News by subject: Bond/Stock Rating

KBRA assigns preliminary ratings to 42 classes of mortgage pass-through certificates from Morgan Stanley Residential Mortgage Loan Trust 2024-2 (MSRM 2024-2). MSRM 2024-2 comprises 363 residential mortgages with an aggregate principal balance of...

The April edition of Best's Review includes the following exclusive rankings: Largest Asia-Pacific Insurers ? 2024 Edition The previous month's edition included the following rankings: Top 20 P/C Managing General Agents ? 2024 Edition...

AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of "bb" (Fair) of Universal Insurance Company (Guernsey) Limited (UIC) (Guernsey). The outlook of these Credit Ratings (ratings) is negative. The...

KBRA assigns preliminary ratings to seven classes of notes issued by Pagaya AI Debt Grantor Trust 2024-S1 and Pagaya AI Debt Trust 2024-S1 (collectively "PAID 2024-S1"), a consumer loan ABS transaction. PAID 2024-S1 has initial credit enhancement...

KBRA assigns preliminary ratings to four classes of notes issued by OneMain Financial Issuance Trust 2024-1 ("OMFIT 2024-1"), a consumer loan asset-backed securities transaction. OMFIT 2024-1 will issue four classes of notes totaling $750 million....

KBRA publishes and affirms the issuer and senior unsecured debt ratings of AA- for TPG Operating Group II, L.P. (TOG II), a subsidiary of TPG Inc. . In addition, KBRA assigns a subordinated debt rating of A+. The Outlook for the ratings is Stable. On...

KBRA assigns preliminary ratings to 3 classes of mortgage-backed notes from ACHM Trust 2024-HE1 (ACHM 2024-HE1), a $170.1 million RMBS transaction sponsored by Lendage, LLC, d/b/a Achieve Home Loans (AHL or Achieve Home Loans). The transaction...

KBRA is pleased to announce the assignment of preliminary ratings to 14 classes of BMO 2024-5C4, a $862.9 million CMBS conduit transaction collateralized by 39 commercial mortgage loans secured by 71 properties. The collateral properties are...

AM Best has placed under review with developing implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a" (Excellent) of the members of GeoVera Insurance Group (GeoVera)...

A week after its governing board adopted a financially responsible two-year budget, the Metropolitan Water District of Southern California has once again earned excellent credit ratings from two of the nation's top rating agencies. In advance of...

KBRA assigns preliminary ratings to five classes of notes issued by American Credit Acceptance Receivables Trust 2024-2 ("ACAR 2024-2"), an ABS collateralized by a pool of auto loans. ACAR 2024-2 will issue five classes of notes totaling $442.04...

Janus International Group, Inc. ("Janus"), a leading provider of access control technologies and building product solutions for the self-storage, commercial, and industrial sectors, today announced it has received an upgrade to its credit rating by...

KBRA assigns a preliminary rating to one class of notes from Cogent IPv4 LLC, Series 2024-1 (Cogent 2024-1). Transaction collateral primarily includes Internet Protocol Version 4 (IPv4) addresses and related contracts and receivables. The Series...

AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of "a-" (Excellent) of the operating entities of Trisura Group Ltd. (Trisura) [TSX:TSU]...

AM Best has downgraded the Financial Strength Rating to C+ (Marginal) from C++ (Marginal) and the Long-Term Issuer Credit Ratings to "b-" (Marginal) from "b" (Marginal) of Columbian Mutual Life Insurance Company (Columbian) (Binghamton, NY) and...

RenovoRx, Inc. ("RenovoRx" or the "Company") , a clinical-stage biopharmaceutical company developing novel precision oncology therapies based on a local drug-delivery platform, today announced that, in light of its recent successful fundraising...

AM Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to "bbb+" (Good) from "a-" (Excellent) of Rockingham Insurance Company and its pooled affiliates:...

AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of "bbb" (Good) of Trans World Assurance Company (TWA)...

KBRA assigns ratings preliminary to seven classes of mortgage-backed notes from OBX 2024-NQM6 Trust, a $441.4 million non-prime RMBS transaction. The underlying collateral, comprising 843 residential mortgages, is characterized by a notable...

AM Best has placed under review with negative implications the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of "bb" (Fair) of Custodian and Allied Insurance Limited (CAIL) (Nigeria). CAIL is the non-life insurance...

AM Best has assigned a Financial Strength Rating of B (Fair) and a Long-Term Issuer Credit Rating of "bb+" (Fair) and a Mexico National Scale Rating (NSR) of "a+.MX" (Excellent) to Momento Seguros, S.A de C.V. (Momento) (Mexico). The outlook assigned...

KBRA assigns a long-term rating of AAA to the Metropolitan Atlanta Rapid Transit Authority Sales Tax Revenue Bonds, Series 2024A (Green Bonds) and Sales Tax Revenue Bonds, Refunding Series 2024B (Green Bonds). KBRA additionally affirms the long-term...

KBRA assigns preliminary ratings to 16 classes of mortgage-backed notes from RCKT Mortgage Trust 2024-CES3 (RCKT 2024-CES3), a $447.6 million RMBS transaction, as of the cut-off date, sponsored by Woodward Capital Management LLC, a wholly owned...

Moving past the COVID-19 era economic fallout has given rise to indications of worsening reserve risk as insurers report financial results for fourth quarter and full-year 2023, according to a new AM Best report. A new Best's Special Report states...

KBRA assigns a long-term rating of AAA to the Los Angeles Unified School District (County of Los Angeles, CA) 2024 General Obligation Refunding Bonds, Series A (Dedicated Unlimited Ad Valorem Property Tax Bonds). Concurrently, KBRA affirms the AAA...

KBRA announces the assignment of preliminary ratings to five classes of SDR 2024-DSNY, a CMBS single-borrower securitization. The collateral for the transaction is a $735.0 million non-recourse, first lien mortgage loan comprised of two loans that...

KBRA is pleased to announce the assignment of preliminary ratings to 31 classes of BANK5 Trust 2024-5YR6, a $984.3 million CMBS conduit transaction collateralized by 46 commercial mortgage loans secured by 54 properties. The collateral properties...

KBRA assigns a long-term rating of AAA to the San Diego Unified School District (San Diego County, California): 2024 General Obligation Refunding Bonds (Dedicated Unlimited Ad Valorem Property Tax Bonds) (Election of 1998, Series R-7A); 2024 General...

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb" (Good) of Halyk-Life, Life Insurance Subsidiary Company of the Halyk Bank of Kazakhstan, JSC (Halyk-Life) (Kazakhstan). The outlook of...

AM Best has released annual financial data for insurers filing under the IFRS 17 reporting standard. The data is available for Best's Financial Suite ? Global and Best's Insurance Reports® ? Life/Non Life, Non U.S. subscribers via BestLink® and...

AM Best has placed under review with developing implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of SafePort Insurance Company (SafePort) (Sarasota, FL). The Credit Ratings...

AM Best has placed under review with positive implications the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of "a-" (Excellent) of ShelterPoint Insurance Company (SPI) (West Palm Beach,...

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of "a" (Excellent) of Auto Club Insurance Association (ACIA)...

AM Best has affirmed the Financial Strength Rating of A- (Excellent), the Long-Term Issuer Credit Rating of "a-" (Excellent) and the Mexico National Scale Rating (NSR) of "aaa.MX" (Exceptional) of Seguros El Potosí, S.A. (El Potosí) (San Luis Potosi,...

AM Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to "bbb+" (Good) from "a-" (Excellent) of Brotherhood Mutual Insurance Company (Brotherhood) (Fort...

Park-Ohio Holdings Corp announced today that S&P Global ("S&P") has upgraded the ratings of Park-Ohio Industries, Inc. ("ParkOhio"), including the issuer credit rating to B from B-, and the issue-level rating on the Company's $350 million senior...

KBRA assigns preliminary ratings to three classes of notes (four tranches) issued by Lendbuzz Securitization Trust 2024-2 ("LBZZ 2024-2"), an auto loan ABS transaction. Credit enhancement on the notes is comprised of overcollateralization,...

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a+" (Excellent) of ARAG Insurance Company (ARAG) (Des Moines, IA). These Credit Ratings...

AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of "bbb" (Good) of Life Insurance Company of Alabama...

AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" (Good) of Tugu Insurance Company Limited (TIC) (Hong Kong). The outlook of these Credit Ratings (ratings) is stable. The ratings...

AM Best has commented that the Credit Ratings (ratings) and the associated debt of Protective Life Corporation (Protective Life) (Birmingham, AL), a U.S. subsidiary of Dai-ichi Life Holdings, Inc. (Dai-ichi; TSE:8750), and its primary life insurance...

Earthquake-related claims for Taiwan's commercial insurers related to this month's seismic event are unlikely to exceed those stemming from the 2016 Meinkong earthquake, given the more recent event's greater distance from the economic centers and...

KBRA assigns preliminary ratings to 40 classes of mortgage pass-through certificates from Morgan Stanley Residential Mortgage Loan Trust 2024-INV2 (MSRM 2024-INV2). The transaction consists of 899 residential mortgages with an aggregate principal...

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb" (Good) of Momentum Life Limited (Momentum Life) (New Zealand). The outlook of these Credit Ratings (ratings) is stable. The ratings...

KBRA assigns preliminary ratings to six classes of mortgage pass-through notes from Verus Securitization Trust 2024-3 (VERUS 2024-3), a $688.9 million non-prime RMBS transaction. The underlying collateral, comprising 1,346 residential mortgages, is...

KBRA publishes its Issuer rating of BBB+ for Western Alliance Trust Company, N.A. ("WATC" or "the company"), an OCC-chartered, non-depository national trust bank that is a wholly-owned subsidiary of Western Alliance Bancorporation , for which KBRA...

KBRA assigns preliminary ratings to three classes of notes totaling $252.86 million issued by EnFin Residential Solar Receivables Trust 2024-1 ("EnFin 2024-1" or the "Issuer"), an ABS transaction secured by residential solar loans. Headquartered in...

KBRA assigns preliminary ratings to 18 classes of Velocity Commercial Capital 2024-2 (VCC 2024-2) mortgage-backed certificates. VCC 2024-2 is a $295.1 million securitization collateralized by 705 small balance commercial loans secured by 778...

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" (Excellent) of CMB Wing Lung Insurance Company Limited (CMBWLI) (Hong Kong). The outlook of these Credit Ratings (ratings) is stable....

AM Best has upgraded the Financial Strength Rating to B++ (Good) from B+ (Good) and the Long-Term Issuer Credit Rating to "bbb" (Good) from "bbb-" (Good) of Acerta Compañia de Seguros, S.A. (Acerta) (Panama City, Panama). The outlook of these Credit...