Investment Grade Credit Rating definition

Investment Grade Credit Rating means (i) a Credit Rating of Baa3 or higher given by Xxxxx’x, (ii) a Credit Rating of BBB- or higher given by S&P or (iii) a Credit Rating of BBB- or higher given by Fitch.

Investment Grade Credit Rating means receipt of at least two Debt Ratings of Baa3 or better from Moody’s or BBB- or better from S&P or Fitch.

Investment Grade Credit Rating means, with respect to the Borrower, a Credit Rating of at least BBB- by S&P, Baa3 by Moody’s or BBB- by Fitch, and such rating shall not be accompanied by (a) in the case of S&P, a negative outlook, creditwatch negative or the equivalent thereof, (b) in the case of Moody’s, a negative outlook, a review for possible downgrade or the equivalent thereof or (c) in the case of Fitch, a negative watch or the equivalent thereof.

Examples of Investment Grade Credit Rating in a sentence

• At any time after the Borrower receives an Investment Grade Credit Rating, the Borrower may, so long as no Default then exists and is continuing, irrevocably elect (an “Interest Rate Election”) by written notice to the Administrative Agent, accompanied by reasonable evidence of the Borrower’s Credit Ratings, that the interest rate and fee margins set forth in clause (b) of the definition of “Applicable Margin” herein shall at all times thereafter be applicable to all credit extensions under this Agreement.

• The Issuer will notify the Calculation Agent and the Holders not later than ten (10) calendar days after the date which is six (6) months after the date of the Change of Control whether or not it has obtained such an Investment Grade Credit Rating.

• At any time, Seller shall have the option to provide or replace the Decommissioning Bond with a guaranty from an entity with an Investment Grade Credit Rating and in form and substance reasonably acceptable to Purchaser.

• The Interest Rate increase set out in the preceding paragraph shall not be applied if prior to the date which is six (6) months after the date of the Change of Control the Issuer has obtained an Investment Grade Credit Rating.

• Permit Borrowing Base Indebtedness at any time to exceed the Borrowing Base (as set forth in the then most recent Borrowing Base Certificate delivered hereunder by Borrower to the Administrative Agent) if Borrower does not hold an Investment Grade Credit Rating at such time.

More Definitions of Investment Grade Credit Rating

Investment Grade Credit Rating means a rating of “BBB” or better from Standard and Poor’s, a division of McGraw-Hill Companies, Inc., or a rating of “Baa3” or better from Moody’s Investor Services.

Investment Grade Credit Rating means with respect to any Person, a rating of the long-term unsecured debt securities of such Person (or if such rating is unavailable, issuer rating) equal to or higher than (1) “BBB-” (or the equivalent) with a stable or better outlook by Standard & Poor’s Financial Services LLC, or (2) “Baa3” (or the equivalent) with a stable or better outlook by Xxxxx’x Corporation; provided, that if such Person has a rating from both Standard & Poor’s Financing Services LLC and Xxxxx’x Corporation, then the applicable rating shall be deemed to be the lower of the two.

Investment Grade Credit Rating means (i) a Credit Rating of Baa3 or higher given by Moody's or (ii) a Credit Rating of BBB- or higher given by S&P.

Investment Grade Credit Rating means a Credit Rating of BBB- or higher by S&P or Baa3 or higher by Moody’s.

Investment Grade Credit Rating means the rating assigned to the senior unsecured debt of the Issuer by any Rating Agency that is Baa3, BBB- or its equivalent for the time being or better.

Investment Grade Credit Rating means a Credit Rating of BBB- or higher from FitchRatings, Baa3 or higher from Moodys, and BBB- or higher from Standard and Poors, and such other similar minimum rating level from another similar nationally recognized Credit Rating firm as may reasonably attain a similar role in the future.

Investment Grade Credit Rating means, with respect to any Person, having a rating equal to or higher than Baa3 (or the equivalent) by Moody’s or BBB- (or the equivalent) by S&P.