Rating Level 5 definition

Rating Level 5 means that Rating ▇▇▇▇▇ ▇, ▇▇▇▇▇▇ ▇▇▇▇▇ ▇, ▇▇▇▇▇▇ ▇▇▇▇▇ ▇ and Rating Level 4 do not apply and the Debt Rating is Baa2 or lower by Moody’s or BBB or lower by S&P, and shall include any period during which neither Moody’s nor S&P shall have in effect a Debt Rating.
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Rating Level 5 means a period that is not a Rating ▇▇▇▇▇ ▇, a Rating ▇▇▇▇▇ ▇, a Rating Level 3 or a Rating Level 4.
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Rating Level 5 means (a) there exists a ▇▇▇▇▇'▇ Rating or S&P Rating or both but (b) none of Rating Level 1, Rating Level 2, Rating Level 3 or Rating Level 4 is in effect.
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Examples of Rating Level 5 in a sentence

  • In the event that Borrower and/or Parent shall have obtained a credit rating from one or more of the Rating Agencies and shall thereafter lose such ratings (whether as a result of withdrawal, suspension, election to not obtain a rating, or otherwise) from each of the Rating Agencies, Borrower and/or Parent shall be deemed for the purposes hereof not to have a Credit Rating and Credit Rating Level 5 shall apply.

  • If at any time following the Rating Date neither S&P nor ▇▇▇▇▇’▇ shall have assigned a Rating, then Rating Level 5 shall apply.

  • 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 Baa2 by M▇▇▇▇’▇ and Credit Rating Levels 1, 2 and 3 are not applicable; Credit Rating Level 5.


More Definitions of Rating Level 5

Rating Level 5 means a period that is not a Rating ▇▇▇▇▇ ▇, a Rating ▇▇▇▇▇ ▇, a Rating Level 3 or a Rating Level 4; and provided further that if the Ratings shall be within different Rating Levels at any time (i.e., “split ratings”), the relevant Rating Level for purposes of determining the Applicable Facility Fee Rate, the Applicable Utilization Fee Rate and the Applicable Margin for Eurodollar Loans made to the Borrower shall be the higher of the two relevant Rating Levels, unless such Rating Levels differ by more than one Rating Level, in which case the Rating Level shall be one Rating Level above the lower of the two relevant Rating Levels and (B) for this purpose Rating Level 1 is the highest Rating Level and Rating Level 5 is the lowest Rating Level.
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Rating Level 5 means (a) so long as no Debt Rating from S&P or Mood▇'▇ ▇▇ obtained by the Company, then a Debt Rating of BB+ 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 Ba2 (or higher) from Moody's."
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Rating Level 5 means the rating level (if any) which exists whenever the Company does not qualify for Rating Level 1, 2, 3 or 4.
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