Concentration Factor

Concentration Factor. Means, on any day with respect to any Obligor that has a senior unsecured rating: (i) from both S&P and Moody's of AA or greater and Aa2 or greater, 2.5%; (ii) from both S&P and Moody's of A or greater and A2 or greater (but from both S&P and Moody's, less than AA and Aa2), 2.0%, and (iii) from either S&P or Moody's of less than A or A2 or with no rating from either one or both of S&P or Moody's, 1.5%; except as otherwise specified in the definition of Special Obligor Concentration Factor... with respect to Special Obligors). View More