Ba2 definition

Ba2 respectively by Moody's;

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Ba2. Moody's Rating would result in an Applicable Margin for Eurodolla▇ ▇▇▇▇ Loans equal to 1.375%. In the event only one rating agency exists or continues rating the Company's long term senior unsecured debt, such agency's rating shall be used for purposes of the above table. In the event: (i) neither agency exists or continues rating the Company's long term senior unsecured debt or (ii) the Company no longer has any outstanding long term senior unsecured debt to be rated, the Applicable Margin for the first 90 days after such occurrence shall be the Applicable Margin in effect as determined using the above immediately prior to such occurrence. During such 90-day period, the Administrative Agent and the Company shall negotiate in good faith to agree upon a new pricing grid or other appropriate pricing terms. Any such new grid or pricing terms shall be approved by the Majority Banks. In the event the Administrative Agent, the Company and Majority Banks cannot agree upon such new pricing grid or pricing terms by the end of such 90-day period, the Applicable Margin shall be that corresponding to level 3 of the above table for the remainder of the term of the Agreement. Any necessary adjustment in the Applicable Margin pursuant to the terms hereof shall become effective immediately upon any change in a Rating.

Ba2 by Moody's or "BB" by Standard & Poor's, respectively, or if Moody's or Standard & Poor's shall withdraw its published rating of the Borrower's senior secured bank debt, then the Borrower shall, and shall cause each Subsidiary Guarantor to, promptly pledge to the Administrative Agent for the benefit of the Lenders all Relevant Assets of the Borrower and such Subsidiary Guarantor and, in furtherance of the foregoing, the Borrower shall, and shall cause each Subsidiary Guarantor to, execute and deliver an Additional Security Agreement and, concurrently with the execution and delivery (or amendment) thereof, (A) take such action as shall be necessary to create and perfect valid and enforceable first priority Liens on any Collateral to be pledged thereunder and (B) deliver such proof of corporate action, incumbency of officers, opinions of counsel and other documents as is consistent with those delivered by the Obligors pursuant to Section 5.01 on the Effective Date or as the Administrative Agent shall have requested; provided that this Section 6.10 shall cease to apply and be of no further effect upon the Debt Reduction Date.

Examples of Ba2 in a sentence

For example, if Moody's rates some senior unsecured long-term debt of a Borrower Ba1 and other such debt of such Borrower Ba2, the senior unsecured long-term debt of such Borrower shall be deemed to be rated Ba2 by Moody's.
Section 6.01 is hereby amended by adding the text “or, if and so long as IOS Capital is the Servicer, the long-term debt rating assigned by M▇▇▇▇’▇ or S&P to IOS Capital is Ba2 or below or BB or below, respectively” immediately after the text “If a Servicer Event of Default has occurred and is continuing” and prior to the comma.
Ba1 0.25 Ba2 0.50 Ba3 0.75 B1 or below 1.00 * Including the equivalent rating of any Substitute Rating Agency.
If the rating of this Note from M▇▇▇▇’▇ or any Substitute Rating Agency thereof is decreased to a rating set forth in the immediately following table, the interest rate on this Note will increase from the interest rate payable on this Note on the Issue Date by the percentage set forth opposite that rating: M▇▇▇▇’▇ Rating* Percentage Ba1 0.25 % Ba2 0.50 % Ba3 0.75 % B1 or below 1.00 % * Including the equivalent ratings of any Substitute Rating Agency.
If the rating of the Notes from ▇▇▇▇▇’▇ or any Substitute Rating Agency thereof is decreased to a rating set forth in the immediately following table, the interest rate on the Notes shall increase from the interest rate payable on the Notes on the Issue Date by the percentage points set forth below opposite that rating: Ba1 0.25 Ba2 0.50 Ba3 0.75 B1 or below 1.00 * Including the equivalent ratings of any Substitute Rating Agency.
For example, if Moody's rates some senior unsecured long-term debt of the Borrower Ba1 and other such debt of the Borrower Ba2, the senior unsecured long-term debt of the Borrower shall be deemed to be rated Ba2 by Moody's.
If the rating of the Notes from ▇▇▇▇▇’▇ (or any Substitute Rating Agency thereof) is decreased to a rating set forth in the immediately following table, the interest rate on the Notes shall increase from the interest rate payable on the Notes on the date of their initial issuance by the percentage set forth opposite that rating: Ba1 0.25 % Ba2 0.50 % Ba3 0.75 % B1 or below 1.00 % * Including the equivalent ratings of any Substitute Rating Agency.
Bal 0.25 Ba2 0.50 Ba3 0.75 Bl or below 1.00 * Including the equivalent rating of any Substitute Rating Agency.
If the rating of the Securities from ▇▇▇▇▇’▇ or any Substitute Rating Agency thereof is decreased to a rating set forth in the immediately following table, the interest rate on the Securities shall increase from the interest rate payable on the Securities on the Issue Date by the percentage points set forth below opposite that rating: Ba1 0.25 Ba2 0.50 Ba3 0.75 B1 or below 1.00 * Including the equivalent ratings of any Substitute Rating Agency.
Expected Issue Ratings1 Ba2 (▇▇▇▇▇’▇) / B+ (S&P) / BBB- (Fitch) Status Perpetual Subordinated Contingent Convertible Securities.

More Definitions of Ba2

Ba2 or higher from Moody's and (b) "BB" or higher from S&P; or (2) the Borrower shall have issued pursuant to a public offering or an offering under Rule 144A promulgated under the Securities Act of 1933, the Take Out Subordinated Debt in accordance with Section 5.30 and which Take Out Subordinated Debt shall have received ratings of "B+" or higher from S&P, and of "B1" or higher from Moody's.

Ba2 category, or (y) by S&P, falls below S&P's "Corporate Credit" "BB" category, or Trinity shall cease to be rated by S&P or ▇▇▇▇▇'▇ (other than in circumstances where S&P and/or ▇▇▇▇▇'▇ shall no longer provide ratings and Trinity shall have obtained an equivalent rating from an internationally recognized rating agency), the Company and the Manager shall, as soon as reasonably practicable, and in any event within 6 months of such downgrade, appoint a back-up Manager (the "Back-up Manager") which is reasonably acceptable to all of the Lenders, the Agent, ▇▇▇▇▇'▇ and S&P, which Back-up Manager shall otherwise meet the criteria applicable to a Successor Manager set forth in Section 8.04." MISCELLANEOUS:

Ba2 to the Class E Notes and (7) B1 to the Class F Notes;

Ba2 means the outstanding Bankers’ Acceptance having a face amount equal to Cdn. $[Redacted] and a term from April 18, 2012 to July 18, 2012.

Ba2 to the Class A-1, Class A-2, Class A-3, Class A-4, Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class B-1, Class B-2, Class B-3, Class B-4 and Class B-5 Certificates, respectively.