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Mobico (MCGLN; Ba2/NR/BBB-) double-notch downgrade

TRANSPORTATION
1.25% step-up on the sterling 28s {ZQ598509 Corp}

  • "Minimum Rating Requirement" means that the Notes have been publicly assigned an Investment Grade credit rating by at least two of the Rating Agencies and have not been publicly assigned a Non-Investment Grade rating by any Rating Agency as at any particular time except that any credit rating assigned and published by a Rating Agency on an unsolicited basis shall not be deemed to be "publicly assigned" for the purposes of thisdefinition"

  • "Step Up Rating Change" means (i) an Initial Step Up Event or (ii) a failure to meet the Minimum Rating Requirement at any time after the First Interest Payment Date;
  • "Step Up Margin" means a rate of 1.25 per cent. per annum;

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