Ratings Threshold means there is in effect by both Xxxxx’x and S&P a corporate credit rating of the Borrower and ratings for the Facilities of at least Baa3 or BBB-, respectively, in each case, with stable outlook (or better).
Ratings Threshold means, with respect to the Hedge Counterparty or any transferee thereof, (a)(i) the rating of the long-term senior unsecured, unguaranteed and otherwise unsupported debt obligations of the related Hedge Ratings Determining Party or such transferee (or any affiliate of such transferee that unconditionally and absolutely guarantees the obligations of such transferee hereunder) is withdrawn, suspended or falls below “BBB-” by Standard & Poor’s or (ii) the rating of the short-term, unsecured, unguaranteed and otherwise unsupported debt obligations of the related Hedge Ratings Determining Party or such transferee (or any affiliate of such transferee that unconditionally and absolutely guarantees the obligations of such transferee hereunder) is withdrawn, suspended or falls below “A-3” by Standard & Poor’s or (b)(i) if the related Hedge Ratings Determining Party or such transferee (or any affiliate of such transferee that unconditionally and absolutely guarantees the obligations of such transferee hereunder) has an unsecured, unguaranteed and otherwise unsupported long-term debt rating by Moody’s (and not a short-term rating), the rating of the long-term senior unsecured, unguaranteed and otherwise unsupported debt obligations of the related Hedge Ratings Determining Party or such transferee (or any affiliate of such transferee that unconditionally and absolutely guarantees the obligations of such transferee hereunder) is withdrawn, suspended or falls to or below “A2” by Moody’s or (ii) if the related Hedge Ratings Determining Party or such transferee (or any affiliate of such transferee that unconditionally and absolutely guarantees the obligations of such transferee hereunder) has both a long-term and a short-term rating, (x) the rating of the unsecured, unguaranteed and otherwise unsupported long-term senior debt obligations of the related Hedge Ratings Determining Party or such transferee (or any affiliate of such transferee that unconditionally and absolutely guarantees the obligations of such transferee hereunder) falls to or below “A3” by Moody’s and (y) the rating of the unsecured, unguaranteed and otherwise unsupported short-term senior debt obligations of the related Hedge Ratings Determining Party or such transferee (or any affiliate of such transferee that unconditionally and absolutely guarantees the obligations of such transferee hereunder) falls to or below “P-2” by Moody’s or (c)(i) the rating of the long-term senior unsecured, unguaranteed and o...
Ratings Threshold means a rating equal to or higher than at least two of the following ratings: Ba3 (or the equivalent) by Xxxxx’x, XX- (or the equivalent) by S&P and BB- (or the equivalent) by Fitch, or an equivalent rating by any other Rating Agency.
Examples of Ratings Threshold in a sentence
It shall be a ratings event (“Ratings Event”) if at any time after the date hereof, the Relevant Entity shall fail to satisfy the Hedge Counterparty Ratings Threshold or the Relevant Entity is no longer rated by S&P.
It shall be a ratings event ("Ratings Event") if at any time after the date hereof Party A shall fail to satisfy the Swap Counterparty Ratings Threshold.
In the event that no Relevant Entity has credit ratings at least equal to the Required Ratings Threshold (such event, a “Required Ratings Downgrade Event”), then Party A shall, as soon as reasonably practicable and so long as a Required Ratings Downgrade Event is in effect, at its own expense, using commercially reasonable efforts, procure either (A) a Permitted Transfer or (B) an Eligible Guarantee from an Eligible Guarantor.
In the event that no Relevant Entity has credit ratings at least equal to the Required Ratings Threshold (such event, a "Required Ratings Downgrade Event"), then Party A shall, as soon as reasonably practicable and so long as a Required Ratings Downgrade Event is in effect, at its own expense, using commercially reasonable efforts, procure either (A) a Permitted Transfer or (B) an Eligible Guarantee from an Eligible Guarantor.
In the event that no Relevant Entity has credit ratings at least equal to the Required Ratings Threshold of each relevant Swap Rating Agency (such event, a "Required Ratings Downgrade Event"), then Party A shall, as soon as reasonably practicable and so long as a Required Ratings Downgrade Event is in effect, at its own expense, use commercially reasonable efforts to procure either (A) a Permitted Transfer or (B) an Eligible Guarantee from an Eligible Guarantor.
More Definitions of Ratings Threshold
Ratings Threshold means there is in effect by either Moody’s or S&P a corporate credit rating of the Company and ratings for the Facilities of at least Baa3 or BBB-, respectively, so long as the other rating agency has provided ratings of at least Ba1 or BB+, respectively.
Ratings Threshold means ratings from (i) Xxxxx’x of “Baa3” (or its equivalent),
Ratings Threshold means, with respect to the Hedge Counterparty or any transferee thereof, (a)(i) the rating of the long-term senior unsecured, unguaranteed and otherwise unsupported debt obligations of the related Hedge Ratings Determining Party or such transferee (or any affiliate of such transferee that unconditionally and absolutely guarantees the obligations of such transferee hereunder) is withdrawn, suspended or falls below “BBB-” by Standard & Poor’s or (ii) the rating of the short-term, unsecured, unguaranteed and otherwise unsupported debt obligations of the related Hedge Ratings Determining Party or such transferee (or any affiliate of such transferee that unconditionally and absolutely guarantees the obligations of such transferee hereunder) is withdrawn, suspended or falls below “A-3” by Standard & Poor’s.
Ratings Threshold means that (x) the Borrower’s corporate family rating is Ba2 (with a stable or positive outlook) or better by Xxxxx’x and corporate credit rating is BB (with a stable or positive outlook) or better by S&P and (y) the rating on the Permanent Securities or Alternative Loans, as applicable, is B1 or better by Xxxxx’x and B+ or better by S&P.
Ratings Threshold means (i) the Xxxxx’x Credit Rating is Baa3 or higher (with at least a stable outlook) and (ii) the S&P Credit Rating is BBB- or higher (with at least a stable outlook).
Ratings Threshold means (i) the Moody’s Credit Rating is Baa3 or higher (with at least a stable outlook) and (ii) the S&P Credit Rating is
Ratings Threshold means, with respect to a Hedge Counterparty, (a) either (i) the unsecured, unguaranteed and otherwise unsupported short-term debt obligations of such Hedge Counterparty (or any Affiliate of such Hedge Counterparty that unconditionally and absolutely guarantees the obligations of such Hedge Counterparty under the related Hedge Agreement) are rated at least "A-1" by Standard & Poor's or (ii) if such Hedge Counterparty (or any Affiliate of such Hedge Counterparty that unconditionally and absolutely guarantees the obligations of such Hedge Counterparty under the related Hedge Agreement) does not have a short-term rating from Standard & Poor's, the unsecured, unguaranteed and otherwise unsupported long-term senior debt obligations of such Hedge Counterparty (or any Affiliate of such Hedge Counterparty that unconditionally and absolutely guarantees the obligations of such Hedge Counterparty under the related Hedge Agreement) are rated at least "A+" by Standard & Poor's, (b) (i) the unsecured, unguaranteed and otherwise unsupported long-term senior debt obligations of such Hedge Counterparty (or any Affiliate of such Hedge Counterparty that unconditionally and absolutely guarantees the obligations of such Hedge Counterparty under the related Hedge Agreement) are rated at least "A3" by Moody's (provided that the Ratings Threshold shall not be satisfied with respect to such Hedge Counterparty pursuant to this clause (b)(i) if such obligations are rated "A3" by Moody's and such rating is on watch for possible downgrade) and (ii) the unsecured, unguaranteed and otherwise unsupported short-term debt obligations of such Hedge Counterparty (or any Affiliate of such Hedge Counterparty that unconditionally and absolutely guarantees the obligations of such Hedge Counterparty under the related Hedge Agreement) are rated at least "P-1" by Moody's (provided that the satisfaction of the Ratings Threshold with respect to such Hedge Counterparty pursuant to this clause (b)(ii) shall not be affected if such obligations are rated "P-1" by Moody's and such rating is on watch for possible downgrade) and (c) either (i) the unsecured, unguaranteed and otherwise unsupported long-term senior debt obligations of such Hedge Counterparty or such transferee (or any affiliate of such Hedge Counterparty or such transferee that unconditionally and absolutely guarantees the obligations of such Hedge Counterparty or such transferee under the Hedge Agreement) are rated at least "A" by Fitch or (i...