Rating Level 3 definition

Rating Level 3 means that Rating ▇▇▇▇▇ ▇ and Rating Level 2 do not apply and the Debt Rating is A3 by Moody's or A- by S&P.
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Rating Level 3 means a rating of the Rated Securities equal to Baa1 by Moody's or BBB+ by S&P.
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Rating Level 3 means a period that is not a Rating Level 1 or a Rating Level 2 during which the ▇▇▇▇▇’▇ Rating is at or above A2 or the Standard & Poor’s Rating is at or above A;
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Examples of Rating Level 3 in a sentence

  • During any Rating Level 3 Period or Rating Level 4 Period, the Servicer shall deliver to each Managing Agent and the Seller, no later than 11:00 a.m., New York City time, on each Business Day, a Daily Report setting forth total Collections received and Receivables originated during the immediately preceding Business Day, the Net Receivables Pool Balance at the end of the immediately preceding Business Day, and such other information as the Administrative Agent or any Managing Agent may reasonably request.

  • One of the following five pricing levels, as applicable, and provided, that the initial Applicable Margin shall be at Credit Rating Level 3: Credit Rating Level 1.

  • The Credit Rating Level which would be applicable for so long as the Credit Rating is greater than or equal to A- by S&P or A3 by ▇▇▇▇▇’▇ and Credit Rating Level 1 is not applicable; Credit Rating Level 3.

  • Rating Agency 1 (e.g. Standard and Poors) Credit Rating Level 1 = AAA Credit Rating Level 2 = AA+ Credit Rating Level 3 = AA Credit Rating Level 4 = AA- Credit Rating Level 5 = A+ Credit Rating Level 6 = A Credit Rating Level 7 = A- • Credit Rating Level 8 = BBB+ Credit Rating Level 9 = BBB • Credit Rating Level 10 = BBB- Etc.

  • One of the following five pricing levels, as applicable, and provided, that the initial Applicable Margin shall be at Credit Rating Level 3.

  • The Credit Rating Level which would be applicable for so long as the Credit Rating is greater than or equal to A- by S&P or A3 by M▇▇▇▇’▇ and Credit Rating Level 1 is not applicable; Credit Rating Level 3.


More Definitions of Rating Level 3

Rating Level 3 means (a) no Specified Event of Default has occurred and is continuing, (b) the ▇▇▇▇▇'▇ Rating is A3 or the S&P Rating is A- and (c) neither Rating ▇▇▇▇▇ ▇ nor Rating Level 2 is in effect.
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Rating Level 3 means, as at any date of determination -------------- thereof, that the rating of any long-term unsecured debt issues of the Originator (a) most recently published by S&P is less than BB- and (b) most recently published by ▇▇▇▇▇'▇ is less than Ba3; provided, that for purposes of the definitions of "Rating Level 1", "Rating -------- Level 2" and "Rating Level 3", (A) all reference to debt of the Originator shall include debt of the Originator as successor by merger to Armco, and (B) if the rating of the long-term unsecured debt issues of the Originator most recently published by S&P differs by more than one rating step from such rating published by Moody's, the applicable Rating Level shall be based only on the lower of such ratings. For purposes of the definitions of "Rating Level 1", "Rating ▇▇▇▇▇ ▇" and "Rating Level 3", the following shall be deemed to be the equivalent rating steps of S&P and Moody's respectively: Equivalent
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Rating Level 3 means (a) so long as no Debt Rating from S&P or Mood▇'▇ ▇▇ obtained by the Company, then a Debt Rating of BBB 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 BBB- (or higher) from S&P or Baa3 (or higher) from Mood▇'▇.
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Related to Rating Level 3

  • Applicable Rating Level at any time shall be determined in accordance with the then-applicable S&P Rating or the then-applicable ▇▇▇▇▇’▇ Rating as follows: S&P Rating/▇▇▇▇▇’▇ Rating Applicable Rating Level S&P Rating AA or higher or ▇▇▇▇▇’▇ Rating Aa2 or higher 1 S&P Rating AA- or ▇▇▇▇▇’▇ Rating Aa3 2 S&P Rating A+ or ▇▇▇▇▇’▇ Rating A1 3 S&P Rating A or ▇▇▇▇▇’▇ Rating A2 4 S&P Rating A- or below or ▇▇▇▇▇’▇ Rating A3 or below or unrated 5 The Applicable Rating Level for any day shall be determined based upon the higher of the S&P Rating and the ▇▇▇▇▇’▇ Rating in effect on such day. If the S&P Rating and the ▇▇▇▇▇’▇ Rating are not the same (i.e., a “split rating”), the higher (better) of such ratings shall control, unless the ratings differ by more than one level, in which case the rating one level below the higher 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) ▇▇▇▇▇’▇ is Baa3 or higher and (ii) none of Pricing Level I, Pricing Level II, Pricing Level III or Pricing Level IV applies.

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

  • 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 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.