Underlying Rating definition

Underlying Rating means the credit rating that Moody’s, S&P or Fitch would assign to the Bonds if the Bond Insurance Policy were not in full force and effect.
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Underlying Rating means the long-term rating unenhanced assigned by either of ▇▇▇▇▇’▇ or S&P.
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Examples of Underlying Rating in a sentence

  • Underlying Rating Rating Agency Baa2 Aa2 BBB- Baa2 Aa2 BBB- Fitch Ratings ▇▇▇▇▇’▇ Investors Service, Inc.

  • For every Notch Downgrade of the Underlying Rating assigned to the Bonds by any one or more of S&P, Moody’s or Fitch, below “A” with respect to S&P, “A2” with respect to Moody’s, or “A” with respect to Fitch, the Commitment Fee shall be increased by an additional five basis points (0.05%) per annum.

  • If any one or more of S&P, Moody’s of Fitch withdraw or suspend the Underlying Rating assigned the Bonds or reduce such Underlying Rating below “BBB-” with respect to S&P, “Baa3” with respect to Moody’s, or “BBB-” with respect to Fitch, the Commitment Fee shall be increased by an additional one hundred basis points (1.00%) per annum.

  • The Underlying Rating is withdrawn, suspended or reduced below “BBB-” by S&P, “Baa3” by Moody’s or “BBB-” by Fitch.

  • In the event the Underlying Rating assigned the Bonds is subsequently upgraded, the Commitment Fee shall be restored to the corresponding lesser rate.