Corporate Rating definition

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

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Corporate Rating means, as of any date of determination, the rating as determined by either S&P or ▇▇▇▇▇’▇ (collectively, the “Corporate Ratings”) of the corporate credit rating or corporate family rating of any Person.

Corporate Rating means (a) in the case of ▇▇▇▇▇’▇, the “Corporate Family Rating” for the Parent or (b) in the case of S&P, a “Long-term Issuer” rating assigned under the “Corporate Credit Rating Service” for the Parent.

Examples of Corporate Rating in a sentence

• Use commercially reasonable efforts to (a) cause the Facilities to be continuously rated by S&P and ▇▇▇▇▇’▇ and (b) cause the Borrower to continuously receive a Corporate Family Rating and Corporate Rating.

• Use commercially reasonable efforts to (a) cause the Facilities to be continuously rated by S&P and ▇▇▇▇▇’▇ and (b) cause the Borrower to continuously receive a public Corporate Family Rating and Corporate Rating (it being acknowledged and agreed, in each case, that no minimum ratings shall be required).

• Use commercially reasonable efforts to (a) cause the Term Loans to be continuously rated by S&P and ▇▇▇▇▇’▇ and (b) cause the Borrower to continuously receive a Corporate Family Rating and Corporate Rating.

• The Company will at all times maintain a Corporate Rating from at least one Rating Agency, and the Company will not at any time permit any such Corporate Rating to be lower than BBB-/Baa3 (or its equivalent).

• Holdings will use its commercially reasonable efforts to cause a (i) Corporate Rating by S&P or Corporate Family Rating by ▇▇▇▇▇’▇ and (ii) senior secured credit rating with respect to the Loans from each of S&P and ▇▇▇▇▇’▇ to be available at all times until the Stated Maturity Date for the Term Loans.

More Definitions of Corporate Rating

Corporate Rating means, at any time, (a) with respect to S&P, the Borrower’s corporate credit rating, (b) with respect to ▇▇▇▇▇’▇, the Borrower’s corporate family rating and (c) with respect to Fitch, the Borrower’s issuer default rating.

Corporate Rating means the ▇▇▇▇▇’▇ Rating, the S&P Rating or the Fitch Rating, as applicable.

Corporate Rating the Borrower’s “corporate rating” or “corporate family rating” from S&P or ▇▇▇▇▇’▇ or Fitch, respectively, including any successor term for such rating adopted by such rating agency.

Corporate Rating means, as of any date, the corporate credit and/or corporate family rating assigned by the Rating Agencies with respect to the Borrower. For purposes of the foregoing: (i) if the ratings established by the Rating Agencies for the Borrower shall fall within the same Pricing Level, the Applicable Rate and Applicable Fee Rate shall be determined by reference to such Pricing Level, (ii) if each Rating Agency shall have in effect a rating for the Borrower and such ratings shall fall within different Pricing Levels, the Applicable Rate and Applicable Fee Rate shall be based on (a) the higher of the two ratings if one rating is one Pricing Level lower than the other, (b) the Pricing Level that is one Pricing Level below that of the higher rating if one rating is two Pricing Levels lower than the other and (c) one Pricing Level higher than the lower rating if one rating is more than two Pricing Levels lower than the other, (iii) if only one Rating Agency shall have in effect a rating for the Borrower, the Applicable Rate and Applicable Fee Rate shall be determined by reference to the Pricing Level in which such rating falls, (iv) if no Rating Agency shall have in effect a rating for the Borrower (other than by reason of the circumstances referred to in the penultimate sentence of this definition), then each Rating Agency shall be deemed to have established a rating in Pricing ▇▇▇▇▇ ▇, (v) if at any time an Event of Default has occurred and is continuing, then each Rating Agency shall be deemed to have established a rating in Pricing Level 4 and (vi) if the ratings established or deemed to have been established by a Rating Agency for the Borrower shall be changed (other than as a result of a change in the rating system of such Rating Agency), such change shall be effective as of the date on which it is first announced by the applicable Rating Agency, irrespective of when notice of such change shall have been furnished by the Borrower to the Administrative Agent. Each change in the Applicable Rate and Applicable Fee Rate shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change. If the rating system of any Rating Agency shall change, or if any Rating Agency shall cease to be in the business of rating corporate obligors, the Borrower and the Lenders shall negotiate in good faith to amend the definition of the Applicable Rate and Applicable Fee Rate to reflect s...

Corporate Rating means, at any time, (a) the Borrower’s corporate credit rating then in effect (or at any time when there is no corporate credit rating in effect, the Borrower’s Index Rating) from S&P, (b) the Borrower’s corporate family rating then in effect (or at any time when there is no corporate family rating in effect, the Borrower’s Index Rating) from ▇▇▇▇▇’▇ and (c) the Borrower’s issuer default rating then in effect (or at any time when there is no issuer default rating in effect, the Borrower’s Index Rating) from Fitch.

Corporate Rating means, as of any date of determination, the rating as determined by either S&P or Moody’s (collectively, the “Corporate Ratings”) of the corporate credit rating or corporate family rating of any Person.

Corporate Rating means (i) the Company’s corporate credit rating from S&P, (ii) the Company’s corporate family rating from Moody’s or (iii) the Company’s issuer rating from Morningstar or, in each case, an equivalent rating by any other Rating Agency.