S&P Rating Clause Samples
The S&P Rating clause defines the requirement for a party, typically a financial institution or issuer, to maintain a specific credit rating as determined by Standard & Poor’s (S&P), a major credit rating agency. This clause often specifies a minimum acceptable rating level, such as BBB or higher, and may outline actions to be taken if the rating falls below this threshold, such as triggering a default, requiring additional collateral, or allowing for early termination of an agreement. Its core practical function is to manage credit risk by ensuring that the party’s financial stability meets agreed standards, thereby protecting the interests of counterparties or investors.
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S&P Rating. At any time, with respect to any Person, the rating in effect at such time assigned by Standard and Poor's Ratings Group, a division of McGraw Hill, Inc., for the long term senior unsecured debt of such Person.
S&P Rating. The rating for Borrower's senior long-term unsecured debt assigned by Standard & Poor's, a division of The McGraw-Hill Companies, Inc., or its successors.
S&P Rating. With respect to any Entity, the rating assigned to long-term senior unsecured debt issued by such Entity by Standard & Poor’s Financial Services LLC from time to time in effect or, if such Entity does not issue long-term senior unsecured debt rated by Standard & Poor’s Financial Services LLC, the counterparty rating assigned by Standard & Poor’s Financial Services LLC from time to time in effect. SPC. As defined in Section 18.6.
S&P Rating. The Borrowers, the Administrative Agent and Majority Lenders shall endeavor to obtain an S&P rating of the Loans of at least "AA (sf)" no later than the three week anniversary of the Amended and Restated Closing Date and agree to amend this Agreement and the other Loan Documents as reasonably necessary to obtain such S&P rating. The Majority Lenders and the Administrative Agent will not unreasonably withhold consent to any document changes required by S&P in order to obtain a rating. If the Borrowers do not obtain such S&P rating prior to the three week anniversary of the Amended and Restated Closing Date, the Reinvestment Period shall automatically be suspended, unless the Majority Lenders provide written consent not to suspend the Reinvestment Period at such time; provided that during any such suspension, the Reinvestment Period shall still be considered ongoing for purposes of the Priority of Payments (unless otherwise terminated on a permanent basis in accordance with the terms of this Agreement). ARTICLE VI
S&P Rating. Borrower will use its best efforts to obtain on or before December 31, 1997, and shall thereafter always maintain in effect, an investment grade rating for the long-term unsecured debt of Borrower from Standard & Poor's Rating Group or ▇▇▇▇▇ Investor
S&P Rating. If the Borrower has a corporate rating by S&P on the Closing Date, use commercially reasonable efforts to maintain a corporate rating by S&P at all times thereafter.
S&P Rating. The Borrower shall have received a counterparty credit rating from S&P of BBB- or better.
S&P Rating. The Borrower, the Subsidiary Guarantor, the Administrative Agent and Majority Lenders shall endeavor to obtain an S&P rating of the Loans of at least "AA (sf)" no later than the nine-month anniversary of the Closing Date and agree to amend this Agreement and the other Loan Documents as reasonably necessary to obtain such S&P rating. The Majority Lenders and the Administrative Agent will not unreasonably withhold consent to any document changes required by S&P in order to obtain a rating. If the Loan Parties do not obtain such S&P rating prior to the nine-month anniversary of the Closing Date, the Reinvestment Period shall automatically be suspended, unless the Majority Lenders provide written consent not to suspend the Reinvestment Period at such time.
S&P Rating. The rating for the Borrower’s non-credit enhanced senior long-term unsecured debt assigned by S&P.
S&P Rating. With respect to any Entity which is the issuer or obligor with respect to commercial paper, the rating assigned to such entity by Standard & Poor's Ratings Service, a division of The McGraw-Hill Companies, Inc., from time to time in effect.