Rating Grade definition

Rating Grade means and refer to the different debt ratings (for example, A1, A2, A3 for Moody's and A+, A and A- for Standard & Poor's) within any particular debt rating category (in the foregoing example, the rating category of "A" for both Moody's and Standard & Poor's). Any adjustment required in the Margin Percentages as a result of a change in ratings as provided hereinabove shall be effective as of the tenth (10th) Business Day after the effective date of such change.
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Rating Grade means and refer to the different debt ratings (for example, A1, A2, A3 for Moody's and A+, A an▇ ▇- ▇▇r Standard & Poor's) within any particular debt rating category (in the foregoing example, the rating category of "A" for both Moody's and Standard & ▇▇▇▇'s). Within ten (10) Business Days of the Borrower's attaining knowledge of a change in either Moody's or Standard & ▇▇▇▇'s rating of the Borrower's senior unsecured long-term publicly traded Indebtedness, the Borrower shall notify the Agent, and any adjustment required in the Applicable Margin Percentages as a result of a change in such ratings shall be effective as of the earlier of the date such notice is received by the Agent or the 10th Business Day after the effective date of such change.
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Related to Rating Grade

  • 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.

  • Existing grade means the natural surface contour of a site, including minor adjustments to the surface of the site in preparation for construction.

  • Passing grade means work of such character that credit would be entered on the records were the semester to close at that time.

  • Investment Grade Credit Rating means (a) with respect to Fitch, a credit rating of BBB- or higher, (b) with respect to ▇▇▇▇▇’▇, a credit rating of Baa3 or higher and (c) with respect to S&P, a credit rating of BBB- or higher.

  • ▇▇▇▇▇’▇ Rating means, at any time, the rating issued by ▇▇▇▇▇’▇ and then in effect with respect to the Borrower’s senior unsecured long-term debt securities without third-party credit enhancement.