Shadow Rating definition

Shadow Rating means the rating of the Series 2005-2 Notes by Standard & Poor’s or Xxxxx’x, as applicable, without giving effect to the Surety Bond.

Shadow Rating means a credit rating (not being an issuer credit rating) assigned to the Appointee by any reputable financial institution or firm of accountants applying principles, methodology and standards that are analogous to and consistent with those adopted by reputable credit rating agencies.

Shadow Rating means a metric developed by the Company to assess the creditworthiness of a tenant based on a review of corporate level financial information and assessment of business risks. A shadow rating does not constitute a published credit rating and lacks the extensive company participation that is typically involved when a rating agency publishes a rating and, accordingly, may not be as indicative of creditworthiness as a rating published by Moody’s, S&P, or another nationally recognized statistical rating organization;

Examples of Shadow Rating in a sentence

• In October 2008, the TJPA received Fitch Ratings’ Shadow Rating letter providing their favorable preliminary rating.

• The Borrower shall re-apply at least once every 12 months for a new Xxxxx’x Shadow Rating or S&P Shadow Rating, as applicable, with respect to each Loan having a Xxxxx’x Shadow Rating or S&P Shadow Rating, respectively, and shall pay all expenses associated with such application.

• No Series of Notes shall be issued under this Master Agreement unless (i) such Notes have been authorized pursuant to a Series Supplement, (ii) all conditions precedent to the issuance thereof, as specified in the related Series Supplement, shall have been satisfied and (iii) confirmation is obtained from the Rating Agencies that such issuance will not result in a change in any Facility Shadow Rating.

• The Borrower, BCC and the Master Agent Servicer shall, in consultation with the Agent, make a good faith effort to obtain a long-term shadow rating for the Advances from Xxxxx’x (or, to the extent the Agent determines that such a shadow rating is not available from Xxxxx’x, from Fitch) of not less than the Minimum Shadow Rating within one year of the Closing Date.

• Notwithstanding the foregoing, it is understood and agreed that, so long as the Borrower, BCC and the Master Agent Servicer make a good faith effort to obtain a Minimum Shadow Rating in accordance with the provisions of this paragraph, the failure to obtain such Minimum Shadow Rating will not constitute an Event of Default hereunder.

More Definitions of Shadow Rating

Shadow Rating means the rating of the Series 2003-2 Notes by Standard & Poor's or Xxxxx'x, as applicable, without giving effect to the Surety Bond.

Shadow Rating means the rating of the Class A Notes by Standard & Poor’s or Moody’s, as applicable, without giving effect to the Insurance Policy.

Shadow Rating means the rating of the Class A Notes by Standard & Poor’s or Xxxxx’x, as applicable, without giving effect to the Insurance Policy.

Shadow Rating means the rating of the Series 2006-1 Notes by Standard & Poor’s or Moody’s, as applicable, without giving effect to the Surety Bond.

Shadow Rating means the underlying rating for the time being assigned to the Wrapped Notes of the Issuer without taking account of the benefit of the Financial Guarantee;

Shadow Rating means rating of the Notes at investment grade by the Rating Agencies, without giving effect to the Policy.

Shadow Rating means the rating of the Series 2004-1 Notes without giving effect to the Insurance Policy.