Ratings Test definition

Ratings Test has the meaning given in Clause 3.1(c)(i) of Appendix A (General Terms and Conditions);

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Ratings Test means, with respect to the Parent, that the rating established by S&P or Moody’s of the Index Debt of the Parent is not less than BBB- or Baa3, respectively.

Ratings Test has the meaning given in Clause 32.19(i) of Appendix A (General Terms and Conditions);

Examples of Ratings Test in a sentence

Only energy discharged and delivered at the Energy Delivery Point during Storage Rating Tests shall be included in all calculations of the Storage Ratings Test.
Subject to Clause 4.2 (Additional Conditions Precedent) and the other terms of this Agreement, the repayment of any New Term Advance that is agreed by the Borrowers with the Issuer, the Borrower Security Trustee and Ambac (for so long as Ambac is the Controlling Creditor) as being available for redrawing may be redrawn, provided that the Rating Agencies confirm that the Ratings Test will continue to be satisfied or otherwise indicate no objection to such redrawing.
The Rating Agencies confirm in writing to the Borrower Security Trustee that the Ratings Test will be satisfied after the accession of any Additional Borrower to the Issuer/Borrower Facility Agreement.
The Cash Manager on behalf of all of the Obligors, may, upon not less than fifteen Business Days' prior written notice to the Working Capital Facility Provider and with the prior written consent of the Borrower Security Trustee and Ambac, and subject to a Ratings Test, cancel the whole or any part of (but, if in part, being an amount of or integral multiple of £1,000,000) the WCF Commitment.
Confirmation in writing from the Rating Agencies is delivered to the Issuer and the Borrower Security Trustee that the Ratings Test will be satisfied after the accession of any Additional Chargor to this Agreement.

More Definitions of Ratings Test

Ratings Test has the meaning given in Clause 2.9(a) of Appendix A (General Terms and Conditions); “Re-Allocated Capacity“ means Capacity (including Surrendered Capacity) that is re-allocated from an IAA Shipper to another IAA Shipper in accordance with the IUK Access Code;

Ratings Test means, in respect to any Person, that such Person has a Credit R ating of at least [AA] by S&P and [Aa2] by ▇▇▇▇▇’▇.

Ratings Test has the meaning assigned thereto in Section 9.18(b).

Ratings Test means a Rating from Standard & Poor’s Rating Services of at least BBB+, from ▇▇▇▇▇’▇ Investors Service Limited of at least Baa1 or from Fitch Ratings Incorporated of at least BBB+;

Ratings Test means confirmation from the Rating Agencies that, in respect of any event or matter where such confirmation is required, the then current ratings of the Notes and the Underlying Rating will not be adversely affected by the relevant event or matter.

Ratings Test means confirmation from the Rating Agencies that, in respect of any event or matter where such confirmation is required, the then current ratings of the Notes will not be subject to downgrade, withdrawal or suspension or put on negative creditwatch by the relevant event or matter;

Ratings Test means confirmation from the Rating Agencies (or where specified, one of them) that, in respect of any event or matter where such confirmation is required, the then current ratings of the Notes will not be materially adversely affected to the extent of being downgraded, qualified or withdrawn by the relevant event or matter;