Unsupported Minimum Counterparty Rating definition

Unsupported Minimum Counterparty Rating and "Supported Minimum Counterparty Rating" shall mean the long-term IDR, the short-term IDR or, if assigned, the DCR (as applicable) from Fitch corresponding to the then current rating of the Relevant Notes as set out in the following table: Current rating of Relevant Notes Unsupported Minimum Counterparty Rating Supported Minimum Counterparty Rating AAAsf A or F1 BBB- or F3 AAsf A- or F1 BBB- or F3 Asf BBB or F2 BB+ BBBsf BBB- or F3 BB- BBsf At least as high as the Relevant Notes Fitch rating B+ Bsf At least as high as the Relevant Notes Fitch rating B-
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Unsupported Minimum Counterparty Rating and "Supported Minimum Counterparty Rating" shall mean the Long-Term Fitch Rating or the Fitch short- term IDR from Fitch corresponding to the then-current rating of the Relevant Notes as set out in the following table: Current rating of Relevant Notes Unsupported Minimum Counterparty Ratings Supported Minimum Counterparty Ratings Supported Minimum Counterparty Ratings (adjusted) AAAsf A or F1 BBB- or F3 BBB+ or F2 AA+sf, AAsf, AA-sf A- or F1 BBB- or F3 BBB+ or F2 A+sf, Asf, A-sf BBB or F2 BB+ BBB or F2 BBB+sf, BBBsf, BBB-sf BBB- or F3 BB- BBB- or F3 BB+sf, BBsf, BB- sf At least as high as the Relevant Notes rating B+ BB- B+sf, Bsf, B-sf At least as high as the Relevant Notes rating B- B- If an entity is not incorporated in the same jurisdiction as Party B and, following a request from Fitch, has not provided to Fitch a legal opinion, in a form acceptable to Fitch, confirming the enforceability of the subordination provisions against it in its jurisdiction, references in this Agreement to "Supported Minimum Counterparty Rating" shall be deemed to refer to "Supported Minimum Counterparty Rating (adjusted)" in respect of such entity. For the purposes of the above table, if the Relevant Notes are downgraded by Fitch as a result of Party A's failure to perform any obligation under this Agreement, then the then current rating of the Relevant Notes will be deemed to be the rating the Relevant Notes would have had but for such failure.
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Related to Unsupported Minimum Counterparty Rating

  • 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.

  • 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 public debt securities without third-party credit enhancement (it being understood that if the Borrower does not have any outstanding debt securities of the type described above but has an indicative rating from S&P for debt securities of such type, then such indicative rating shall be used for determining the “S&P Rating”).

  • 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.

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

  • Required Rating means, in the case of Moody's, the rating assigned to the Underlying Securities by Moody's as of the Closing Date, and, in the case of S&P, the rating assigned to the Underlying Securities by S&P as of the Closing Date.

  • Highest Rating Category means, with respect to an Eligible Investment, that the Eligible Investment is rated by each Rating Agency in the highest rating given by that Rating Agency for that general category of security. If at any time the Bonds are not rated (and, consequently, there is no Rating Agency), then the term “Highest Rating Category” means, with respect to an Eligible Investment, that the Eligible Investment is rated by S&P or Moody’s in the highest rating 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 (a) the Bonds are not rated, (b) both S&P and Moody’s rate an Eligible Investment and (c) one of those ratings is below the Highest Rating Category, then such Eligible 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, an Investment rated “AAA” by S&P and “Aa3” by Xxxxx’x 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 Eligible Investment will be deemed to be rated below the Highest Rating Category. For example, an Eligible Investment rated “AAA” by S&P and “A1” by Xxxxx’x is not rated in the Highest Rating Category.

  • Senior Debt Rating means at any date, the credit rating identified by S&P, Fitch or Xxxxx’x as the credit rating which (a) it has assigned to long term senior unsecured debt of the Borrower or (b) it would assign to long term senior unsecured debt of the Borrower were the Borrower to issue or have outstanding any long term senior unsecured debt on such date. For the avoidance of doubt, “Senior Debt Rating” is not the Borrower’s “Corporate/Long-Term Issuer” rating.