Issuer Rating means, as of any date of determination, the corporate or issuer rating as determined by either S&P or Xxxxx’x of the Borrower.
Issuer Rating means, as of any date of determination, the long-term issuer credit rating as determined by either S&P or Moody’s (collectively, the “Issuer Ratings”) of the Borrower. In the case of a split rating, the higher rating will apply (with Pricing Level 1 above being the highest and Pricing Level 5 above being the lowest), in the case of a multiple split rating, the rating that is one level lower than the higher rating will apply, and in the case of only one rating, such rating will apply. Effective as of the Closing Date, the Applicable Margin shall be based on Pricing Level 3. Thereafter, each change in the Applicable Margin resulting from a publicly announced change in the Issuer Rating shall be effective during the period commencing on the date of the public announcement thereof and ending on the date immediately preceding the effective date of the next such change. Notwithstanding the foregoing, at any time no Issuer Rating exists, the Applicable Margin shall be based on Pricing Level 5.
Issuer Rating means the rating assigned to the Company by S&P which is referenced as the "corporate credit rating" of the Company by S&P.
Examples of Issuer Rating in a sentence
If the "credit enhancement of mortgage collateral" is insufficient for the above-mentioned level of "stress resilience of mortgage collateral", the rating for the JHF MBS will not be lower than the Issuer Rating for JHF, but the width of notching up (the extent by which JHF MBS' rating is above JHF's Issuer Rating) will be smaller.
Specifically, JHF MBS' rating could exceed JHF's Issuer Rating by 3 notches for the AAA level "stress resilience of mortgage collateral" and by 2 notches for the AA to A level "stress resilience of mortgage collateral".
Distance from the government (e.g. Importance under the government's policy)(a) Sufficient collateral with credit enhancement(b) The Corporate Rehabilitation Law does not apply; no major limit on asset disposal2) Deterioration in stress resilience of mortgage collateralThere is risk that as cases of default by obligors increase, "credit enhancement of mortgage collateral" will be less adequate and the width of notching up from JHF's Issuer Rating will be smaller.
Nevertheless, because sufficient overcollateralization has been set, and the Corporate Rehabilitation Law, which would greatly limit JHF’s ability to dispose of assets, does not apply, the rating for the JHF MBS may be higher than the Issuer Rating for JHF itself.
Because JHF is the issuer of the JHF MBS, any downgrade of JHF’s Issuer Rating (currently AAA; Rating Outlook: Negative) prior to the time when the beneficial interests are exercised could result in a downgrade of the rating for the JHF MBS.
More Definitions of Issuer Rating
Issuer Rating means the opinion of a particular Rating Agency of the ability of the applicable Person to honour senior unsecured financial obligations and contracts, without taking into account any form of credit enhancements, with such opinion focusing on the capacity and willingness of such Person to meet its financial commitments as they become due;
Issuer Rating means, as of any date of determination, the long-term issuer credit rating as determined by either S&P or Xxxxx’x (collectively, the “Issuer Ratings”) of the Borrower. In the case of a split rating, the higher rating will apply (with Pricing Level 1 above being the highest and Pricing Level 5 above being the lowest), in the case of a multiple split rating, the rating that is one level lower than the higher rating will apply, and in the case of only one rating, such rating will apply. Effective as of the Closing Date, the Applicable Margin shall be based on Pricing Level 3. Thereafter, each change in the Applicable Margin resulting from a publicly announced change in the Issuer Rating shall be effective during the period commencing on the date of the public announcement thereof and ending on the date immediately preceding the effective date of the next such change. Notwithstanding the foregoing, at any time no Issuer Rating exists, the Applicable Margin shall be based on Pricing Level 5.
Issuer Rating means, as of any date of determination, the long-term issuer credit rating as determined by either S&P or Xxxxx’x (collectively, the “Issuer Ratings”) of the Company. In the case of a split rating, the higher rating will apply (with Pricing Level 1 above being the highest and Pricing Level 7 above being the lowest), in the case of a multiple split rating, the rating that is one level lower than the higher rating will apply, and in the case of only one rating, such rating will apply. Effective as of the Closing Date, the Applicable Margin shall be based on Pricing Level 4. Thereafter, each change in the Applicable Margin resulting from a publicly announced change in the Issuer Rating shall be effective during the period commencing on the date of the public announcement thereof and ending on the date immediately preceding the effective date of the next such change. Notwithstanding the foregoing, at any time no Issuer Rating exists, the Applicable Margin shall be based on Pricing Level 7.
Issuer Rating means, on the date of determination, the issuer/family ratings by S&P and Moody’s of Borrower. For purposes of the foregoing, if the Issuer Ratings established or deemed to have been established by Moody’s and S&P shall be changed (other than as a result of a change in the rating system of Moody’s or S&P), such change shall be effective as of the date on which it is first announced by the applicable rating agency, irrespective of when notice of such change shall have been furnished by Borrower to the Agents and the Lenders pursuant to Section 5.2(a)(ii) hereof or otherwise. If the rating system of Moody’s or S&P shall change, or if any such rating agency shall cease to be in the business of rating corporate debt obligations, Borrower and the Lenders shall negotiate in good faith to amend this definition to reflect such changed rating system or the unavailability of ratings from such rating agency and, pending the effectiveness of any such amendment, the Issuer Rating shall be determined by reference to the rating most recently in effect prior to such change or cessation.
Issuer Rating means, as of any date of determination, the long-term issuer credit rating as determined by either S&P or Xxxxx'x (collectively, the "Issuer Ratings") of the Company. In the case of a split rating, the higher rating will apply (with Pricing Level 1 above being the highest and Pricing Level 7 above being the lowest), in the case of a multiple split rating, the rating that is one level lower than the higher rating will apply, and in the case of only one rating, such rating will apply. Initially, the Applicable Margin shall be based on Pricing Level 3. Thereafter, each change in the Applicable Margin resulting from a publicly announced change in the Issuer Rating shall be effective during the period commencing on the date of the public announcement thereof and ending on the date immediately preceding the effective date of the next such change.
Issuer Rating is defined as: • Xxxxx'x Issuer Rating • Standard & Poor’s LT Local Issuer Credit Rating • Xxxxx XX Issuer Default Rating BB&T’s Issuer Rating will be considered “investment grade” as long as two (2) of the three (3) rating agencies maintain an Issuer Rating for BB&T that is equal to or better than the following applicable rating: • Baa3 by Xxxxx'x • BBB- by Standard & Poor’s • BBB- by Fitch If any of the three (3) rating agencies named above (i.e., Xxxxx’x, Standard & Poor’s, and Fitch) should no longer qualify as a Nationally Recognized Statistical Rating Organization (“NRSRO”) then the Administrator may rely on the services of an additional NRSRO not listed above, that would generally be considered by the marketplace to be the next most significant provider of rating services for a financial services company of the size and complexity of BB&T. In the event that an individual rating agency, or all rating agencies as a whole, were to no longer provide an “Issuer Rating” the Administrator may use the most closely aligned equivalent rating category to the “Issuer Rating” (such as a senior debt rating) as the Issuer Rating for BB&T. and/or