Sec. 11602. DEFINITIONS
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## SEC. 11602 DEFINITIONS Section 501 (45 U.S.C. 821) is amended— ####
(1)by redesignating paragraph
(8)as paragraph (10); ####
(2)by redesignating paragraphs
(6)and
(7)as paragraphs
(7)and (8), respectively; ####
(3)by inserting after paragraph
(5)the following: > > #### “(6) > > The term ‘**investment-grade rating**’ means a rating of BBB minus, Baa 3, bbb minus, BBB(low), or higher assigned by a rating agency.” > ; ####
(4)by inserting after paragraph (8), as redesignated, the following: > > #### “(9) > > The term ‘**master credit agreement**’ means an agreement to make 1 or more direct loans or loan guarantees at future dates for a program of related projects on terms acceptable to the Secretary.” > ; and ####
(5)by adding at the end the following: > > #### “(11) > > The term ‘**project obligation**’ means a note, bond, debenture, or other debt obligation issued by a borrower in connection with the financing of a project, other than a direct loan or loan guarantee under this title. > > > #### “(12) > > The term ‘**railroad**’ has the meaning given the term ‘**railroad carrier**’ in section 20102 of title 49, United States Code. > > > #### “(13) > > The term ‘**rating agency**’ means a credit rating agency registered with the Securities and Exchange Commission as a nationally recognized statistical rating organization (as defined in section 3(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a))). > > > #### “(14) > > The term ‘**substantial completion**’ means— > > > ##### “(A) > > the opening of a project to passenger or freight traffic; or > > > ##### “(B) > > a comparable event, as determined by the Secretary and specified in the terms of the direct loan or loan guarantee provided by the Secretary.” > .
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- 45 USC 821
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