Equivalent Rating definition

Equivalent Rating means in the case of any security not rated by S&P or Moody’s an equivalent rating to the relevant rating by S&P or Moody’s, which rating is issued by another Rating Agency as determined by the Investment Manager;
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Equivalent Rating as defined in the definition of “Applicable Margin”.
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Equivalent Rating means with specific reference to senior debt ratings (or equivalent):
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Examples of Equivalent Rating in a sentence

  • In order to achieve its investment objective, each Fund may invest in equity securities, collective investment schemes, warrants, preference shares, depository receipts, fixed and floating rate bonds, debentures and other debt securities issued by government, local and public authorities and corporations each having an Investment Grade or a Sub- Investment Grade or Equivalent Rating, including securities convertible or exchangeable for equity and non-equity securities.

  • The percent of Tangible Net Worth is comprised of fifty percent (50%) of the Market Participant’s lowest credit agency issuer rating and fifty percent (50%) of the Moody’s Analytics Equivalent Rating.

  • If a Moody’s Analytics Equivalent Rating is not reasonably applicable, the percent of Tangible Net Worth is comprised of one hundred percent (100%) of the Market Participant’s lowest credit agency issuer rating.

  • The percent of Tangible Net Worth is comprised of one hundred percent (100%) of the Moody’s Analytics Equivalent Rating.

  • In respect of any reference to a rating downgrade by DBRS, a party will be treated as having being downgraded by DBRS if: (i) such party is or has been rated by DBRS and such rating has been lowered or withdrawn; or (ii) such party is not rated by DBRS but ceases to have a DBRS Equivalent Rating.

  • The percentage a Market Participant qualifies for will be reduced as its credit risk increases as determined by having a lower Moody’s Analytics Equivalent Rating and/or credit agency issuer rating.A lesser amount of unsecured credit may be granted if the CAISO becomes aware of information related to a Material Change in Financial Condition or other significant information that presents a significant risk to the creditworthiness of the entity.

  • If either the Moody’s Analytics Equivalent Rating or the credit agency rating, at any time, falls below investment grade, a Market Participant will be denied unsecured credit or have their existing unsecured credit revoked until the CAISO’s next quarterly review of the Market Participant’s creditworthiness or thirty (30) calendar days, whichever is longer.

  • Standard and Poor’s (or Equivalent) Rating Once FG&E has evaluated or reevaluated and determined the maximum Credit limits for each Customer, it will inform the prospective Customer of the amount of such credit limits.

  • A Single-family Equivalent Rating (“EQR”) represents the use which is estimated to have an impact upon the District’s water supply equivalent to a single-family dwelling unit of 3 bedrooms or less.

  • As mentioned above, the Fund intends to invest on a long basis in fixed income securities denominated in multiple currencies, including bonds of at least Investment Grade or an Equivalent Rating (both sovereign and corporate and fixed and floating rate).


More Definitions of Equivalent Rating

Equivalent Rating means, in respect of a rating from a Rating Agency, the equivalent thereof resulting from any change in the rating system of such Rating Agency.
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Equivalent Rating means an equivalent rating as determined by the Relevant Rating Agency.
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Equivalent Rating means, with respect to any security of a given type that is not rated by S&P or Xxxxx’x (an “unrated security”), such unrated security has been determined, in the reasonable judgment of the Investment Adviser, to be of equal credit quality as a rated security of the same type which is valued similarly as such unrated security, after giving effect to clause (1) of the proviso contained in the defined term “Borrowing Base”.
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Equivalent Rating means the rating by Xxxxx’x, Fitch or S&P that is set forth below under the applicable heading opposite the applicable “KBRA Rating” listed below.
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Equivalent Rating means a senior unsecured long-term debt rating of an NRSRO, which rating is (i) requested by a Borrower as an alternative to a rating from S&P, (ii) acceptable to the Agent in its sole discretion, and (iii) equivalent to the Level I Rating, Level II Rating, Level III Rating or Level IV Rating, as the case may be, from S&P, as determined by the Agent, subject to the approval of the Required Banks.
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Related to Equivalent Rating

  • DBRS Equivalent Rating means, with respect to any date and any Person with respect to whom DBRS does not maintain a public Relevant DBRS Rating as of such date,

  • 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.

  • 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.

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

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

  • Equivalent Load means the sum of a Market Participant’s net system requirements to serve its customer load in the PJM Region, if any, plus its net bilateral transactions.

  • Equivalent method means any method of sampling and analyzing for an air pollutant that has been demonstrated to the satisfaction of the commissioner and the U.S. EPA to have a consistent and quantitatively known relationship to the reference method under specific conditions.

  • 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.

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

  • Equivalent position means an employment position that:

  • Specified Rating means, for the Class A(2018-1) Notes, Aaa(sf) with respect to Xxxxx’x, AAA(sf) with respect to Standard & Poor’s and AAAsf with respect to Fitch.

  • Rating Level means, with respect to any rating agency, each rating subcategory or “notch” of such rating agency , giving effect to pluses and minuses (or similar designations). By way of illustration, BBB+, BBB and BBB- are each separate Rating Levels of S&P.

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

  • Equivalent Amount of any currency with respect to any amount of Dollars at any date shall mean the equivalent in such currency of such amount of Dollars, calculated on the basis of the Exchange Rate for such other currency at 11:00 a.m., London time, on the date on or as of which such amount is to be determined.

  • Index Debt means senior, unsecured, long-term indebtedness for borrowed money of the Borrower that is not guaranteed by any other Person or subject to any other 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.

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

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

  • 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 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.

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

  • Annual summative evaluation rating means an annual evaluation rating that is based on appraisals of educator practice and student performance, and includes all measures captured in a teacher’s evaluation rubric. The four summative performance categories are ineffective, partially effective, effective, and highly effective.

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

  • 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.

  • Moody’s First Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A2” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-1”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A1”.

  • Required Rating means a short-term unsecured debt rating of “A-1+” by S&P Global Ratings and “F1+” by Fitch.

  • 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.