Rating Level 4 definition

Rating Level 4 means that Rating ▇▇▇▇▇ ▇, ▇▇▇▇▇▇ ▇▇▇▇▇ ▇ and Rating Level 3 do not apply and the Debt Rating is Baa2 by Moody's or BBB by S&P.
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Rating Level 4 means a period that is not a Rating ▇▇▇▇▇ ▇, a Rating Level 2 or a Rating Level 3 during which the ▇▇▇▇▇’▇ Rating is at or above A3 or the Standard & Poor’s Rating is at or above A-; and
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Rating Level 4 means (a) no Specified Event of Default has occurred and is continuing, (b) the ▇▇▇▇▇'▇ Rating is Baa1 or the S&P Rating is BBB+ and (c) none of Rating ▇▇▇▇▇ ▇, ▇▇▇▇▇▇ ▇▇▇▇▇ ▇ or Rating Level 3 is in effect.
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Examples of Rating Level 4 in a sentence

  • During any Rating Level 3 Period or Rating Level 4 Period, the Servicer shall deliver to each Managing Agent and the Seller, no later than 11:00 a.m., New York City time, on each Business Day, a Daily Report setting forth total Collections received and Receivables originated during the immediately preceding Business Day, the Net Receivables Pool Balance at the end of the immediately preceding Business Day, and such other information as the Administrative Agent or any Managing Agent may reasonably request.

  • At any time following the occurrence and during the continuation of (i) any Termination Event or (ii) a Rating Level 4 Period (each, a "Servicer Replacement Event"), the Administrative Agent may (with the consent or at the direction of the Majority Managing Agents) designate another Person to succeed Medco as the Servicer.

  • At any time following the occurrence and during the continuation of (i) any Termination Event or (ii) a Rating Level 4 Period (each, a “Servicer Replacement Event”), the Administrative Agent may (with the consent or at the direction of the Majority Managing Agents) designate another Person to succeed Medco as the Servicer.

  • Rating Agency 1 (e.g. Standard and Poors) Credit Rating Level 1 = AAA Credit Rating Level 2 = AA+ Credit Rating Level 3 = AA Credit Rating Level 4 = AA- Credit Rating Level 5 = A+ Credit Rating Level 6 = A Credit Rating Level 7 = A- • Credit Rating Level 8 = BBB+ Credit Rating Level 9 = BBB • Credit Rating Level 10 = BBB- Etc.

  • The Credit Rating Level which would be applicable for so long as the Credit Rating is greater than or equal to BBB+ by S&P or Baa1 by M▇▇▇▇’▇ and Credit Rating Levels 1 and 2 are not applicable; Credit Rating Level 4.

  • The Credit Rating Level which would be applicable for so long as the Credit Rating is greater than or equal to BBB+ by S&P or Baa1 by ▇▇▇▇▇’▇ and Credit Rating Levels 1 and 2 are not applicable; Credit Rating Level 4.

  • Effective upon the satisfaction of the conditions specified in Section 4 below, Section 6.02 of the Originator Purchase Agreement is amended to delete the words “or a Rating Level 4 Period” in each place where such words appear.


More Definitions of Rating Level 4

Rating Level 4 shal▇ ▇▇▇▇ (a) no Specified Event of Default has occurred and is continuing, (b) the Moody's Rating is Baa1 or the S&P Rating is BBB+ and (c) none of Rati▇▇ ▇▇▇▇l 1, Rating Level 2 or Rating Level 3 is in effect.
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Rating Level 4 means (a) so long as no Debt Rating from S&P or Mood▇'▇ ▇▇ obtained by the Company, then a Debt Rating of BBB- from Fitch, and (b) in the event that a Debt Rating is obtained from S&P and/or Moody's, then (i) if both ratings are obtained the lower of, and (ii) if only one rating is obtained then either, a Debt Rating of BB+ (or higher) from S&P or Ba1 (or higher) from Moody's.
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Related to Rating Level 4

  • Applicable Rating Level at any time shall be determined in accordance with the then-applicable S&P Rating or the then-applicable ▇▇▇▇▇’▇ Rating as follows: S&P Rating/▇▇▇▇▇’▇ Rating Applicable Rating Level S&P Rating AA or higher or ▇▇▇▇▇’▇ Rating Aa2 or higher 1 S&P Rating AA- or ▇▇▇▇▇’▇ Rating Aa3 2 S&P Rating A+ or ▇▇▇▇▇’▇ Rating A1 3 S&P Rating A or ▇▇▇▇▇’▇ Rating A2 4 S&P Rating A- or below or ▇▇▇▇▇’▇ Rating A3 or below or unrated 5 The Applicable Rating Level for any day shall be determined based upon the higher of the S&P Rating and the ▇▇▇▇▇’▇ Rating in effect on such day. If the S&P Rating and the ▇▇▇▇▇’▇ Rating are not the same (i.e., a “split rating”), the higher (better) of such ratings shall control, unless the ratings differ by more than one level, in which case the rating one level below the higher of the two ratings shall control.

  • Pricing Level IV means any time when (i) no Event of Default has occurred and is continuing, (ii) the Senior Debt Rating is BBB- or higher by S&P or Baa3 or higher by Moody’s and (iii) Pricing Levels I, II and III do not apply.

  • Pricing Level V any time when (i) the senior unsecured long term debt rating of the Borrower by (x) S&P is BBB‑ or higher or (y) ▇▇▇▇▇’▇ is Baa3 or higher and (ii) none of Pricing Level I, Pricing Level II, Pricing Level III or Pricing Level IV applies.

  • Pricing Level I shall exist on an Adjustment Date if the Consolidated Leverage Ratio for the relevant period is greater than or equal to 3.50 to 1.00.

  • Pricing Level refers to the determination of which of Level I, Level II, Level III, Level IV, Level V or Level VI applies at any date.