Lowest Credit Rating definition

Lowest Credit Rating means the lowest of the senior unsecured long-term debt ratings determined by Xxxxx’x Investor Services, Inc. (or its successor) (“Moody’s”), the Standard & Poor’s Rating Group, a division of XxXxxx-Xxxx, Inc., (or its successor) (“S&P”), or Fitch Investor Service, Inc. (or its successor) (“Fitch”) immediately before such transfer and assumption. Upon any such delegation and assumption of obligations by a successor Guarantor, the Guarantor shall be relieved of and fully discharged from all of its obligations hereunder, whether such obligations arose before or after the date of such delegation and assumption.
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Lowest Credit Rating means the lowest of the senior unsecured long-term debt ratings (or, if unavailable, the most current corporate issuer rating) determined by Xxxxx’x Investor Services, Inc. (or its successor) (“Moody’s”), the Standard & Poor’s Rating Group, a division of XxXxxx-Xxxx, Inc., (or its successor) (“S&P”), or Fitch Investor Service, Inc. (or its successor) (“Fitch”) immediately before such transfer and assumption. Upon any such delegation and assumption of obligations by a successor Guarantor, the Guarantor shall be relieved of and fully discharged from all of its obligations hereunder, whether such obligations arose before or after the date of such delegation and assumption.
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Lowest Credit Rating means the lowest of the senior unsecured long-term debt ratings (or, if unavailable, the most current corporate issuer rating) determined by S&P, Moody’s or Fitch immediately before such transfer and assumption. Upon any such delegation and assumption of obligations by a successor Guarantor, the Guarantor shall be relieved of and fully discharged from all of its obligations hereunder, whether such obligations arose before or after the date of such delegation and assumption.
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Examples of Lowest Credit Rating in a sentence

  • Counterparty Lowest Credit Rating Type of Investment As at 1 April 2012 Table 18 –Investment summary.


More Definitions of Lowest Credit Rating

Lowest Credit Rating means the lowest of the senior unsecured long-term debt ratings determined by Xxxxx’x Investor Services, Inc. (or its successor) (“Moody’s”), the Standard & Poor’s Rating Group, a division of XxXxxx-Xxxx, Inc., (or its successor) (“S&P”), or Fitch Investor Service, Inc. (or its successor) (“Fitch”) immediately before such transfer and assumption. Upon any such delegation and assumption of obligations by a successor Guarantor, the Guarantor shall be relieved of and fully discharged from all of its obligations hereunder, whether such obligations arose before or after the date of such delegation and assumption. Neither this Guarantee nor any Obligation hereunder may be transferred other than in accordance with the express provisions of the SMA(s). Any such transfer shall be effective against Guarantor only upon receipt by Guarantor of written notice of such transfer. This change is not acceptable.
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Lowest Credit Rating means the lowest of the senior unsecured long-term debt ratings (or, if unavailable, the most current corporate issuer rating) determined by Xxxxx’x Investor Services, Inc. (or its successor) (“Mood y’s”), the Standard & Poor’s Rating Group, a division of XxXxxx-Xxxx, Inc., (or its successor) (“S&P”), or Fitch Investor Service, Inc. (or its successor) (“Fitch”) Xxxxx’x, S&P, or Fitch immediately before such transfer and assumption. Upon any such delegation and assumption of obligations by a successor Guarantor, the Guarantor shall be relieved of and fully discharged from all of its obligations hereunder, whether such obligations arose before or after the date of such delegation and assumption.
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Lowest Credit Rating means the lowest of the senior unsecured long-term debt ratings determined by Xxxxx’x Investor Services, Inc. (or its successor) (“Xxxxx’x”), the Standard & Poor’s Rating Group, a division of XxXxxx- Xxxx, Inc., (or its successor) (“S&P”), or Fitch Investor Service, Inc. (or its successor)
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Lowest Credit Rating means the lowest currently maintained senior unsecured credit rating (or issuer rating where such Person has no senior unsecured rating) by Standard and Poor’s Rating Group, Moxxx’x Xnvestor Services Inc., or Fitch Ratings, or any entity succeeding the business and function thereof, where such Person has a senior unsecured or issuer rating.
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Related to Lowest Credit Rating

  • 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.

  • Highest Credit Rating Available The highest rating category (disregarding any plus or minus or any numerical or other subcategory) of any Rating Agency. Holders: All of the Certificateholders.

  • Applicable Credit Rating For any long-term deposit or security, a credit rating of AAA in the case of S&P or Aaa in the case of Moody's. For any shxxx-xxxm deposit or security, or a rating of A-l+ in the case of S&P or P-1 in the case of Moody's.

  • Credit Rating Agency means a nationally recognized credit rating agency that evaluates the financial condition of issuers of debt instruments and then assigns a rating that reflects its assessment of the issuer’s ability to make debt payments.

  • Acceptable Credit Rating means a minimum long term credit rating of either BBB from Standard & Poors or Baa2 from Xxxxx’x; Access Undertaking means:

  • 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.

  • 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.

  • Applicable Rating Level at any time shall be determined in accordance with the then-applicable S&P Rating or the then-applicable Xxxxx’x Rating as follows: S&P Rating/Xxxxx’x Rating Applicable Rating Level S&P Rating AA or higher or Xxxxx’x Rating Aa2 or higher 1 S&P Rating AA- or Xxxxx’x Rating Aa3 2 S&P Rating A+ or Xxxxx’x Rating A1 3 S&P Rating A or Xxxxx’x Rating A2 4 S&P Rating A- or below or Xxxxx’x Rating A3 or below or unrated 5 The Applicable Rating Level for any day shall be determined based upon the higher of the S&P Rating and the Xxxxx’x Rating 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 (better) of such ratings shall control, unless the ratings differ by more than one level, in which case the rating one level below the higher of the two ratings shall control.

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

  • 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 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.

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

  • Required Deposit Rating A rating on short-term unsecured debt obligations of P-1 by Xxxxx’x Investors Service, Inc. and A-2 by S&P Global Ratings. Any requirement that short-term unsecured debt obligations have the “Required Deposit Rating” shall mean that such short-term unsecured debt obligations have the foregoing required ratings from each of such applicable rating agencies.

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

  • DBRS means DBRS, Inc., and its successors in interest.

  • 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.

  • Pricing Level refers to the determination of which of Level I, Level II, Level III, Level IV, Level V or Level VI applies at any date.

  • Rating Agency Discount Factor means the Fitch Discount Factor (if Fitch is then rating Preferred Shares) or an Other Rating Agency Discount Factor, whichever is applicable.

  • 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.

  • Risk Rating means, with respect to any Loan at any time, if such Loan is at such time (i) rated by both S&P and Moody’s, the lower of such ratings, (ii) rated by either S&P or Moody’s, such rating or (iii) not rated by either S&P or Moody’s, the rating determined by the Servicer’s risk rating model.

  • 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.

  • 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:

  • S&P Global Ratings means S&P Global Ratings, a division of S&P Global.

  • Fitch means Fitch Ratings, Inc., and its successors in interest.

  • Applicable Pricing Level means, for each Pricing Period the pricing level set forth below opposite the Debt Rating achieved by Borrower as of the first day of that Pricing Period: Pricing Level Debt Rating I Greater than or equal to A1 / A+ II Less than A1 / A+ but greater than or equal to A2 / A III Less than A2 / A but greater than or equal to A3 / A- V Less than Baa2/BBB provided that in the event that the then prevailing Debt Ratings are “split ratings”, Borrower will receive the benefit of the higher Debt Rating, unless the split is a “double split rating” (in which case the pricing level applicable to the middle Debt Rating will apply) or a “triple split rating” (in which case the pricing level applicable to the Debt Rating above the Debt Rating applicable to the lowest pricing level will apply). For purposes hereof, a Debt Rating is only a “split rating” if the Debt Rating applies to a different pricing level.