Shadow Rating definition

Shadow Rating means the rating of the Series 2005-2 Notes by Standard & Poor’s or ▇▇▇▇▇’▇, as applicable, without giving effect to the Surety Bond.

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Shadow Rating means a credit rating (not being an issuer credit rating) assigned to the Appointee by any reputable financial institution or firm of accountants applying principles, methodology and standards that are analogous to and consistent with those adopted by reputable credit rating agencies.

Shadow Rating means a metric developed by the Company to assess the creditworthiness of a tenant based on a review of corporate level financial information and assessment of business risks. A shadow rating does not constitute a published credit rating and lacks the extensive company participation that is typically involved when a rating agency publishes a rating and, accordingly, may not be as indicative of creditworthiness as a rating published by Moody's, S&P, or another nationally recognized statistical rating organization;

Examples of Shadow Rating in a sentence

If Tenant obtains a Shadow Rating equal to the levels stated above, Tenant shall be deemed to have achieved Investment Grade Status.
Notwithstanding the foregoing, it is understood and agreed that, so long as the Borrower, BCC and the Master Agent Servicer make a good faith effort to obtain a Minimum Shadow Rating in accordance with the provisions of this paragraph, the failure to obtain such Minimum Shadow Rating will not constitute an Event of Default hereunder.
The Borrower, BCC and the Master Agent Servicer shall, in consultation with the Agent, make a good faith effort to obtain a long-term shadow rating for the Advances from ▇▇▇▇▇’▇ (or, to the extent the Agent determines that such a shadow rating is not available from ▇▇▇▇▇’▇, from Fitch) of not less than the Minimum Shadow Rating within one year of the Closing Date.
Without intending to limit any other bases for withholding consent, it shall not be unreasonable for Financial Security to withhold any consent or approval required pursuant to the Agreement if the proposed change would result in the downgrading of a Shadow Rating.
The Borrower shall re-apply at least once every 12 months for a new ▇▇▇▇▇’▇ Shadow Rating or S&P Shadow Rating, as applicable, with respect to each Loan having a ▇▇▇▇▇’▇ Shadow Rating or S&P Shadow Rating, respectively, and shall pay all expenses associated with such application.

More Definitions of Shadow Rating

Shadow Rating means the rating of the Class A Notes by Standard & Poor’s or Moody’s, as applicable, without giving effect to the Insurance Policy.

Shadow Rating means the rating of the Class A Notes by Standard & Poor’s or ▇▇▇▇▇’▇, as applicable, without giving effect to the Insurance Policy.

Shadow Rating means the rating of the Series 2003-2 Notes by Standard & Poor's or ▇▇▇▇▇'▇, as applicable, without giving effect to the Surety Bond.

Shadow Rating means the rating of the Series 2006-1 Notes by Standard & Poor’s or Moody’s, as applicable, without giving effect to the Surety Bond.

Shadow Rating means the underlying rating for the time being assigned to the Wrapped Notes of the Issuer without taking account of the benefit of the Financial Guarantee.

Shadow Rating means rating of the Notes at investment grade by the Rating Agencies, without giving effect to the Policy.

Shadow Rating means the rating of the Series 2004-1 Notes without giving effect to the Insurance Policy.