Investment Grade Date means the first day when the Debt Rating is BBB (stable outlook) or higher by S&P and Baa2 (stable outlook) or higher by Moody's.
Investment Grade Date means the first date on which one of the Rating Agencies maintains an Investment Grade Rating and the other Rating Agency maintains a rating equal to or more favorable than BB+ (stable) or Ba1 (stable), as applicable.
Investment Grade Date means the first date after the Closing Date on which the Borrower’s Corporate Rating is (a) BBB- or better by S&P (without negative outlook or negative watch), or (b) Baa3 or better by Xxxxx’x (without negative outlook or negative watch), provided that the other of the two Corporate Ratings is at least BB+ by S&P or Ba1 by Xxxxx’x.
Examples of Investment Grade Date in a sentence
The Borrower will not, as of the last day of any Fiscal Quarter (commencing with the Fiscal Quarter in which the Investment Grade Date occurs) permit the Total Indebtedness to Capitalization Ratio to exceed 65%.
More Definitions of Investment Grade Date
Investment Grade Date means the first date on which the Borrower's Index Debt rating is BBB- or better by S&P's or Baa3 or better by Moody's, unless one of the two ratings is two or more categories lower than the other and the category that is one above the lower rating is not BBB- or Baa3 or better.
Investment Grade Date means the first day on which the ratings established by both S&P and Xxxxx’x for the Index Debt are, respectively, BBB- or better and Baa3 or better.
Investment Grade Date means the first date on which the Borrower achieves an Investment Grade Rating.
Investment Grade Date has the meaning set forth in Section 4.20 hereof.
Investment Grade Date means the first date on which the Borrower’s Index Debt rating is BBB- or better by S&P (without negative outlook or negative watch), or Baa3 or better by Moody’s (without negative outlook or negative watch), provided that the other of the two Index Debt ratings is at least BB+ by S&P or Ba1 by Moody’s.
Investment Grade Date means the first date on which (a) at least two of S&P, Xxxxx’x and Fitch first maintain an Investment Grade Rating and (b) the Borrower notifies the Administrative Agent in writing of such Investment Grade Rating.
Investment Grade Date means the first date occurring after the Closing Date upon which the Borrower receives: (i) a Debt Rating of BBB- or better from S&P or Baa3 or better from Moody’s, and (ii) a second Debt Rating of BB+ or better from S&P or Ba1 or better from Moody’s, as applicable, in each case, without negative outlook or negative watch.