Weighted Average Rating means, as of any date of determination, the number obtained by (a) multiplying the Notional Amount of each Reference Obligation by the applicable Rating Factor (as set forth in Table 2 below) for the related Reference Entity; (b) summing the products obtained in clause (a) for all Reference Obligations; and (c) dividing the sum obtained in clause (b) by the aggregate of the Notional Amounts of all Reference Obligations.
Weighted Average Rating means, as of any date of determination, the number obtained by (a) multiplying the Notional Amount of each Reference Obligation that is not a Specified Reference Obligation by the applicable Rating Factor (as set forth in Table 2 below) for the related Reference Entity; (b) summing the products obtained in clause (a) for all Reference Obligations that are not Specified Reference Obligations; and (c) dividing the sum obtained in clause (b) by the aggregate of the Notional Amounts of all Reference Obligations that are not Specified Reference Obligations.
Weighted Average Rating means the number obtained by (a) multiplying the Principal Balance of each Collateral Loan (excluding any Defaulted Loan) by its S&P Rating Factor on any date of determination; (b) summing the products obtained in clause (a) for all Collateral Loans; (c) dividing the sum obtained in clause (b) by the Aggregate Principal Balance of all Collateral Loans (excluding any Defaulted Loan that is not a Current Pay Obligation) on such date of determination; and (d) rounding the result to the nearest whole number; provided that any Collateral Loans the ratings of which have been determined by the Services Provider for the period set forth in clause (d) of the definition of “S&P Rating” shall be excluded from the calculations made under this definition for the duration of such period.
Examples of Weighted Average Rating in a sentence
As discussed in EJR's CLO Methodology, EJR attempts to calculate the weighted average default probability of the portfolio by using EJR's Weighted Average Rating Score (WARS) approach.
The value calculated by multiplying the Principal Balance for each S&P CLO Specified Asset by the absolute value of the difference between the S&P Rating Factor and the S&P Weighted Average Rating Factor, then summing the total for the portfolio, then dividing this result by the Aggregate Principal Balance of the S&P CLO Specified Assets.
The average portfolio credit rating is calculated in accordance with the methodology issued by the credit agency Moody’s (Weighted Average Rating Methodology) in which the investments are weighted according to the value of their carrying amounts.
Each of the Diversity Test, the Weighted Average Rating Factor Test, the Minimum Weighted Average Spread Test, the Moody’s Weighted Average Recovery Rate Test and the Weighted Average Maturity Test.
The S&P Weighted Average Rating Factor, the Default Rate Dispersion, the Obligor Diversity Measure, the Industry Diversity Measure, the Regional Diversity Measure and the S&P Weighted Average Life.
More Definitions of Weighted Average Rating
Weighted Average Rating means, as of any date of determination, the number obtained by applying the following procedures: (i) multiplying the Adjusted Principal Amount of each Collateral Obligation (excluding the unfunded portion of any Revolving Collateral Loan or Delayed Drawdown Collateral Loan and excluding any Defaulted Obligation) by its Xxxxx’x Rating Factor on any date of determination; (ii) summing the products determined pursuant to clause (i) for all Collateral Obligations; (iii) dividing the sum determined pursuant to clause (ii) by the aggregate Adjusted Principal Amount of all Collateral Obligations (excluding the unfunded portion of any Revolving Collateral Loan or Delayed Drawdown Collateral Loan and excluding any Defaulted Obligation) on such date of determination; and (iv) rounding the result determined pursuant to clause (iii) to the nearest whole number.
Weighted Average Rating means the number obtained by (a) multiplying the Principal Balance of each Underlying Asset (excluding any Defaulted Obligation) by its Moody's Rating Factor on any Measurement Date; (b) summing the products obtained in clause (a) above for all Underlying Assets; (c) dividing the sum obtained in clause (b) above by the Aggregate Principal Balance on such Measurement Date of all Underlying Assets (excluding any Defaulted Obligation); and (d) rounding the result to the nearest whole number.
Weighted Average Rating means, as of any date of determination, the number obtained by (a) multiplying the Notional Amount of each Reference Obligation by the applicable Rating Factor (as set forth in Table 2 below) for the related Reference Entity; (b) summing the products obtained in clause (a) for all Reference Obligations; and (c) dividing the sum obtained in clause (b) by the aggregate of the Notional Amounts of all Reference Obligations. Bank of America, NA The Bank of New York Mellon, N.A. The Bank of Nova Scotia Barclays Bank plc BNP Paribas Canadian Imperial Bank of Commerce Citibank, N.A. Credit Suisse Deutsche Bank XX Xxxxxxx Xxxxx & Co. HSBC Bank Xxxxxxxxx LLC JPMorgan Chase Bank, X.X. Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated Xxxxxx Xxxxxxx & Co. Royal Bank of Canada The Bank of Montreal The Royal Bank of Scotland plc The Toronto-Dominion Bank UBS AG U.S. Bank, National Association Xxxxx Fargo Bank, National Association Aerospace and Defense: Major Contractor, Subsystems, Research, Aircraft Manufacturing, Arms, Ammunition Automobile: Automotive Equipment, Auto-Manufacturing, Auto Parts Manufacturing, Personal Use Trailers, Motor Homes, Dealers Banking: Bank Holding, Savings and Loans, Consumer Credit, Small Loan, Agency, Factoring, Receivables Beverage, Food and Tobacco: Beer and Ale, Distillers, Wines and Liquors, Distributors, Soft Drink Syrup, Bottling, Bakery, Mill Sugar, Canned Foods, Corn Refiners, Dairy Products, Meat Products, Poultry Products, Snacks, Packaged Foods, Distributors, Candy, Gum, Seafood, Frozen Food, Cigarettes, Cigars, Leaf/Snuff, Vegetable Oil Buildings and Real Estate: Brick, Cement, Climate Controls, Contracting, Engineering, Construction, Hardware, Forest Products (building-related only), Plumbing, Roofing, Wallboard, Real Estate, Real Estate Development, REITs, Land Development Chemicals, Plastics and Rubber: Chemicals (non-agriculture), Industrial Gases, Sulfur, Plastics, Plastic Products, Abrasives, Coatings, Paints, Varnish, Fabricating Containers, Packaging and Glass: Glass, Fiberglass, Containers made of: Glass, Metal, Paper, Plastic, Wood or Fiberglass Personal and Non Durable Consumer Products (Manufacturing Only): Soaps, Perfumes, Cosmetics, Toiletries, Cleaning Supplies, School Supplies Diversified Natural Resources, Precious Metals and Minerals: Fabricating, Distribution, Mining and Sales Ecological: Pollution Control, Waste Removal, Waste Treatment, Waste Disposal Electronics: Computer Hardware, Electric Equipment, Com...
Weighted Average Rating means the number obtained by (a) multiplying the Principal Balance of each Collateral Obligation (excluding any Defaulted Obligation) by its Xxxxx’x Rating Factor on any date of determination; (b) summing the products obtained in clause (a) for all Collateral Obligations; (c) dividing the sum obtained in clause (b) by the Aggregate Principal Balance of all Collateral Obligations (excluding any Defaulted Obligation) on such date of determination; and (d) rounding the result to the nearest whole number; provided that any Collateral Obligations the ratings of which have been determined by the Portfolio Manager in accordance with Section 5.01(k) pending receipt of a rating or a Credit Estimate (and for which there is not also an existing rating or Credit Estimate from another rating agency) shall be excluded from the calculations made until such rating or Credit Estimate is actually received.
Weighted Average Rating means the number obtained by (a) multiplying the Principal Balance of each Collateral Obligation (excluding any Defaulted Obligation) by its Moody's Rating Factor on any Measurement Date; (b) summing the products obtained in clause (a) for all Collateral Obligations; (c) dividing the sum obtained in clause (b) by the Aggregate Principal Balance on such Measurement Date of all Collateral Obligations (excluding any Defaulted Obligation); and (d) rounding the result to the nearest whole number.
Weighted Average Rating means, as of any date of determination, the number obtained by (a) multiplying the Purchase Amount of each Debt Obligation held by the Borrower on such date by the applicable Rating Factor (as set forth in table below); (b) summing the products obtained in clause (a) for all such Debt Obligations; and (c) dividing the sum obtained in clause (b) by the aggregate of the Purchase Amounts of all such Debt Obligations.
Weighted Average Rating. As of any date of determination, the numerical average Moody’s debt rating obtained by (a) multiplying the Principal Balance of each Collateral Debt Obligation (excluding any Defaulted Securities) as of such date by the applicable Xxxxx’x Rating Factor for such Collateral Debt Obligation as indicated in the table below; (b) summing the products obtained in clause (a) for all such Collateral Debt Obligations; and (c) dividing the sum obtained in clause (b) by the Aggregate Principal Amount of all Collateral Debt Obligations (excluding any Defaulted Securities) as of such date.