How is Highest Rating defined in a legal contract?
- Highest Rating means the rating that does not trigger a Ratings Event, specifically with reference to Moody's rating, P-1, or Aaa, and, S&P's rating, A-1+ or AAA. This rating should be confirmed in writing. Seen in 7 SEC filings.
- Highest Rating means the ratings of Moody's, P-1 or Aaa and, Standard & Poor's, A-1+ or AAA. These are ratings that will not cause a Ratings Event, leading a Rating Agency to reduce or withdraw its rating on any class of any outstanding series. Seen in 5 SEC filings.
- Highest Rating means regarding Moody's is P-1 or Aaa, and for Standard & Poor's it's A-1 + or AAA. These ratings, whether for Standard & Poor’s or Moody’s, must be ones that won't result in a reduction or withdrawal of the rating of any Class of any Series that's then outstanding. Again, this must be confirmed in writing. Seen in 3 SEC filings.
Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
Search EDGAR for 'Definitions of highest rating' yourself to verify these results. We are always keen to point people to source documents.
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Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
- Highest Rating means the highest possible rating from Moody's (P-1 or Aaa) or S&P (A-1+ or AAA) that won't cause a Ratings Event.
Relevant Contract Types
Relevant Circumstances
- When a business entity is borrowing or lending money.
- When a company is issuing bonds or securities.
- When determining rates for financial transactions based on creditworthiness.
- When contractually obligating maintenance of credit ratings as part of credit-related agreements.
Relevant Sectors
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Highest Rating means the highest possible rating from Moody's (P-1 or Aaa) or S&P (A-1+ or AAA) that won't cause a Ratings Event.
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