Baa2 or higher by Moody's with respect to any outstanding long-term unsecured unsubordinated debt, and, in the case of a successor Trustee or successor Securities Administrator other than pursuant to Section 10.10, rated in one of the two highest long-term debt categories of, or otherwise acceptable to, each of the Rating Agencies. The Trustee shall not be an Affiliate of the Master Servicer. If the Trustee publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 10.06 the combined capital and surplus of such corporation shall be deemed to be its total equity capital (combined capital and surplus) as set forth in its most recent report of condition so published. In case at any time the Trustee or the Securities Administrator, as applicable, shall cease to be eligible in accordance with the provisions of this Section 10.06, the Trustee or the Securities Administrator shall resign immediately in the manner and with the effect specified in Section 10.08.
Baa2 or higher by Moody's with respect to any outstanding long-term unsecured unsubordinated debt, and, in the case of a successor Trustee other than pursuant to Section 9.10, rated in one of the two highest long-term debt categories of, or otherwise acceptable to, each of the Rating Agencies. If the Trustee publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 9.06 the combined capital and surplus of such corporation shall be deemed to be its total equity capital (combined capital and surplus) as set forth in its most recent report of condition so published. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section 9.06, the Trustee shall resign immediately in the manner and with the effect specified in Section 9.08.
Baa2 or higher by Moody's with respect to any outstanding long-term unsecured unsubordinated debt, and, in the case of a successor Grantor Trustee other than pursuant to Section 7.10, rated in one of the two highest long- term debt categories of, or otherwise acceptable to, each of the Rating Agencies. If the Grantor Trustee publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 7.06 the combined capital and surplus of such corporation shall be deemed to be its total equity capital (combined capital and surplus) as set forth in its most recent report of condition so published. In case at any time the Grantor Trustee shall cease to be eligible in accordance with the provisions of this Section 7.06, the Grantor Trustee shall resign immediately in the manner and with the effect specified in Section 7.08.
Examples of Baa2 in a sentence
Notwithstanding the above, a Customer with an issuer rating from any of the approved rating agencies below BBB (or Baa2) shall be deemed to be a Non-Investment Grade Customer.
RatingsBestS&PMoody’sFitchSecure – 1A++AAAAaaAAASecure – 2A+AA+, AA, AA-Aa1, Aa2, Aa3AA+, AA, AA-Secure – 3AA+, AA1, A2A+, ASecure – 4A-A-A3A-Secure – 5B++, B+BBB+, BBB, BBB-Baa1, Baa2, Baa3BBB+, BBB, BBB-Vulnerable – 6B, B-, C++, C+,C, C-, D, E, FBB+, BB, BB-, B+,B, B-, CCC, CC, C, D, RBa1, Ba2, Ba3, B1, B2, B3, Caa, Ca, CBB+, BB, BB-, B+,B, B-, CCC+, CC, CCC-, DD 2.
If a Customer does not have a senior long-term unsecured debt rating from Standard & Poor’s, Fitch, Moody’s or Dominion, the Customer shall nevertheless be deemed an Investment Grade Customer if it has an issuer rating of BBB or higher from Standard & Poor’s, Fitch, or Dominion, or Baa2 or higher from Moody’s.
India’s sovereign rating decreased from Baa2 with a “negative” outlook to Baa3 with a “negative” outlook by Moody’s and from BBB with a “stable” outlook to BBB with a “negative” outlook (Fitch) in June 2020; and from BBB “stable” to BBB “negative” by DBRS in May 2020.
The Instruments to be issued have been rated:S&P: BBB+Moody’s: Baa2 Fitch: A-These credit ratings have been issued by Standard & Poor’s Credit Market Services Europe Limited, Moody’s Investor Services España, S.A. and Fitch Ratings España, S.A.U.Each of Standard & Poor’s Credit Market Services Europe Limited, Moody’s Investor Services España, S.A., and Fitch Ratings España, S.A.U. is established in the European Union and is registered under Regulation (EC) No. 1060/2009 (as amended) (the “CRA Regulation”).
More Definitions of Baa2
Baa2 by Xxxxx'x; and
Baa2. ["A3"]* (or its equivalent) by Moody's, or
Baa2 by Moody's and "BBB" by S&P. Rating as of Closing: Underlying Securitiex Xxxx: Book-entry security with DTC. EXHIBIT A Standard Terms for Trust Agreements (begins on next page) STANDARD TERMS FOR TRUST AGREEMENTS between MERRILL LYNCH DEPOSITOR, INC., as Xxxxxxxox, and UNITED STATES TRUST COMPANY OF NEW YORK, as Trustee and as Securities Intermediary TRUST CERTIFICATES Dated as of February 20, 1998 Reconciliation and tie between the Standard Terms, dated as of February 20, 1998, and the Trust Indenture Act of 1939, as amended. This reconciliation and tie does not constitute part of the Standard Terms. ================================================================================ Trust Indenture Act Standard of 1939 Section Terms Section -------------------------------------------------------------------------------- 310(a)(1) 7.07 -------------------------------------------------------------------------------- (a)(2) 7.07 -------------------------------------------------------------------------------- (a)(5) 7.07 -------------------------------------------------------------------------------- 312(a) 7.14 -------------------------------------------------------------------------------- 313(a) 7.16 -------------------------------------------------------------------------------- 314(a) 3.10 -------------------------------------------------------------------------------- (c)(1) 1.03 -------------------------------------------------------------------------------- (c)(2) 1.03 -------------------------------------------------------------------------------- (e) 1.03 -------------------------------------------------------------------------------- 315(a)(1) 7.01 -------------------------------------------------------------------------------- 315(a)(2) 7.03 -------------------------------------------------------------------------------- 315(b) 7.01(d) -------------------------------------------------------------------------------- 315(d) 7.01(c) -------------------------------------------------------------------------------- 316(a)(1)(A) 5.19 -------------------------------------------------------------------------------- (a)(1)(B) 5.20 -------------------------------------------------------------------------------- (b) 5.21 -------------------------------------------------------------------------------- (c) 1.03(b) -------------------------------------------------------------------------------- 317(a)(1) 5.18 --------------------------------------------------------...
Baa2 or higher by Moody's with respecx xx xxy outstanding long-term unsecured unsubordinated debt, and, in the case of a successor Trustee other than pursuant to Section 9.10, rated in one of the two highest long-term debt categories of, or otherwise acceptable to, each of the Rating Agencies and the Certificate Insurer (which consent shall not be unreasonably withheld). The Trustee shall not be an Affiliate of the Master Servicer. If the Trustee publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 9.06 the combined capital and surplus of such corporation shall be deemed to be its total equity capital (combined capital and surplus) as set forth in its most recent report of condition so published. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section 9.06, the Trustee shall resign immediately in the manner and with the effect specified in Section 9.08.
Baa2 or higher by Moody's with respect to any outstanding long-term unsecured unsubordinated debt, and, in the case of a successor Grantor Trustee, successor Paying Agent or successor Certificate Registrar other than pursuant to Section 7.10, rated in one of the two highest long-term debt categories of, or otherwise acceptable to, each of the Rating Agencies. If the Grantor Trustee, the Paying Agent or the Certificate Registrar publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 7.06 the combined capital and surplus of such corporation shall be deemed to be its total equity capital (combined capital and surplus) as set forth in its most recent report of condition so published. In case at any time the Grantor Trustee, the Paying Agent or the Certificate Registrar shall cease to be eligible in accordance with the provisions of this Section 7.06, the Grantor Trustee, the Paying Agent or the Certificate Registrar shall resign immediately in the manner and with the effect specified in Section 7.08.
Baa2 by Moody's; and
Baa2. 360 “Caa3” 8070 “Baa3” 610 “Ca” or lower 10000 Any Loan Asset issued or guaranteed by the U.S. government or any agency or instrumentality thereof is assigned a Xxxxx’x Rating Factor of 1.