11.4%. If the rating of the debentures is downgraded below the rating at issuance by any rating agency, the coupon rate will be increased by 0.50% for each notch of downgrade. If the rating is upgraded, the coupon rate will be decreased by 0.50% for each notch of upgrade until it is restored. If the rating of the issuer is downgraded below BBB+ by any rating agency, the coupon rate will be increased by 0.50% for each notch of downgrade. If the rating is upgraded, the coupon rate will be decreased by 0.50% for each notch of upgrade until it is restored.