Speculative Grade definition

Speculative Grade. BB: Speculative. "
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Speculative Grade means a credit quality rating of B-, B3 or its credit equivalent, or above but below Investment Grade, as rated by an internationally recognized rating agency in line with applicable regulations. Where an investment has three or more ratings leading to different assessments, the lower of the two best credit ratings shall be taken. Where an investment has two ratings, the lower rating shall be taken. If an investment is unrated by an internationally recognized rating agency, its credit quality will be determined by the Investment Manager (or its delegate) in its discretion in line with applicable regulations.
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Examples of Speculative Grade in a sentence

  • However, the opposite was true for Speculative Grade Securities (figure 14, top and middle panels).

  • The External Rating and/or the Internal Rating will be verified at least (i) annually relating to Investment- Grade (as defined in the section “Definitions”, but including Fitch Ratings) or equivalently assessed assets and (ii) once a quarter relating to Speculative Grade (as defined in the section “Definitions”, but including Fitch Ratings) or equivalently assessed assets and (iii) in each case more frequently if indicated by other negative circumstances.

  • The comparison between the two rating agencies is shown in the following table:Table 2: Relationship between S&P and Moody’s ratings S&PMoody’sInvestment GradeRatings of BBB-/Baa3 and above are regarded as Investment Grade (IG) and those of BB+/Ba1 and below are regarded as Non-Investment Grade (NIG) or Speculative Grade.

  • Speculative Grade Debt rated BB, B, CCC, CC and C is regarded as having predominantly speculative characteristics with respect to capacity to pay interest and repay principal.

  • Hatfield, abstracted in CFA Digest (Spring 1997).1993: , ., "Speculative Grade Ratings and the Investment Decision Process: A Survey of Institutional Money Managers," Delvin D.

  • Speculative Grade BB: indicate that there is a possibility of credit risk developing, particularly as the result of adverse economic change over time; however, business or financial alternatives may be available to allow financial commitments to be met.

  • Moody's affirmed AMG's B1 corporate family rating, B1-PD probability of default rating and SGL-2 Speculative Grade Liquidity Rating.

  • The present study will focus on the so-called Plus or Minus (POM) and Investment Grade vs Speculative Grade (IGSG) tests constructed by Kisgen (2006) in the empirical investigation of his CR-CS hypothesis.

  • Moody’s also affirmed the Speculative Grade Liquidity rating of SGL-2, signifying good liquidity and changed the rating outlook to negative from stable.

  • Speculative Grade B Adequate capacity for timely repayment that could be seriously affected by unexpected adversities.

Related to Speculative Grade

  • Investment Grade Credit Rating means (i) a Credit Rating of Baa3 or higher given by Xxxxx’x, (ii) a Credit Rating of BBB- or higher given by S&P or (iii) a Credit Rating of BBB- or higher given by Fitch.

  • Investment Grade means a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating categories of Moody’s); a rating of BBB- or better by S&P (or its equivalent under any successor rating categories of S&P); and the equivalent investment grade credit rating from any additional Rating Agency or Rating Agencies selected by the Company.

  • Commodity contract means a commodity futures contract, an option on a commodity futures contract, a commodity option, or another contract if the contract or option is:

  • Applicable Credit Rating For any long-term deposit or security, a credit rating of "AAA" in the case of S&P or "Aaa" in the case of Xxxxx'x. For any short-term deposit or security, a rating of "A-l+" in the case of S&P or "P-1" in the case of Xxxxx'x.

  • Finished grade means the grade upon completion of the fill or excavation.

  • Highest adjacent grade means the highest natural elevation of the ground surface prior to construction next to the proposed walls of a structure.

  • Commodity Hedging Agreements means, in respect of a Person, any commodity purchase contract, commodity futures or forward contract, commodities option contract or other similar contract (including commodities derivative agreements or arrangements), to which such Person is a party or a beneficiary.

  • Portfolio Investment means any Investment held by the Borrower and its Subsidiaries in their asset portfolio.

  • Commodity Interests means commodity futures contracts, options on commodity futures contracts, and options on physical commodities traded on or subject to the rules of:

  • Investment Grade Securities means:

  • Commodity Hedging Agreement means a commodity hedging or purchase agreement or similar arrangement entered into with the intent of protecting against fluctuations in commodity prices or the exchange of notional commodity obligations, either generally or under specific contingencies.

  • Credit Rating means the rating assigned by a Rating Agency to the senior unsecured long term Indebtedness of a Person.

  • Permitted Asset Swap means the substantially concurrent purchase and sale or exchange of Related Business Assets or a combination of Related Business Assets and Cash Equivalents between the Issuer or any of its Restricted Subsidiaries and another Person; provided that any Cash Equivalents received must be applied in accordance with Section 4.10 hereof.

  • Forward Hedge Amount means, for any Forward, the amount specified as such in the Placement Notice for such Forward (as amended by the corresponding Acceptance, if applicable), which amount shall be the target Aggregate Sales Price of the Forward Hedge Securities to be sold by the Forward Seller or an Alternative Forward Seller in respect of such Forward, subject to the terms and conditions of this Agreement or the Alternative Distribution Agreement, as applicable.

  • Poverty level means the annual family income for a family unit of a particular size, as specified in the poverty guidelines updated annually in the Federal Register by the U.S. Department of Health and Human Services.

  • Portfolio Investments has the meaning set forth in the introductory section of this Agreement.

  • Eligible Portfolio Investment means any Portfolio Investment held by any Obligor (and solely for purposes of determining the Borrowing Base, Cash and Cash Equivalents held by any Obligor) that, in each case, meets all of the criteria set forth on Schedule 1.01(d) hereto; provided, that no Portfolio Investment, Cash or Cash Equivalent shall constitute an Eligible Portfolio Investment or be included in the Borrowing Base if the Collateral Agent does not at all times maintain a first priority, perfected Lien (subject to no other Liens other than Eligible Liens) on such Portfolio Investment, Cash or Cash Equivalent or if such Portfolio Investment, Cash or Cash Equivalent has not been or does not at all times continue to be Delivered (as defined in the Guarantee and Security Agreement). Without limiting the generality of the foregoing, it is understood and agreed that any Portfolio Investments that have been contributed or sold, purported to be contributed or sold or otherwise transferred to any Financing Subsidiary, or held by any Financing Subsidiary, or which secure obligations of any Financing Subsidiary, shall not be treated as Eligible Portfolio Investments. Notwithstanding the foregoing, nothing herein shall limit the provisions of Section 5.12(b)(i), which provide that, for purposes of this Agreement, all determinations of whether an Investment is to be included as an Eligible Portfolio Investment shall be determined on a settlement-date basis (meaning that any Investment that has been purchased will not be treated as an Eligible Portfolio Investment until such purchase has settled, and any Eligible Portfolio Investment which has been sold will not be excluded as an Eligible Portfolio Investment until such sale has settled); provided that no such Investment shall be included as an Eligible Portfolio Investment to the extent it has not been paid for in full.

  • Eligible In-Transit Inventory means, as of any date of determination thereof, without duplication of other Eligible Inventory, In-Transit Inventory:

  • Permitted Bond Hedge Transaction means any call or capped call option (or substantively equivalent derivative transaction) on the Parent’s common Equity Interests purchased by the Parent in connection with the issuance of any Convertible Indebtedness; provided that the purchase price for such Permitted Bond Hedge Transaction does not exceed the net proceeds received by the Parent from the sale of such Convertible Indebtedness issued in connection with the Permitted Bond Hedge Transaction.

  • Highest Adjacent Grade (HAG means the highest natural elevation of the ground surface, prior to construction, immediately next to the proposed walls of the structure.

  • Acceptable Credit Rating means a minimum long term credit rating of either BBB from Standard & Poors or Baa2 from Xxxxx’x; Access Undertaking means:

  • Hedging Arrangement means a hedge, call, swap, collar, floor, cap, option, forward sale or purchase or other contract or similar arrangement (including any obligations to purchase or sell any commodity or security at a future date for a specific price) which is entered into to reduce or eliminate or otherwise protect against the risk of fluctuations in prices or rates, including interest rates, foreign exchange rates, commodity prices and securities prices.

  • Gross vehicle weight rating means the weight specified by the manufacturer as the loaded weight of a single vehicle.

  • Lowest Adjacent Grade (LAG means the elevation of the ground, sidewalk or patio slab immediately next to the building, or deck support, after completion of the building.

  • Pay grade means the monthly salary applicable to class titles of service personnel;

  • Hedging Arrangements means, with respect to any Person, any agreements or other arrangements (including interest rate swap agreements, interest rate cap agreements and forward sale agreements) entered into to protect that Person against changes in interest rates or the market value of assets.