MTN Certificate. You shall have received evidence satisfactory to you that each class of Class A Notes shall be rated "Aaa by Moody's and "AAA by S&P, that the Class B Notes shall be rated ▇▇ ▇▇▇▇r than "A1 by Moody's and no lower than "A by S&P and that the Class C Notes ▇▇▇▇▇ ▇e rated no lower than "Baa1 by Moody's and no lower than "BBB by S&P.
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MTN Certificate. You shall have received evidence satisfactory to you that each class of the Class A Notes shall be rated "Aaa Aaa" by Moody's Moodys and "AAA AAA" by S&P, that the Class B Notes shall be rated ▇▇ ▇▇▇▇r no lower than "A1 A1" by Moody's Moodys and no lower than "A A" by S&P and that the Class C Notes ▇▇▇▇▇ ▇e shall be rated no lower than "Baa1 Baa1" by Moody's Moodys and no lower than "BBB BBB" by S&P.
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Sources: Underwriting Agreement (Gracechurch Receivables Trustee LTD)