News by subject: Bond/Stock Rating

KBRA affirms the ?AAA' rating to the outstanding Senior Notes and affirms the ?A+' ratings to the outstanding Mandatory Redeemable Preferred Shares issued by Kayne Anderson Energy Infrastructure Fund, Inc. ("KYN" or the "Fund"). Concurrently, KBRA...

KBRA is pleased to announce the assignment of preliminary ratings to 15 classes of BBCMS 2023-5C23, a $721.3 million CMBS conduit transaction collateralized by 31 commercial mortgage loans secured by 33 properties. The collateral properties are...

KBRA assigns preliminary ratings to 24 classes of mortgage pass-through certificates from Morgan Stanley Residential Mortgage Loan Trust 2023-4 (MSRM 2023-4). MSRM 2023-4 comprises 359 residential mortgages with an aggregate principal balance of...

KBRA assigns preliminary ratings to six classes of mortgage pass-through notes from ADMT 2023-NQM5 Trust, a $417.4 million non-prime RMBS transaction. The underlying collateral, comprising 999 residential mortgages, is characterized by a significant...

KBRA assigns preliminary ratings to five classes of notes issued by Dext ABS 2023-2, LLC (Dext 2023-2) an equipment ABS transaction. Dext 2023-2 represents the fourth equipment ABS transaction to be sponsored by Dext Capital, LLC (Dext or the...

Insurers' hedge fund holdings shrank by 9.9% last year to $11.8 billion, reversing a two-year growth trend in this area, according to a new AM Best report. In its Best's Special Report, titled, "Book Value of Insurers' Hedge Fund Investments...

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb+" (Good) of Peace Hills General Insurance Company (Peace Hills) (Alberta, Canada). The...

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a+" (Excellent) of Chubb Perú S.A. Compañía de Seguros y Reaseguros (Chubb Peru) (Lima, Peru). The outlook of these Credit Ratings...

KBRA assigns preliminary ratings to 12 classes of mortgage-backed notes from RCKT Mortgage Trust 2023-CES3 (RCKT 2023-CES3), a $370.7 million RMBS transaction, as of the cut-off date, co-sponsored by Woodward Capital Management LLC and Blue River...

KBRA assigns its BBB- preliminary rating to JFK NTO LLC's proposed $1.5 billion special facilities revenue bonds (series 2023 bonds) for Phase A of the Terminal One redevelopment project, also called New Terminal One (NTO), at New York's John F....

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of IRB-Brasil Resseguros S.A. (IRB) (Rio de Janeiro, Brazil). The outlook of these Credit Ratings (ratings) is negative....

AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb" (Good) of Mercantil Seguros y Reaseguros, S.A. (Mercantil Seguros) (domiciled in...

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "aa-" (Superior) of the pooled members of Selective Insurance Group (Selective). Additionally, AM Best has affirmed...

AM Best has assigned a Long-Term Issue Credit Rating of "a-" (Excellent) to the recently announced $600 million, 5.7% 5-year senior unsecured notes, due Dec. 15, 2028, issued by Ameriprise Financial, Inc. (Ameriprise Financial) (headquartered in...

AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of "bb+" (Fair) of Compagnie Algérienne des Assurances (CAAT) (Algeria). The outlook of these Credit Ratings (ratings) is stable. The ratings...

KBRA assigns preliminary ratings to two classes of notes from Five Guys Funding, LLC, Series 2023-1 (Five Guys 2023-1), a whole business securitization (WBS). In conjunction with the issuance of Series 2023-1, KBRA anticipates affirming the ratings...

First sentence of the release dated November 8, 2023 should read, "AM Best has downgraded the Financial Strength Rating to B (Fair)..." (instead of "AM Best has downgraded the Financial Strength Rating to B (Good)...") The updated release reads:...

KBRA assigns preliminary ratings to four classes of Tricon Residential 2023-SFR2 (TCN 2023-SFR2) single-family rental pass-through certificates. TCN 2023-SFR2 is a single-borrower, single-family rental (SFR) securitization that will be...

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of ZhongAn Online P & C Insurance Co., Ltd. (ZhongAn) (China). The outlook of these Credit Ratings (ratings) is stable....

AM Best is maintaining its stable outlook on Costa Rica's insurance industry, citing the segment's ongoing recovery in business volume, contained loss ratios in its non-life segment and improvement in the government's fiscal situation. The Best's...

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "bbb+" (Good) of Colina Insurance Limited (Colina). Concurrently, AM Best has affirmed the Long-Term ICR of "bb+" (Fair) of...

KBRA assigns preliminary ratings to one class of notes from Focus Brands Funding LLC, Series 2023-2 (Focus 2023-2), a whole business securitization (WBS). In conjunction with the issuance of Series 2023-2, KBRA anticipates affirming the ratings on...

AM Best has revised the outlooks to positive 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) for the members of IFG Companies (IFG)...

AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to "bbb" (Good) from "bbb+" (Good) and affirmed the Financial Strength Rating (FSR) of B++ (Good) of Kot Insurance Company AG (Kot) (Switzerland). The outlook of the Long-Term...

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 of "aaa.MX" (Exceptional) of Tokio Marine HCC Mexico Compañía Afianzadora, S.A. de C.V....

KBRA UK (KBRA) releases research on the refinance ability of commercial mortgage-backed securities (CMBS) loans originated since 2018 and maturing by year-end 2026, current hedging strategies, and loan extensions in the current rate environment....

KBRA assigns a long-term rating of A with a Stable Outlook to the New Jersey Transportation Trust Fund Authority (NJTTFA) Transportation Program Bonds, 2023 Series BB. KBRA additionally affirms the long-term rating of A+ with a Stable Outlook for...

KBRA assigns a long-term rating of AAA to the State of Ohio General Obligation Highway Capital Improvement Bonds, Series Y and affirms the long-term rating of AAA for parity General Obligation Highway Capital Improvement Bonds. The Outlook remains...

AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of "bbb" (Good) to the recently announced $500 million, 5.75 % senior unsecured notes, due 2028, and the $850 million, 5.95% senior unsecured notes, due 2034, issued by Humana Inc....

AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" (Good) of Seguros Universales, S.A. (Universales) (Guatemala). The outlook of these Credit Ratings (ratings) is stable. The ratings...

AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to "a" (Excellent) from "a+" (Excellent) and affirmed the Financial Strength Rating (FSR) of A (Excellent) of Employers Mutual Casualty Company (EMCC) (Des Moines, IA) and its...

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" (Excellent) of Nationale Borg Reinsurance N.V. (NB Re) (Willemstad, Curacao). The outlook of these Credit Ratings (ratings) is stable....

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a+" (Excellent) of Hiscox Insurance Company (Bermuda) Limited (HIB), Hiscox Insurance Company Limited (HICL) (United...

AM Best's latest special report on the long-term impairment rates of U.S.-domiciled insurance companies states that no insurers were added to the list of net impairments in 2022, meaning no companies were rated by AM Best at the time of impairment,...

Viewers can now access the top highlights from AM Best's "How Generative AI and ChatGPT are Reshaping the Insurance Industry" webinar, sponsored by Xceedance. In this video-based interactive presentation, viewers can learn how these new...

AM Best has affirmed the Financial Strength Rating of B- (Fair) and the Long-Term Issuer Credit Rating of "bb-" (Fair) of Suez Canal Insurance (SCI) (Egypt). Additionally, AM Best has assigned the Egypt National Scale Rating (NSR) of aa.EG (Superior)...

KBRA assigns preliminary ratings to four classes of notes (seven tranches) issued by LAD Auto Receivables Trust 2023-4 ("LADAR 2023-4"), an auto loan ABS transaction. LADAR 2023-4 represents the sixth overall ABS securitization for Driveway Finance...

KBRA assigns ratings to eight classes of notes issued by SCF Equipment Leasing 2023-1 LLC and SCF Equipment Leasing Canada 2023-1 Limited Partnership (collectively SCF 2023-1), an equipment ABS transaction. SCF 2023-1 represents the 11th equipment...

KBRA assigns preliminary ratings to 24 classes from Freddie Mac Structured Agency Credit Risk (STACR®) REMIC 2023-HQA3 Notes, Freddie Mac STACR REMIC Trust 2023-HQA3 (STACR 2023-HQA3), a credit risk sharing transaction with a total note offering of...

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" (Excellent) of KB Insurance Co., Ltd. (KBI) (South Korea). The outlook of these Credit Ratings (ratings) is stable. The ratings...

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Marble Reinsurance Corporation (Marble Re) (Micronesia). The outlook of these Credit Ratings (ratings) is stable. The...

AM Best has upgraded the Financial Strength Rating to A+ (Superior) from B++ (Good) and the Long-Term Issuer Credit Rating to "aa" (Superior) from "bbb+" (Good) of ERGO Insurance Pte. Ltd. (Singapore). The outlook of these Credit Ratings (ratings) is...

AM Best has placed under review with positive implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb" (Good) of American Surety Company (ASC) (Indianapolis, IN). The under review status follows the...

KBRA is pleased to announce the assignment of preliminary ratings to 12 classes of Benchmark 2023-V4, a $626.6 million CMBS conduit transaction collateralized by 28 commercial mortgage loans secured by 91 properties. The collateral properties are...

AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings to "a" (Excellent) from "a-" (Excellent) of Oceanview Life and Annuity Company (Oceanview Life) (headquartered in Phoenix,...

AM Best has affirmed the Long-Term Issuer Credit Rating (Long-Term ICR) of "a" (Excellent) of the non-operating holding company, Legal & General Group Plc (L&G) (United Kingdom). Concurrently, AM Best has affirmed the Financial Strength Rating of A+...

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 Brookfield Annuity Company (Toronto, Ontario, Canada). The Credit...

KBRA assigns preliminary ratings to one class of notes issued by AMCR ABS TRUST 2023-1 ("AMCR 2023-1"), a consumer loan ABS transaction AMCR 2023-1 has initial credit enhancement levels of 44.50% for the Class A notes, 24.50% for the Class B notes,...

KBRA assigns preliminary ratings to 55 classes of mortgage pass-through certificates from Sequoia Mortgage Trust 2023-5 (SEMT 2023-5), a $340.1 million prime RMBS transaction. The pool consists entirely of fully amortizing fixed rate mortgages with...

KBRA assigns preliminary ratings to four classes of notes issued by CP EF Asset Securitization II, LLC, Series 2023-1 (CPEF 2023-1), an equipment ABS transaction. CPEF 2023-1 represents Channel Partners Capital, LLC's (CPC or the Company) fifth ABS...