Equivalent Rating definition

Equivalent Rating means in the case of any security not rated by S&P or Moody’s an equivalent rating to the relevant rating by S&P or Moody’s, which rating is issued by another Rating Agency as determined by the Investment Manager;
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Equivalent Rating as defined in the definition of “Applicable Margin”.
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Equivalent Rating means, in respect of a rating from a Rating Agency, the equivalent thereof resulting from any change in the rating system of such Rating Agency.
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Examples of Equivalent Rating in a sentence

  • The Tangible Net Worth percentage is comprised of one hundred percent (100%) of the Moody’s KMV Equivalent Rating.

  • The Tangible Net Worth percentage is comprised of fifty percent (50%) of the Market Participant’s lowest credit agency issuer rating and fifty percent (50%) of the Moody’s KMV Equivalent Rating, if reasonably applicable.

  • If a Moody’s KMV Equivalent Rating is not reasonably applicable, the Tangible Net Worth percentage is comprised of one hundred percent (100%) of the Market Participant’s lowest credit agency issuer rating.

  • Step 2 –Obtain the Market Participant’s Moody’s KMV Equivalent Rating.

  • For Rated and Unrated Public/Private Corporations or Rated Governmental Entities, the maximum percentage of Tangible Net Worth or Net Assets is 7.5 percent (7.5%) for the highest quality firms; that is, those Market Participants who maintain the highest Moody’s KMV Equivalent Rating and/or highest credit agency issuer rating.

  • In order to achieve its investment objective, each Fund may invest in equity securities, collective investment schemes, warrants, preference shares, depository receipts, fixed and floating rate bonds, debentures and other debt securities issued by government, local and public authorities and corporations each having an Investment Grade or a Sub- Investment Grade or Equivalent Rating, including securities convertible or exchangeable for equity and non-equity securities.

  • The Tangible Net Worth percentage is comprised of fifty percent (50%) of the Market Participant’s lowest credit agency issuer rating and fifty percent (50%) of the Moody’s Analytics Equivalent Rating, if reasonably applicable.

  • If a Moody’s Analytics Equivalent Rating is not reasonably applicable, the Tangible Net Worth percentage is comprised of one hundred percent (100%) of the Market Participant’s lowest credit agency issuer rating.

  • The Tangible Net Worth percentage is comprised of one hundred percent (100%) of the Moody’s Analytics Equivalent Rating.

  • Cash Equivalent Assets, the subject of Cash Equivalent Accounts, will be subject to a Cash Equivalent Rating.


More Definitions of Equivalent Rating

Equivalent Rating means with specific reference to senior debt ratings (or equivalent):
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Equivalent Rating means an equivalent rating as determined by the Relevant Rating Agency.
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Equivalent Rating means the rating by Xxxxx’x, Fitch or S&P that is set forth below under the applicable heading opposite the applicable “KBRA Rating” listed below. KBRA Rating Fitch Rating Xxxxx’x rating S&P rating AAA AAA Aaa AAA AA+ AA+ Aa1 AA+ AA AA Aa2 AA AA- AA- Aa3 AA- A+ A+ A1 A+ BBB+ BBB+ Baa1 BBB+ BBB BBB Baa2 BBB BBB- BBB- Baa3 BBB- BB+ BB+ Ba1 BB+ BB BB Ba2 BB BB- BB- Ba3 BB- B+ B+ B1 B+ B B B2 B B- B- B3 B- CCC+ CCC+ Caa1 CCC+ CCC CCC Caa2 CCC CCC- CCC- Caa3 CCC- CC CC Ca CC C C C C D DDD N/A D
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Equivalent Rating means, with respect to any security of a given type that is not rated by S&P or Xxxxx’x (an “unrated security”), such unrated security has been determined, in the reasonable judgment of the Investment Adviser, to be of equal credit quality as a rated security of the same type which is valued similarly as such unrated security, after giving effect to clause (1) of the proviso contained in the defined term “Borrowing Base”.
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Equivalent Rating means a senior unsecured long-term debt rating of an NRSRO, which rating is (i) requested by a Borrower as an alternative to a rating from S&P, (ii) acceptable to the Agent in its sole discretion, and (iii) equivalent to the Level I Rating, Level II Rating, Level III Rating or Level IV Rating, as the case may be, from S&P, as determined by the Agent, subject to the approval of the Required Banks.
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Related to Equivalent Rating

  • 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 debt securities without third-party credit enhancement.

  • Index Debt Rating means the S&P Rating, the Xxxxx’x Rating and the Fitch Rating.

  • Equivalent method means any method of sampling and analyzing for an air pollutant that has been demonstrated to the satisfaction of the commissioner and the U.S. EPA to have a consistent and quantitatively known relationship to the reference method under specific conditions.

  • Moody’s means Xxxxx’x Investors Service, Inc. and any successor thereto.

  • approved rating means, for a security, a rating at or above one of the following rating categories issued by an approved rating organization for the security or a rating category that replaces a category listed below:

  • Moody s” means Moody’s Investors Service, Inc.

  • Equivalent Amount of any currency with respect to any amount of Dollars at any date shall mean the equivalent in such currency of such amount of Dollars, calculated on the basis of the Exchange Rate for such other currency at 11:00 a.m., London time, on the date on or as of which such amount is to be determined.

  • Index Debt means senior, unsecured, long-term indebtedness for borrowed money of the Borrower that is not guaranteed by any other Person or subject to any other credit enhancement.

  • Highest Rating Category means, with respect to a Permitted Investment, that the Permitted Investment is rated by S&P or Moody’s in the highest rating category 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 (i) both S&P and Moody’s rate a Permitted Investment and (ii) one of those ratings is below the Highest Rating Category, then such Permitted 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, a Permitted Investment rated “AAA” by S&P and “Aa3” by Moody’s 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 Permitted Investment will be deemed to be rated below the Highest Rating Category. For example, a Permitted Investment rated “AAA” by S&P and “A1” by Moody’s is not rated in the Highest Rating Category.

  • Credit Rating means, with respect to any entity, the rating then assigned to such entity’s unsecured, senior long-term debt obligations (not supported by third party credit enhancements) or if such entity does not have a rating for its senior unsecured long-term debt, then the rating then assigned to such entity as an issuer rating by S&P, Moody’s or any other rating agency agreed by the Parties as set forth in the Cover Sheet.

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