PD value definition
PD value means the probability of default of a counterparty over a one year period,
Examples of PD value in a sentence
The PD value will be the average of the available, valid data points and will be truncated to an integer value with no carryover to the next period.
If the final PD value equals or exceeds the reject value of PDReject ≥ 90, the lot is declared rejectable and the NJDOT has the option to require removal and replacement at the Contractor’s expense, or may allow the Contractor to submit a plan for corrective action.
If the PD value determined in Step (c) above equals or exceeds the retest limit of PDRetest ≥50, the NJDOT has the option of performing a retest of the lot in question.
If after an initial test, the PD value determined in Step (c) above equals or exceeds the rejectable quality level of PDReject ≥ 90, the NJDOT will retest the lot.