Rating Level IV definition

Rating Level IV has the meaning assigned to that term in Section 1.08.
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Rating Level IV means a period (other than a Rating Level I, a Rating Level II or a Rating Level III) during which the long-term senior unsecured debt rating of the Borrower is equal to or better than (i) BBB+ by S&P, or (ii) Baa1 by Moody’s; provided that on or after the Second Amendment Effective Date, this term means a period (other than a Rating Level I, a Rating Level II or a Rating Level III) during which the long-term senior unsecured debt rating of the Borrower is equal to or better than (i) BBB- by S&P, or (ii) Baa3 by Moody’s.
Sample 1
Rating Level IV means a period (other than a Rating Level I, a Rating Level II or a Rating Level III) during which the long-term senior unsecured debt rating of the Borrower is equal to or better than (i) BBB+ by S&P, or (ii) Baa1 by Xxxxx’x.
Sample 1

Examples of Rating Level IV in a sentence

  • For example, for the regression using stock returns in July 2011, iB/M is calculated using the iBE adjusted for NSE from the fiscal year-end to June 30, 2011 as the numerator and the market equity (ME) on June 30, 2011 as the denominator.


More Definitions of Rating Level IV

Rating Level IV means an Applicable Rate Rating of (x) BB+ or higher by S&P and Baa3 or higher by Xxxxx'x or (y) BBB- or higher by S&P and Ba1 or higher by Xxxxx'x, and none of Rating Level I, Rating Level II, or Rating Level III apply.
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Rating Level IV exists on any date if, on such date, the Company’s senior unsecured debt is rated BBB by S&P and Baa2 by Moody’s; or is rated at this level or higher by one of the rating agencies and no lower than BBB- or Baa3 by the other rating agency.
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Rating Level IV. If the Borrower's "senior debt" is rated equal to BB by S&P or Ba2 by Xxxxx'x but less than Rating Levels I, II, and III; and
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Rating Level IV means a period (other than a Rating Level I, a Rating Level II or a Rating Level III) during which the long-term senior unsecured debt rating of the Borrower is equal to or better than (i) BBB+ by S&P, or (ii) Baa1 by Xxxxx’x; provided that on or after the Second Amendment Effective Date, this term means a period (other than a Rating Level I, a Rating Level II or a Rating Level III) during which the long-term senior unsecured debt rating of the Borrower is equal to or better than (i) BBB- by S&P, or (ii) Baa3 by Xxxxx’x.
Sample 1
Rating Level IV means an Applicable Rate Rating of (x) BB+ or higher by S&P and Baa3 or higher by Moody's or (y) BBB- or higher by S&P and Ba1 or higher by Moody's, and none of Rating Level I, Rating Level II, or Rating Level III apply.
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Related to Rating Level IV

  • Applicable Rating Level at any time shall be determined in accordance with the then-applicable S&P Rating or the then-applicable Xxxxx’x Rating as follows: S&P Rating/Xxxxx’x Rating Applicable Rating Level S&P Rating AA or higher or Xxxxx’x Rating Aa2 or higher 1 S&P Rating AA- or Xxxxx’x Rating Aa3 2 S&P Rating A+ or Xxxxx’x Rating A1 3 S&P Rating A or Xxxxx’x Rating A2 4 S&P Rating A- or below or Xxxxx’x 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 Xxxxx’x Rating in effect on such day. If the S&P Rating and the Xxxxx’x 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 refers to the determination of which of Level I, Level II, Level III, Level IV, Level V or Level VI applies at any date.

  • Level III means a level of detail in the CPM Schedule which is an implementation (control) schedule used to direct the Work by providing schedule parameters to the more detailed implementation level, identify and resolve schedule problems, status progress in terms of Milestones, measure the impact of scope changes and delays, develop recovery plans, and support schedule-related contractual action. The work breakdown structure in the Level III CPM Schedule is at an area level, and shall involve over two thousand (2,000) activities. The Level III CPM Schedule is developed with the assistance of and accepted by Contractor’s Key Personnel. All Major Equipment (including bulk material requirements) are scheduled at area level and detailed construction activities at each commodity level follow the same area concept. The Subcontract schedules are similarly developed for each area, as applicable.

  • S&P Rating means, at any time, the rating issued by S&P and then in effect with respect to the Borrower’s senior unsecured long-term public debt securities without third-party credit enhancement (it being understood that if the Borrower does not have any outstanding debt securities of the type described above but has an indicative rating from S&P for debt securities of such type, then such indicative rating shall be used for determining the “S&P Rating”).

  • Debt Rating has the meaning specified in the definition of “Applicable Rate.”

  • Highest Rating Category means, with respect to an Eligible Investment, that the Eligible Investment is rated by S&P or Moody’s in the highest rating given by that rating agency for that general category of security. By way of example, the Highest Rating Category for tax-exempt municipal debt established by S&P is “A-1+” for debt with a term of one year or less and “AAA” for a term greater than one year, with corresponding ratings by Moody’s of “MIG-1” (for fixed rate) or “VMIG-1” (for variable rate) for three months or less and “Aaa” for greater than three months. If at any time (a) the Bonds are not rated, (b) both S&P and Moody’s rate an Eligible Investment and (c) one of those ratings is below the Highest Rating Category, then such Eligible Investment will, nevertheless, be deemed to be rated in the Highest Rating Category if the lower rating is no more than one rating category below the highest rating category of that rating agency. For example, an Investment rated “AAA” by S&P and “Aa3” by Xxxxx’x is rated in the Highest Rating Category. If, however, the lower rating is more than one full rating category below the Highest Rating Category of that rating agency, then the Eligible Investment will be deemed to be rated below the Highest Rating Category. For example, an Eligible Investment rated “AAA” by S&P and “A1” by Xxxxx’x is not rated in the Highest Rating Category.

  • RBC level means an insurer's company action level RBC, regulatory action level RBC, authorized control level RBC, or mandatory control level RBC where:

  • Closing Level : means the official daily Closing Level of the Index as published by the Index Sponsor in relation to each Scheduled Trading Day during the Investment Term.

  • Debt Ratings has the meaning specified in the definition of “Applicable Rate.”

  • Investment Grade Credit Rating means (a) with respect to Fitch, a credit rating of BBB- or higher, (b) with respect to Xxxxx’x, a credit rating of Baa3 or higher and (c) with respect to S&P, a credit rating of BBB- or higher.

  • Credit Rating means, with respect to any entity, the rating then assigned to such entity’s unsecured, senior long-term debt obligations (not supported by third party credit enhancements) or if such entity does not have a rating for its senior unsecured long-term debt, then the rating then assigned to such entity as an issuer rating by S&P, Moody’s or any other rating agency agreed by the Parties as set forth in the Cover Sheet.

  • Trigger Level means with respect to an Index, the level specified as such in Annex 1 with respect to such Index