Rating Change definition

Rating Change means a Step-up Rating Change and/or a Step-down Rating Change;

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Rating Change means any change in any rating of the Notes or the Notes cease to be rated by any Rating Agency and thereafter are rated by such Rating Agency.

Rating Change means the public announcement by any Rating Agency assigning a credit rating to the Notes of a change in, or confirmation of, the rating of the Notes or, as the case may be, of a credit rating being applied.

Examples of Rating Change in a sentence

• From (and including) the first Interest Payment Date following the date of a Step Up Rating Change, the Rate of Interest shall be the Initial Rate of Interest plus 1.25 per cent.

• Furthermore, in the event of a Step Down Rating Change following a Step Up Rating Change, with effect from (and including) the first Interest Payment Date following the date of such Step Down Rating Change, the Rate of Interest shall be decreased by 1.25 per cent.

• In the case of Fixed Rate Notes or Floating Rate Notes, and if so specified in the applicable Final Terms (or, in the case of Exempt Notes, Pricing Supplement), the Rate of Interest payable on the Notes will be subject to adjustment from time to time following a Step Up Rating Change or Step Down Rating Change (as the case may be).

• For the avoidance of doubt, the rate of interest payable on the Notes from and including the first Interest Payment Date following the Rating Change Period End Date to maturity of the Notes shall be determined in accordance with the Ratings assigned to the Notes as of the Rating Change Period End Date.

• In the case of each such Rating Change, the designation of the Series B Preferred Units will change accordingly to reflect such new Coupon Rate.

More Definitions of Rating Change

Rating Change means a Step Up Rating Change (or a deemed Step Up Rating Change, as set out above) and/or a Step Down Rating Change (or a deemed Step Down Rating Change, as set out above) which results in an adjustment to the Rate of Interest as described in this Condition 4;

Rating Change means a 1st Rating Change or a 2nd Rating Change.

Rating Change means a Step Up Rating Change and/or a Step Down Rating Change which results in an adjustment to the rate of interest payable in respect of the Bonds as provided above;

Rating Change means a change to the Credit Rating assigned to the 2015 Notes by Fitch, Moody’s or S&P, upon or subsequent to the Acquisition Closing.

Rating Change is defined in Section 8.1(d).

Rating Change means that if, on any date, either the Issuer’s or the Guarantor’s long term credit rating (the Rating) is assigned BB+ (or better) by Standard & Poor’s Credit Market Services Europe Limited, BB+ (or better) by Fitch Ratings Limited or Ba1 (or better) by Moody’s Investors Service Limited (each a Rating Agency), either at the invitation of the Issuer or Guarantor (or if no Rating Agency is assigned at the invitation of the Issuer or Guarantor then from any Rating Agency of its own volition).

Rating Change means a change in the applicable rating among the five tiers on the following chart assigned by one of the respective Rating Agencies as its Implied Senior Debt Rating for the Company (the present assigned rating by each Rating Agency being at (or in the case of Moody's deemed at) the third tier shown below), or if no Implied Senior Debt Rating is then assigned, then at the fifth tier shown below: S & P Moody's Tiers BB+ (or better) Ba1 (or better) ▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇ ▇▇- ▇▇▇ Third B+ B1 Fourth B (or worse) B2 (or worse) Fifth