(iv) if clauses (i) through (iii) do not apply, then the S&P Rating of such Collateral Obligation may be determined using any one of the methods below: (A) if an obligation of the obligor has a published rating from Moody's then the S&P Rating will be determined in accordance with the methodologies for establishing the Moody's Rating, except that the S&P Rating of such Collateral Obligation shall be (I) one subcategory below the S&P equivalent of the rating assigned by Moody's if such Collateral Obligation is rated "Baa3" or higher by Moody's and (2) two subcategories below the S&P equivalent of the rating assigned by Moody's if such Collateral Obligation is rated "Ba I" or lower by Moody's: provided that no more than 13% of the Collateral Obligations, by Aggregate Principal Balance, may be given an S&P Rating based on a rating given by Moody's as provided in this subclause (A): or (B) if no other security or obligation of the obligor is rated by S&P or Moody's. then the Issuer or the Investment Manager on behalf of the Issuer, shall apply to S&P for a rating estimate, which shall be its S&P Rating; provided that, pending receipt. its S&P Rating will be determined as set forth in clause (vii) below; (v) if it is a Structured Finance Obligation: (A) if such obligation has a published rating from S&P, then its S&P Rating shall be such rating (B) if such obligation does not have a published rating from S&P but has a published rating from Moody's. then the S&P Rating shall be determined in accordance with the methodologies for establishing the Moody's Rating, except that the S&P Rating of such Structured Finance Obligation shall be (1) two subcategories below the S&P equivalent of the rating assigned by Moody's if such Structured Finance Obligation is rated "Baa3" or higher by Moody's and (2) three subcategories below the S&P equivalent of the rating assigned by Moody's if such Structured Finance Obligation is rated "Bah" or lower by Moody'