses in operating performance, monitoring, management processes, or system development.

  • Configuration parameters are specified as RDF statements in a memory model that is passed as an argument when creating a new persistent model.

  • Composite Rating 3: Financial institutions and service providers rated composite 3 exhibits some degree of supervisory concern due to a combination of weaknesses that may range from moderate to severe.

Related to Composite Rating

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

  • Corporate Rating an opinion issued by S&P of an obligor’s overall financial capacity (its creditworthiness) to pay its financial obligations.

  • 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.

  • Moody’s means Xxxxx’x Investors Service, Inc.

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

  • 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.

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

  • 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.

  • 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.

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

  • Threshold Rating means the short-term unsecured debt rating of P-1 by Moody's and A-1 by Standard & Poor's.

  • Ratings As of any date of determination, the ratings, if any, of the Certificates as assigned by the Rating Agencies.

  • Rating means the operating limits as specified by the component manufacturer.

  • Aa3 by Moody's or are rated "Aa3" by Moody's and such rating is on watch for possible downgrade (but only for so long as it is on watch for possible downgrade), or (C) either (i) the unsecured, short-term debt obligations of Party A (or its Credit Support Provider) are rated below "A-1" by S&P or (ii) if Party A (or its Credit Support Provider) does not have a short-term rating from S&P, the unsecured, long-term senior debt obligations of Party A (or its Credit Support Provider) are rated below "A+" by S&P (such event, a "Collateralization Event"), then, Party A, at its own cost and subject to the Rating Agency Condition, shall within 30 days either (i) cause another entity to replace Party A as party to this Agreement that satisfies the Swap Counterparty Ratings Requirement and that is approved by the Trustee (which approval shall not be unreasonably withheld) on terms substantially similar to this Agreement; (ii) obtain a guaranty of, or a contingent agreement of another person that satisfies the Swap Counterparty Ratings Requirement, to honor Party A's obligations under this Agreement, provided that such other person is approved by the Trustee such approval not to be unreasonably withheld; (iii) post collateral in accordance with a Credit Support Annex which satisfies the Rating Agency Condition; or (iv) establish any other arrangement satisfactory to the applicable Swap Rating Agency which will be sufficient to restore the immediately prior ratings of the Swap Certificates (determined without regard to any financial guaranty insurance policy, if applicable). All collateral posted by Party A shall be returned to Party A immediately upon Party A securing a substitute counterparty that satisfies the Swap Counterparty Ratings Requirement.

  • Investment Grade Rating means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P, or an equivalent rating by any other Rating Agency.

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

  • Moody s” means Moody’s Investors Service, Inc.

  • Substitute Rating Agency means a “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) under the Exchange Act selected by the Company (as certified by a resolution of the Board of Directors of the Company).

  • Initial Rating With respect to the Secured Notes, the rating or ratings, if any, indicated in Section 2.3.

  • 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.

  • Note Rating Agency means, with respect to any Outstanding Series, Class or Tranche of Notes, each statistical note rating agency selected by the Issuer to rate such Notes.

  • Standard & Poor’s means Standard & Poor’s Ratings Services, a division of The XxXxxx-Xxxx Companies, Inc.

  • Fitch Rating means, at any time, the rating issued by Fitch and then in effect with respect to the Borrower’s senior unsecured long-term public debt securities without third-party credit enhancement (it being understood that if the Borrower does not have any outstanding debt securities of the type described above but has an indicative rating from Fitch for debt securities of such type, then such indicative rating shall be used for determining the “Fitch Rating”).

  • Long-Term Rating has the meaning specified in the Intercreditor Agreement.

  • Investment Grade Rating Date means the date on which the Borrower first obtains an Investment Grade Rating.

  • Ratings Spread means, with respect to an SRP Calculation Period, the percentage per annum set forth below opposite the highest applicable credit rating assigned to the VRDP Shares, unless the lowest applicable rating is below A3/A-, in which case the Ratings Spread shall mean the percentage per annum set forth below opposite the lowest applicable credit rating assigned to the VRDP Shares by Moody’s, Fitch or any Other Rating Agency, in each case rating the VRDP Shares at the request of the Fund, on the SRP Calculation Date for such SRP Calculation Period: