Category 2 Status definition

Category 2 Status exists at any date if at such date (i) the Public ----------------- Debt Rating announced by S&P is A (or the equivalent) or better or the -- Public Debt Rating announced by ▇▇▇▇▇'▇ is A2 (or the equivalent) or better, and (ii) Category 1 Status does not exist.
View Source

Related to Category 2 Status

  • Level V Status exists at any date if, on such date, the Borrower has not qualified for Level I Status, Level II Status, Level III Status or Level IV Status.

  • Level VI Status exists at any date if, on such date, the Borrower has not qualified for Level I Status, Level II Status, Level III Status, Level IV Status or Level V Status.

  • Level III Status exists at any date if, on such date, (i) the Borrower has not qualified for Level I Status or Level II Status and (ii) the Borrower's ▇▇▇▇▇'▇ Rating is Baa2 or better or the Borrower's S&P Rating is BBB or better.

  • Level I Status exists at any date if, as of the last day of the fiscal quarter of the Borrower referred to in the most recent Financials, the Leverage Ratio is less than 1.00 to 1.00.

  • Level IV Status exists at any date if, on such date, (i) the Borrower has not qualified for Level I Status, Level II Status or Level III Status and (ii) the Borrower's ▇▇▇▇▇'▇ Rating is Baa3 or better or the Borrower's S&P Rating is BBB- or better.