Caa Obligation definition
Caa Obligation means, as of any Measurement Date, any Underlying Asset (other than a Defaulted Obligation, Deferred Interest Asset or Current Pay Obligation) for which the Moody’s Default Probability Rating is below “B3.”
Caa Obligation means any Collateral Obligation (other than Defaulted Obligations, Deferring Securities or Discount Obligations) with a Moody's Rating of "Caa1" or less.
Caa Obligation. Any Collateral Debt Obligation other than a Defaulted Collateral Debt Obligation with a Moody’s Default Probability Rating lower than “B3.”
More Definitions of Caa Obligation
Caa Obligation means any Collateral Obligation (other than Defaulted Obligations) with a Moody's Rating of "Caa1" or less.
Caa Obligation means, as of any Measurement Date, any Collateral Debt Obligation (other than a Defaulted Obligation, a Discounted Obligation or a Non-Cash Paying PIK Security) for which the Moody's Rating is below "B3".
Caa Obligation means, as of any Measurement Date, any Collateral Debt Obligation (other than a Discounted Obligation, a Delinquent Obligation or a Charged-Off Obligation) for which the Moody’s Rating is below “B3.”