Level IV Rating definition

Level IV Rating as of any date, such Level shall apply if the Company’s assigned Credit Rating as of such date is A3 by Moody’s, A- by S&P and A- by Fitch.
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Level IV Rating means, for the applicable rating agency: the Borrower’s Xxxxx’x Rating is Baa3 or better; Borrower’s S&P Rating is BBB- or better. “Level V Rating” exists at any date if, on such date, the Borrower has not qualified for Level I Rating, Level II Rating, Level III Rating, or Level IV Rating.
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Level IV Rating means, at any time at which the Company does not have a Level I Rating, a Level II Rating or a Level III Rating, either (a) there exists a Company Rating by Standard & Poor's which is equal to BBB- or (b) there exists a Company Rating by Moody's which is equal to Baa3. For purposes of this definition, the Company shall be deemed not to have a Level IV Rating if no Company Rating exists or if each Company Rating which would otherwise qualify as a Level IV Rating has been stated by the relevant rating agency to be under review for possible downgrading as a result of a specific or proposed action by the Company.
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Examples of Level IV Rating in a sentence

  • Xxxxxxxxxx Title: Vice President SCHEDULE I FACILITY FEE AND APPLICABLE MARGIN *RATING LEVELS Rating Level Level I Rating Level Level II Rating Level Level III Rating Level Level IV Rating Level Level V If the Borrower’s senior unsecured long- term debt is rated A+ or higher by S&P or A1 or higher by Xxxxx’x.

  • The Company shall pay to the Agent for ------------ the account of the Banks ratably a facility fee at the rate of (i) for any day on which the Company has a Level I Rating, .035 of 1% per annum, (ii) for any day on which the Company has a Level II Rating, .050 of 1% per annum, (iii) for any day on which the Company has a Level III Rating, .070 of 1% per annum and (iv) for any day on which the Company has a Level IV Rating, .100 of 1% per annum.

  • SCHEDULE I FACILITY FEE AND APPLICABLE MARGIN Rating Level Level I Rating Level Level II Rating Level Level III Rating Level Level IV Rating Level Level V *RATING LEVELS If the Borrower’s senior unsecured long-term debt is rated A+ or higher by S&P or A1 or higher by Xxxxx’x.


More Definitions of Level IV Rating

Level IV Rating means, with respect to any Borrower, (i) if S&P and/or Moody's has assigned a rating to the senior unsecured long-term debt of such Borrower, then ratings (if assigned) of below A+ from S&P and below A1 from Moody's, or (ii) if neither S&P nor Moody's has assigned a rating to the senior unsecured long-term debt of such Borrower, then public commercial paper ratings of less than A-2 from S&P and less than P-2 from Moody's.
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Level IV Rating means, for the applicable rating agency: the Borrower’s Moody’s Rating is Baa3 or better; the Borrower’s Fitch Rating is BBB- or better; Borrower’s S&P Rating is BBB or better.
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Level IV Rating means the rating established by each Rating Agency as being one rating level immediately below the Level V Rating, it being understood that as of the date of this Agreement the "Level IV Rating" of S&P is BBB- and the "Level IV Rating" of Xxxxx'x is Baa3.
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Level IV Rating means, with respect to the rating of short-term unsecured debt securities by S&P and/or Xxxxx'x, at least A2 in the case of S&P or P2 in the case of Xxxxx'x.
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Level IV Rating means a senior unsecured long-term debt rating of below AA- from S&P, or an Equivalent Rating.
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Related to Level IV Rating

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

  • 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.

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

  • 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.

  • Credit Rating means, with respect to any entity, the rating then assigned to such entity’s unsecured, senior long-term debt obligations (not supported by third party credit enhancements) or if such entity does not have a rating for its senior unsecured long-term debt, then the rating then assigned to such entity as an issuer rating by S&P, Moody’s or any other rating agency agreed by the Parties as set forth in the Cover Sheet.

  • Pricing Level III shall exist on an Adjustment Date if the Consolidated Leverage Ratio for the relevant period is less than 3.75 to 1.00 but greater than or equal to 3.25 to 1.00.

  • Pricing Level I shall exist on an Adjustment Date if the Consolidated Leverage Ratio for the relevant period is greater than or equal to 3.50 to 1.00.

  • Pricing Level II shall exist on an Adjustment Date if the Consolidated Leverage Ratio for the relevant period is less than 3.50 to 1.00 but greater than or equal to 3.00 to 1.00.

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