Rating Level 5 definition

Rating Level 5 means that Rating Xxxxx 0, Xxxxxx Xxxxx 0, Xxxxxx Xxxxx 0 and Rating Level 4 do not apply and the Debt Rating is Baa2 or lower by Moody’s or BBB or lower by S&P, and shall include any period during which neither Moody’s nor S&P shall have in effect a Debt Rating.
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Rating Level 5 means a period that is not a Rating Xxxxx 0, a Rating Xxxxx 0, a Rating Level 3 or a Rating Level 4.
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Rating Level 5 means (a) there exists a Xxxxx'x Rating or S&P Rating or both but (b) none of Rating Level 1, Rating Level 2, Rating Level 3 or Rating Level 4 is in effect.
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Examples of Rating Level 5 in a sentence

  • In the event that Borrower and/or Parent shall have obtained a credit rating from one or more of the Rating Agencies and shall thereafter lose such ratings (whether as a result of withdrawal, suspension, election to not obtain a rating, or otherwise) from each of the Rating Agencies, Borrower and/or Parent shall be deemed for the purposes hereof not to have a Credit Rating and Credit Rating Level 5 shall apply.

  • The Credit Rating Level which would be applicable for so long as the Credit Rating is greater than or equal to BBB by S&P or Baa2 by Mxxxx’x and Credit Rating Levels 1, 2 and 3 are not applicable; Credit Rating Level 5.

  • If at any time following the Rating Date neither S&P nor Xxxxx’x shall have assigned a Rating, then Rating Level 5 shall apply.


More Definitions of Rating Level 5

Rating Level 5 means (a) so long as no Debt Rating from S&P or Moodx'x xx obtained by the Company, then a Debt Rating of BB+ from Fitch, and (b) in the event that a Debt Rating is obtained from S&P and/or Moody's, then (i) if both ratings are obtained, the lower of, and (ii) if only one rating is obtained, then either a Debt Rating of BB (or higher) from S&P or Ba2 (or higher) from Moody's."
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Rating Level 5 means the rating level (if any) which exists whenever the Company does not qualify for Rating Level 1, 2, 3 or 4.
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Rating Level 5 means a period that is not a Rating Xxxxx 0, a Rating Xxxxx 0, a Rating Level 3 or a Rating Level 4; and provided further that if the Ratings shall be within different Rating Levels at any time (i.e., “split ratings”), the relevant Rating Level for purposes of determining the Applicable Facility Fee Rate, the Applicable Utilization Fee Rate and the Applicable Margin for Eurodollar Loans made to the Borrower shall be the higher of the two relevant Rating Levels, unless such Rating Levels differ by more than one Rating Level, in which case the Rating Level shall be one Rating Level above the lower of the two relevant Rating Levels and (B) for this purpose Rating Level 1 is the highest Rating Level and Rating Level 5 is the lowest Rating Level.
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Related to Rating Level 5

  • Applicable Rating Level at any time and for any Borrower shall be determined in accordance with the then-applicable S&P Rating and the then-applicable Xxxxx’x Rating for such Borrower as follows: S&P Rating/Xxxxx’x Rating Applicable Rating Level S&P Rating A or higher or Xxxxx’x Rating A2 or higher 1 S&P Rating A- or higher or Xxxxx’x Rating A3 or higher 2 S&P Rating BBB+ or Xxxxx’x Rating Baa1 3 S&P Rating BBB or Xxxxx’x Rating Baa2 4 S&P Rating BBB- or Xxxxx’x Rating Baa3 5 S&P Rating BB+ or below or Xxxxx’x Rating Ba1 or below, or no S&P Rating or Xxxxx’x Rating 6 The Applicable Rating Level for any Borrower and for any day shall be determined based upon the higher of the S&P Rating and the Xxxxx’x Rating for such Borrower in effect on such day. If the S&P Rating and the Xxxxx’x Rating are not the same (i.e., a “split rating”), the higher of such ratings shall control, unless (i) the ratings differ by more than one level, in which case the rating one level below the higher of the two ratings shall control, or (ii) either rating is below BBB- or Baa3 (as applicable), in which case the lower of the two ratings shall control.

  • Pricing Level V any time when (i) the senior unsecured long term debt rating of the Borrower by (x) S&P is BBB‑ or higher or (y) Xxxxx’x is Baa3 or higher and (ii) none of Pricing Level I, Pricing Level II, Pricing Level III or Pricing Level IV applies.

  • Pricing Level IV means any time when (i) no Event of Default has occurred and is continuing, (ii) the Senior Debt Rating is BBB- or higher by S&P or Baa3 or higher by Moody’s and (iii) Pricing Levels I, II and III do not apply.

  • Pricing Level refers to the determination of which of Level I, Level II, Level III, Level IV, Level V or Level VI Pricing applies on any day.

  • Pricing Level I shall exist on an Adjustment Date if the Consolidated Leverage Ratio for the relevant period is greater than or equal to 3.50 to 1.00.

  • Pricing Level III shall exist on an Adjustment Date if the Consolidated Leverage Ratio for the relevant period is less than 3.00 to 1.00 but greater than or equal to 2.50 to 1.00.

  • Pricing Level II shall exist on an Adjustment Date if the Consolidated Leverage Ratio for the relevant period is less than 3.50 to 1.00 but greater than or equal to 3.00 to 1.00.

  • S&P Rating means, at any time, the rating issued by S&P and then in effect with respect to the Borrower’s senior unsecured long-term debt securities without third-party credit enhancement.

  • Index Debt Rating means the S&P Rating, the Xxxxx’x Rating and the Fitch Rating.

  • Debt Rating has the meaning specified in the definition of “Applicable Rate.”

  • Level 5 means a project of greater than 2 MWac.

  • Moody’s Rating means, at any time, the rating issued by Moody's and xxxx xx effect with respect to the Borrower's senior unsexxxxx xong-term debt securities without third-party credit enhancement.

  • Level IV and “Level V”: the respective Level set forth below: S&P Moody’s Level I A- or higher A3 or higher Level II BBB+ Baa1 Level III BBB Baa2 Level IV BBB- Baa3 Level V BB+ or lower Ba1 or lower provided that if on any day the Applicable Xxxxx’x Rating and the Applicable S&P Rating do not coincide for any rating category and the Level differential is (x) one level, then the higher of the Applicable S&P Rating or the Applicable Xxxxx’x Rating will be the applicable Level; (y) two levels, the Level at the midpoint will be the applicable Level; and (z) more than two levels, the highest of the intermediate Levels will be the applicable Level; provided further that if on any day, neither the Applicable Xxxxx’x Rating nor the Applicable S&P Rating is available, the applicable Level shall be Level V.

  • Highest Rating Category means, with respect to a Permitted Investment, that the Permitted Investment is rated by S&P or Moody’s in the highest rating category given by that rating agency for that general category of security. By way of example, the Highest Rating Category for tax exempt municipal debt established by S&P is “A 1+” for debt with a term of one year or less and “AAA” for a term greater than one year, with corresponding ratings by Moody’s of “MIG 1” (for fixed rate) or “VMIG 1” (for variable rate) for three months or less and “Aaa” for greater than three months. If at any time (i) both S&P and Moody’s rate a Permitted Investment and (ii) one of those ratings is below the Highest Rating Category, then such Permitted Investment will, nevertheless, be deemed to be rated in the Highest Rating Category if the lower rating is no more than one rating category below the highest rating category of that rating agency. For example, a Permitted Investment rated “AAA” by S&P and “Aa3” by Moody’s is rated in the Highest Rating Category. If, however, the lower rating is more than one full rating category below the Highest Rating Category of that Rating Agency, then the Permitted Investment will be deemed to be rated below the Highest Rating Category. For example, a Permitted Investment rated “AAA” by S&P and “A1” by Moody’s is not rated in the Highest Rating Category.

  • Level I means a component of the federal PASRR requirement. Level I refers to the identification of individuals who are potential nursing facility admissions who have indicators of mental illness or developmental disabilities (42 CFR 483.128(a)).

  • Debt Ratings has the meaning specified in the definition of “Applicable Rate.”

  • Moody’s Second Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-2”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3”.

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

  • Closing Level : means the official daily Closing Level of the Index as published by the Index Sponsor in relation to each Scheduled Trading Day during the Investment Term.

  • Moody’s First Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A2” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-1”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A1”.

  • 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.

  • RBC level means an insurer's company action level RBC, regulatory action level RBC, authorized control level RBC, or mandatory control level RBC where:

  • DBRS Equivalent Rating means, with respect to any Person not rated by DBRS, (i) if such Person is rated by all three of Xxxxx’x, Standard & Poor’s and Fitch Ratings, Ltd. (together, the “Equivalent Rating Agencies”), either (A) if at least two Equivalent Rating Agencies have provided equivalent ratings with respect to such Person, the DBRS equivalent of such equivalent ratings (regardless of any rating from another Equivalent Rating Agency) or (B) otherwise, the median of the DBRS equivalents of the ratings for such Person provided by each of the three Equivalent Rating Agencies, (ii) if such Person is rated by any two of the Equivalent Rating Agencies, the DBRS equivalent of the lower of the ratings for such Person provided by the relevant Equivalent Rating Agencies or (iii) if such Person is rated by only one of the Equivalent Rating Agencies, the DBRS equivalent of the rating for such Person provided by such Equivalent Rating Agency.

  • Level 4 means a project of greater than 550 kWac and not more than 1 MWac.

  • Applicable Pricing Level means, for each Pricing Period the pricing level set forth below opposite the Debt Rating achieved by Borrower as of the first day of that Pricing Period: Pricing Level Debt Rating I Greater than or equal to A1 / A+ II Less than A1 / A+ but greater than or equal to A2 / A III Less than A2 / A but greater than or equal to A3 / A- V Less than Baa2/BBB provided that in the event that the then prevailing Debt Ratings are “split ratings”, Borrower will receive the benefit of the higher Debt Rating, unless the split is a “double split rating” (in which case the pricing level applicable to the middle Debt Rating will apply) or a “triple split rating” (in which case the pricing level applicable to the Debt Rating above the Debt Rating applicable to the lowest pricing level will apply). For purposes hereof, a Debt Rating is only a “split rating” if the Debt Rating applies to a different pricing level.