Level V Rating definition

Level V Rating as of any date, such Level shall apply if the Company’s assigned Credit Rating as of such date is below A3 by Moody’s, below A- by S&P and below A- by Fitch.
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Level V Rating means the rating established by each Rating Agency as being one rating level immediately below the Level VI Rating, it being understood that as of the date of this Agreement the "Level V Rating" of S&P is BBB and the "Level V Rating" of Xxxxx'x is Baa2.
Sample 1
Level V Rating means, with respect to the rating of short-term unsecured debt securities by S&P and/or Xxxxx'x, at least A3 in the case of S&P or P3 in the case of Xxxxx'x. "Level V Status" exists at any date if, on such date, neither Level I Status nor Level II Status nor Level III Status nor Level IV Status exists and the Company's short-term unsecured debt securities that do not have the benefit of credit enhancement from any third party (or if, on such date, the Company has no such short-term unsecured debt securities that are rated by S&P and Xxxxx'x, JHCC's short-term unsecured debt securities that do not have the benefit of credit enhancement from any third party other than the Company) are rated the Level V Rating. "Level VI Status" exists on any date on which, neither Level I Status nor Level II Status nor Level III Status nor Level IV Status nor Level V Status exists.
Sample 1

Related to Level V 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.

  • 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.

  • 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.

  • Pricing Level V any time when (i) the senior unsecured long term debt rating of the Borrower by (x) S&P is BBB‑ or higher or (y) Xxxxx’x is Baa3 or higher and (ii) none of Pricing Level I, Pricing Level II, Pricing Level III or Pricing Level IV applies.

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

  • 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.