Aa2 definition

Aa2 and “P-1” for instruments with a term in excess of six months, (ii) with respect to rating assigned by S&P, “A-1” for short-term instruments and “A” for long-term instruments, and (iii) with respect to rating assigned by Fitch (if such investment is rated by Fitch), “F-1+” for short-term instruments and “AAA” for long-term instruments.

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Aa2 by ▇▇▇▇▇’▇ or the short term obligations of which are rated at least “A-1+” by S&P, “F-1” by Fitch and “P-1” by ▇▇▇▇▇’▇ (either (A) or (B), the “Threshold Event Collateral”), and (ii) the Threshold Event Collateral shall be in an amount which, when added to the appraised value of the Mortgaged Property as determined pursuant to the Servicing Agreement, would cause the applicable Control Appraisal Period not to occur. If the requirements of this paragraph are satisfied by the Controlling Noteholder (a “Threshold Event Cure”), no Control Appraisal Period caused by application of an Appraisal Reduction Amount shall be deemed to have occurred. If a letter of credit is furnished as Threshold Event Collateral, the applicable Controlling Noteholder shall be required to renew such letter of credit not later than thirty (30) days prior to expiration thereof or to replace such letter of credit with cash collateral as described in clause (A) or a new letter of credit that satisfies the requirements set forth in clause (B) with an expiration date that is greater than forty-five (45) days from the date of such replacement; provided, however, that, if a letter of credit is not renewed prior to thirty (30) days prior to the expiration date of such letter of credit, the letter of credit shall provide that the Servicer may (and, at the direction of the applicable Controlling Noteholder, shall) draw upon such letter of credit and hold the proceeds thereof as Threshold Event Collateral. If a letter of credit is furnished as Threshold Event Collateral, the applicable Controlling Noteholder shall be required to replace such letter of credit with other Threshold Event Collateral within 30 days if the credit rating of the issuing entity is downgraded below the applicable required rating; provided, however, that, if such Threshold Collateral is not so replaced, the Servicer shall draw upon such letter of credit and hold the proceeds thereof as Threshold Event Collateral. The Threshold Event Cure shall continue until (1) the appraised value of the Mortgaged Property plus the value of the Threshold Event Collateral would not be sufficient to prevent a Control Appraisal Period from occurring; or (2) the occurrence of a Final Recovery Determination. If the appraised value of the Mortgaged Property, upon any redetermination thereof, is sufficient to avoid the occurrence of a Control Appraisal Period without taking into consideration any, or some portion, of Threshold Event Collateral ...

Aa2 or “P-1” for one month instruments, “Aa2” and “P-1” for three month instruments, “Aa3” and “P-1” for six month instruments and “Aa2” and “P-1” for instruments with a term in excess of six months and (b) with respect to rating assigned by S&P, “A-1” for short-term instruments and “A” for long-term instruments.

Examples of Aa2 in a sentence

• The Programs are (A) expected to be rated Aa2 by ▇▇▇▇▇'▇ Investors Service, Inc.

• An insurance company shall not be satisfactory unless such insurance company (a) has a Standard & Poor's rating of "AA" or better or ▇▇▇▇▇'▇ Aa2 or better; (b) is licensed in the State in which the insured Property is located; (c) has actively been in business for at least five (5) years; (d) if it is a mutual company, is a nonassessable company; and (e) does not provide insurance on any one building in excess of ten (10%) percent of its policyholders' surplus (including capital).

• Effective for loans taken on or after January 1, 2004 Consumer Home Loan Class I-A AAA AAA Class I-A-IO AAA AAA Class II-A AAA AAA Class II-A-IO AAA AAA Class III-A AAA AAA Class III-A-IO AAA AAA Class IV-A AAA AAA Class IV-A-IO AAA AAA Class V-A AAA AAA Class V-A-IO AAA AAA Class M-1 Aa2 AA Class M-2 A2 A Class M-3 Baa2 BBB None of the above ratings has been lowered since the respective dates of such letters.

• The Fund will use its best efforts to maintain a long-term preferred share rating of the VRDP Shares of Aa2 by ▇▇▇▇▇’▇ or a long-term preferred share rating of the VRDP Shares of AA by Fitch (or the highest equivalent ratings category for preferred shares furnished by at least one Rating Agency).

• If the issuing financial institution is not a domestic Canadian financial institution, the sovereign country’s debt rating should not be less than Standard & Poor’s AA, ▇▇▇▇▇’▇ Aa2 or Dominion Bond Rating Service AA and the financial institution must be acceptable to the Buyer.

More Definitions of Aa2

Aa2 or better in the case of Moody's and references herein to the highest short-term debt rating of a Rating Agency shall mean "A-1" in the case of [Standard & Poor's,] and in the case of any other Rating Agency such references shall mean such rating categories without regard to any plus or minus.

Aa2 or better by Moody’s, “AA-” or better by Standard & Poor’s or such other rating that is acceptable to each Rating Agency, as evidenced by a letter from such Rating Agency to the Issuer or the Indenture Trustee, (ii) a certificate of deposit rating of “P-1” by Moody’s, “A-1” by Standard & Poor’s or (iii) such other rating that is acceptable to each Rating Agency, as evidenced by a letter from such Rating Agency to the Issuer or the Indenture Trustee and (b) whose deposits are insured by the Federal Deposit Insurance Corporation.

Aa2 in the case of long-term unsecured obligations;

Aa2 by Moody's).

Aa2 by ▇▇▇▇▇’▇ or the short-term obligations of which are rated at least “A-1+” by S&P, “F-1” by Fitch and “P-1” by ▇▇▇▇▇’▇ and (B) after a Securitization, has long term long unsecured debt obligations and/or short term obligations which meet the applicable rating requirements of the Rating Agencies.

Aa2 by Moody’s or the short-term obligations of which are rated at least “A-1+” by S&P, “F-1” by Fitch and “P-1” by Moody’s and (B) after a Securitization, has long term long unsecured debt obligations and/or short term obligations which meet the applicable rating requirements of the Rating Agencies.

Aa2 or “P-1” for one-month instruments, “Aa2” and “P-1” for three-month instruments, “Aa2” and “P-1” for six-month instruments and “Aaa” and “P-1” for instruments with a term in excess of six-months, (b) with respect to rating assigned by S&P, “A-1+” for short-term instruments and “AAA” for long-term instruments, and (c) with respect to rating assigned by Fitch (if such investment is rated by Fitch), “F-1+” for short-term instruments and “AAA” for long-term instruments.