This is a disclosure from Disneys recent 10 K Level 3 borrowings include the Asia Theme Park borrowings, which are valued based on the current borrowing cost and credit risk of the Asia Theme Parks as well as prevailing market interest rates Why would these be assigned as Level 3 (instead of Level ...

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This is a disclosure from Disneys recent 10-K: Level 3 borrowings include the Asia Theme Park borrowings,

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This is a disclosure from Disney’s recent 10-K: “Level 3 borrowings include the Asia Theme Park borrowings, which are valued based on the current borrowing cost and credit risk of the Asia Theme Parks as well as prevailing market interest rates”. Why would these be assigned as Level 3 (instead of Level 1 or Level 2) in the footnote disclosure?