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oody's or at least "BBB-" by Fitch, then the S&P Rating thereof will be one rating subcategory below the S&P equivalent rating of the lower of such Moody's rating or Fitch rating and (2) if such Structured Finance Obligation is rated below "Baa3" by Moody's or below "BBB:* by Fitch, then the S&P Rati
d economic conditions that default in its financial or other obligations is foreseeable in the near term if current operating trends continue. then the S&P Rating will be "CCC-": provided that the Collateral Manager must request from S&P an S&P credit rating on such Obligor within 30 days after the addition o
dy's or at least "BBB-" by Fitch, then the S&P Rating thereof will be two rating subcategories below the S&P equivalent rating of the lower of such Moody's rating or Fitch rating and (2) if such Structured Finance Obligation is rated below "Baa3" by Moody's or below "BBB=' by Fitch then the S&P Ratin
at is a Form- Approved Synthetic Security will be deemed to have the characteristics of the related Reference Obligation (other than for purposes of the S&P Rating and the S&P Recovery• Rate for such Synthetic Security)); provided...limber, that (i) no Synthetic Security may include Restructuring (as defined in
oody's or at least "BBB-" by Fitch, then the S&P Rating thereof will be one rating subcategory below the S&P equivalent rating of the lower of such Moody's rating or Fitch rating and (2) if such Structured Finance Obligation is rated below "Baa3" by Moody's or below "BBB:* by Fitch, then the S&P Rati
d economic conditions that default in its financial or other obligations is foreseeable in the near term if current operating trends continue. then the S&P Rating will be "CCC-": provided that the Collateral Manager must request from S&P an S&P credit rating on such Obligor within 30 days after the addition o
Entities connected to both Moody and the S&P Rating

Moody's
ORGANIZATIONObligor
ORGANIZATION
Fitch
ORGANIZATIONthe Collateral Principal Amount
ORGANIZATIONa Collateral Obligation
ORGANIZATIONS&P Rating
ORGANIZATIONthe Moody's Rating
ORGANIZATION