Speculative Grade definition

Speculative Grade. BB: Speculative. "
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Speculative Grade means a credit quality rating of B-, B3 or its credit equivalent, or above but below Investment Grade, as rated by an internationally recognized rating agency in line with applicable regulations. Where an investment has three or more ratings leading to different assessments, the lower of the two best credit ratings shall be taken. Where an investment has two ratings, the lower rating shall be taken. If an investment is unrated by an internationally recognized rating agency, its credit quality will be determined by the Investment Manager (or its delegate) in its discretion in line with applicable regulations.
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Speculative Grade means, with respect to any Person, a Long-Term Debt Rating for such Person of BB+ and Ba1 or lower by S&P and Moody's, respectively, or, alternatively, a Long-Term Debt Rating for such Person from PSE’s credit department equivalent to BB+ or lower.
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Examples of Speculative Grade in a sentence

  • Moody’s also affirmed the Speculative Grade Liquidity rating of SGL-2, signifying good liquidity and changed the rating outlook to negative from stable.

  • Underwriters have given up their former role as gatekeepers of liquidity and certification agencies to become aggressive competitors in a new Speculative Grade market.

  • CaesarsPrior to the commencement of the Offer Period, Caesars had been assigned a long term credit rating and long term corporate family credit rating of B2, outlook Negative, and a Speculative Grade Liquidity Rating of SGL-1 by Moody’s, and long term foreign and long term local issuer credit ratings of B, outlook Negative, by S&P.

  • Moody’s also downgraded to Speculative Grade (SG) from VMIG 3 the short-term rating on the City's outstanding Sales Tax Revenue Refunding Bonds, Variable Rate Series 2002.

  • Final interviews take place in either the select student’s governorate or a neighboring governorate.

  • The present study will focus on the so-called Plus or Minus (POM) and Investment Grade vs Speculative Grade (IGSG) tests constructed by Kisgen (2006) in the empirical investigation of his CR-CS hypothesis.

  • The First Citizens Group considers a financial instrument to have experienced a significant increase in credit risk when one or more of the following criteria have been met: CriteriaInvestment Grade PortfolioSingle “B” Speculative Grade PortfolioAbsolute MeasurePD- 15% or higherPD -25% or higher The First Citizens Group has not used the low credit risk exemption for any financial instruments in the year ended 30 September 2019.

  • Moody’s also gave the exit financing facility a Corporate Family rating of B1 and a Speculative Grade Liquidity Assessment Rating of 2.

  • The Rule does contemplate that each party will file a single opening brief, but Smith did not do otherwise; neither of the pro se motions he filed can be fairly characterized as an attempt to file a second opening brief.

  • Speculative Grade BB, B, CCC, CC, C: Debts rated "BB", "B", "CCC", "CC" and "C" are regarded as having significant speculative characteristics.

Related to Speculative Grade

  • 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.

  • Investment Grade means a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating categories of Moody’s); a rating of BBB- or better by S&P (or its equivalent under any successor rating categories of S&P); and the equivalent investment grade credit rating from any additional Rating Agency or Rating Agencies selected by the Company.

  • Commodity contract means a commodity futures contract, an option on a commodity futures contract, a commodity option, or another contract if the contract or option is:

  • 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 Xxxxx'x. For any short-term deposit or security, a rating of "A-l+" in the case of S&P or "P-1" in the case of Xxxxx'x.

  • Finished grade means the approved elevation of ground surface of lands upon which fill has been placed in accordance with this By-law;

  • Highest adjacent grade means the highest natural elevation of the ground surface prior to construction next to the proposed walls of a structure.

  • Commodity Hedging Agreements means, in respect of a Person, any commodity purchase contract, commodity futures or forward contract, commodities option contract or other similar contract (including commodities derivative agreements or arrangements), to which such Person is a party or a beneficiary.

  • Commodity Interests means commodity futures contracts, options on commodity futures contracts, and options on physical commodities traded on or subject to the rules of:

  • Investment Grade Securities means:

  • Commodity Hedging Agreement means any agreement with respect to a commodity swap or other agreement regarding the hedging of commodity purchase and sale exposure executed in connection with hedging the commodity purchase and sale exposure of the Borrower and its Subsidiaries, and any confirming letter executed pursuant to such commodity hedging agreement, all as amended, restated or otherwise modified.

  • Credit Rating means the rating assigned by a Rating Agency to the senior unsecured long term Indebtedness of a Person.

  • Permitted Asset Swap means the concurrent purchase and sale or exchange of assets used or useful in a Similar Business or a combination of such assets and cash, Cash Equivalents between the Company or any of its Restricted Subsidiaries and another Person; provided that any cash or Cash Equivalents received in excess of the value of any cash or Cash Equivalents sold or exchanged must be applied in accordance with Section 3.5 hereof.

  • Forward Hedge Amount means, for any Forward, the amount specified as such in the Placement Notice for such Forward (as amended by the corresponding Acceptance, if applicable), which amount shall be the target Aggregate Sales Price of the Forward Hedge Securities to be sold by the Forward Seller or an Alternative Forward Seller in respect of such Forward, subject to the terms and conditions of this Agreement or the Alternative Distribution Agreement, as applicable.

  • Poverty level means the annual family income for a family unit of a particular size, as specified in the poverty guidelines updated annually in the Federal Register by the U.S. Department of Health and Human Services.

  • Eligible In-Transit Inventory means, as of any date of determination thereof, without duplication of other Eligible Inventory, In-Transit Inventory:

  • Permitted Bond Hedge Transaction means any call or capped call option (or substantively equivalent derivative transaction) on the Parent’s common Equity Interests purchased by the Parent in connection with the issuance of any Convertible Indebtedness; provided that the purchase price for such Permitted Bond Hedge Transaction does not exceed the net proceeds received by the Parent from the sale of such Convertible Indebtedness issued in connection with the Permitted Bond Hedge Transaction.

  • Highest Adjacent Grade (HAG means the highest natural elevation of the ground surface, prior to construction, immediately next to the proposed walls of the structure.

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

  • Hedging Arrangement means a hedge, call, swap, collar, floor, cap, option, forward sale or purchase or other contract or similar arrangement (including any obligations to purchase or sell any commodity or security at a future date for a specific price) which is entered into to reduce or eliminate or otherwise protect against the risk of fluctuations in prices or rates, including interest rates, foreign exchange rates, commodity prices and securities prices.

  • Gross vehicle weight rating means the weight specified by the manufacturer as the loaded weight of a single vehicle.

  • Investment Grade Account Debtor means an Account Debtor that, at the time of determination, has a corporate credit rating and/or family rating, as applicable, of BBB- or higher by S&P or Baa3 or higher by Moody’s.

  • Lowest Adjacent Grade (LAG means the elevation of the ground, sidewalk or patio slab immediately next to the building, or deck support, after completion of the building.

  • Pay grade means the monthly salary applicable to class titles of service personnel;

  • Hedging Arrangements means, with respect to any Person, any agreements or other arrangements (including interest rate swap agreements, interest rate cap agreements and forward sale agreements) entered into to protect that Person against changes in interest rates or the market value of assets.

  • Hedging Disruption means that the Issuer is unable, after using commercially reasonable efforts, to (A) acquire, establish, re-establish, substitute, maintain, unwind or dispose of any transaction(s) or asset(s) it deems necessary to hedge the risk of issuing and performing its obligations with respect to the Securities, or (B) realise, recover or remit the proceeds of any such transaction(s) or asset(s).

  • Money Market Margin has the meaning set forth in Section 2.03(d)(ii)(C).