Agency Rating definition

Agency Rating means, as of any date of determination, with respect to any Collateral Obligation (a) if a public rating of such Collateral Obligation is available from a Rating Agency, then such rating, (b) if no such rating described in clause (a) is available but such Collateral Obligation has a credit estimate assigned (or affirmed) within the last twelve months by a Rating Agency, then such credit estimate or (c) if no rating described in clause (a) or (b) is available, the rating that is one notch below the .EDF (as defined on Schedule 4) used to determine the Xxxxx’x rating in accordance with Xxxxx’x RiskCalc for such Collateral Obligation, as updated in accordance with Section 10.25; provided that for purposes of calculating an Agency Rating, each applicable rating on credit watch by the applicable Rating Agency that is on (i) positive watch will be treated as having been upgraded by one rating subcategory, (ii) negative watch will be treated as having been downgraded by two rating subcategories, (iii) positive outlook will not be treated as having been upgraded by any rating subcategories and (iv) negative outlook will be treated as having been downgraded by one rating subcategory.

Agency Rating means a long-term unenhanced rating (i.e., without regard to any bond insurance policy or credit enhancement) assigned by Moody’s, S&P or Fitch to DEC’s Bonds.

Agency Rating means, as of any date of determination, with respect to any Collateral Obligation (a) if a public rating of such Collateral Obligation is available from Xxxxx’x, S&P or Fitch, then such rating (and, if available from more than one, the lowest of such ratings), (b) if no such rating described in clause (a) is available but such Collateral Obligation has a credit estimate assigned (or affirmed) within the last twelve months by Xxxxx’x, S&P or Fitch, then such credit estimate (and, if assigned or affirmed by more than one, the lowest of such ratings), (c) if no rating described in clause (a) or (b) is available, the rating that is one notch below the .EDF (as defined on Schedule 4) used to determine the “Agency Rating” in accordance with Xxxxx’x RiskCalc for such Collateral Obligation, as updated in accordance with Section 10.28, or (d) if no rating is obtained through clause (a), (b) or (c), the Borrower or Servicer shall assign a rating of “Caa2”; provided that for purposes of calculating an Agency Rating, each applicable rating on credit watch by a Rating Agency that is on (i) positive watch will be treated as having been upgraded by one rating subcategory, (ii) negative watch will be treated as having been downgraded by two rating subcategories, (iii) positive outlook will not be treated as having been upgraded by any rating subcategories and (iv) negative outlook will be treated as having been downgraded by one rating subcategory.

Examples of Agency Rating in a sentence

• There are three “Credit Events.” The first is if and when Seller or Seller Parent Guarantor (whichever’s creditworthiness has led to the reduction in the Required Letter of Credit Amount or the Required Liquid Credit Support Amount) does not have an Eligible Agency Rating that is “Acceptable” under the criteria provided above, unless an Eligible Agency Rating was not the basis for the “Acceptable” rating prior to the Credit Event.

• This Credit Event will be ignored and not apply (i) if, at the time of this Credit Event, Seller or Seller Parent Guarantor (as applicable) has an Eligible Agency Rating that is “Acceptable” under the criteria provided above and (ii) thereafter, for so long as such Eligible Agency Rating is continuously maintained.

• All maintenance and repairs made by Tenant must comply with Landlord’s sustainability practices and any applicable Green Agency Rating, as the same may change from time to time.

• With respect to any Collateral Obligation, at any time that the Agency Rating hereunder is determined by the use of Xxxxx’x RiskCalc: (1) the Borrower (or the Servicer on behalf of the Borrower) shall request a credit estimate, shadow rating or similar rating within 10 Business Days of the applicable Cut-Off Date and (2) the Borrower (or the Servicer on behalf of the Borrower) shall refresh such Xxxxx’x RiskCalc promptly upon the occurrence of a Revaluation Event with respect to such Collateral Obligation.

• Financial Stability (30%) a) Financial Stability (AM Best or Equivalent Agency Rating) 3.

• All maintenance and repairs made by Tenant must comply with the requirements set forth in the subparagraph captioned “Work Performance” and with Landlord’s sustainability practices and any applicable Green Agency Rating, as the same may change from time to time.

• The Servicer shall promptly notify the Facility Agent of any change of which the Servicer actually knows in the calculation of the Agency Rating of any Collateral Obligation, including when Xxxxx’x RiskCalc is no longer used as the basis of such calculation.

• An on-site evaluation will occur at least annually and will cover, at a minimum, negotiated annual outputs, perform- ance expected in the delegation agree- ment and, where applicable, evaluation of performance under the assistance agreement as provided in 40 CFR 35.150.

• Amount of Debt and Liabilities Outstanding Quasi-Public Agency Rating Agency Guidance and Peer Comparison The Rhode Island Resource Recovery Corporation issued revenue bonds through a private placement with an ABT and rate covenant that requires net revenues (after payment of operating and maintenance expenses) plus State Subsidy, and Assets Held in Trust to be at least 1.25x debt service.

• To be eligible to use the Alternative Unsecured Allowance as set out in this Agreement, the Contracting Retailer shall at all times;‌ hold and maintain a Nominated Credit Support Agency Rating of 5A/1 or 5A/2; and hold and maintain a Low, Low-Moderate or Moderate Overall Business Risk.