News by subject: Bond/Stock Rating

AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IRs) of "aaa" (Exceptional) on the $74,646,000 Class A-1 8.00% Fixed Rate Asset Backed Notes, Series 2008-3 and the $9,389,000 Class A-2 8.00% Fixed Rate Asset Backed Notes, Series...

AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of "bbb" (Good) to Olé Insurance Group Corp I.I. (Olé Insurance) (San Juan, Puerto Rico). The outlook assigned to these Credit Ratings (ratings) is...

KBRA is pleased to announce the assignment of preliminary ratings to four classes of FREMF Series 2023-K753 mortgage pass-through certificates and three classes of Freddie-Mac structured pass-through certificates (SPCs), Series K-753. FREMF 2023-K753...

KBRA assigns preliminary ratings to eight classes of notes issued by Pagaya AI Debt Trust 2023-7 ("PAID 2023-7"), a consumer loan ABS transaction. PAID 2023-7 has initial credit enhancement levels of 66.85% for the Class A notes to 7.90% for the...

KBRA assigns preliminary ratings to 36 classes of mortgage pass-through notes from OBX 2023-J2 Trust, a $304.2 million prime RMBS transaction. The underlying collateral, comprising 399 fixed-rate, fully amortizing loans is characterized by meaningful...

AM Best has affirmed the Financial Strength Rating of A (Excellent), the Long-Term Issuer Credit Rating (Long-Term ICR) of "a" (Excellent) and the Mexico National Scale Rating of "aaa.MX" (Exceptional) of Reaseguradora Patria, S.A. (Patria Re)...

AM Best has removed from under review with negative implications and downgraded the Financial Strength Rating to B- (Fair) from B (Fair) and the Long-Term Issuer Credit Rating to "bb-" (Fair) from "bb" (Fair) of Southern General Insurance Company...

AM Best has affirmed the Financial Strength Rating (FSR of A+ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR of "aa-" (Superior) of Atlantic Casualty Insurance Company (Atlantic Casualty) (Goldsboro, NC). AM Best also has affirmed...

AM Best has affirmed the Long-Term Issuer Credit Rating (Long-Term ICR) of "bbb+" (Good) and the Long-Term Issue Credit Ratings (Long-Term IRs) of Markel Group Inc. (Markel) (Glen Allen, VA). AM Best also has affirmed the Financial Strength Rating...

KBRA assigns preliminary ratings to eight classes of mortgage pass-through certificates from CROSS 2023-H2 Mortgage Trust, a RMBS transaction issued under the Hildene-CCC Loan Acquisition, LLC (CROSS) shelf, where Hildene Capital Management (Hildene)...

AM Best has placed under review with negative implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "a+" (Excellent) of Electric Insurance Company (EIC) (Beverly, MA). The Credit...

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 both subsidiaries of Investors Title Company (ITC) [NASDAQ: ITIC]: Investors Title Insurance Company and...

KBRA, a global full-service credit rating agency, is pleased to announce it was named winner in the Best Ratings Provider category at the Hedgeweek and Private Equity Wire European Credit Awards 2023 ceremony held on October 26th in London. The...

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Ørsted Insurance A/S (ORIAS) (Denmark). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect...

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a+" (Excellent) of MS First Capital Insurance Limited (MSFC) (Singapore). The outlook of these Credit Ratings (ratings) is stable. The...

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Bank of China Group Insurance Company Limited (BOCG Insurance) (Hong Kong). The outlook of these Credit Ratings...

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 Inbursa, S.A. Grupo Financiero Inbursa...

KBRA assigns preliminary ratings to four classes of notes issued by American Credit Acceptance Receivables Trust 2023-4 ("ACAR 2023-4"), a $356.31 million auto loan ABS transaction with KBRA rating the Class A, Class B, Class C, and Class D notes...

KBRA assigns a long-term rating of BBB- with a Stable outlook to Revenue Bonds, Series 2023 (Westchester Medical Center Obligated Group Project) issued by the Westchester County Local Development Corporation, NY on behalf of Westchester County Health...

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B- (Fair) and the Long-Term Issuer Credit Rating of "bb-" (Fair) of Tower Bonding & Surety Company (Tower Bonding) (San Juan, PR). These Credit...

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Seguros Reservas S.A. (Seguros Reservas) (Santo Domingo, Dominican Republic). The outlook of these Credit Ratings...

AM Best will host a market briefing on the state of the U.S. property/casualty insurance industry in conjunction with the American Property Casualty Insurers Association's (APCIA) Annual Meeting, on Monday, Nov. 6, 2023, at 2 p.m. (EST) at the...

KBRA assigns preliminary ratings to 24 classes of mortgage pass-through certificates from Morgan Stanley Residential Mortgage Loan Trust 2023-3 (MSRM 2023-3). MSRM 2023-3 comprises 326 residential mortgages with an aggregate principal balance of...

KBRA assigns preliminary ratings to three classes of notes issued by Service Experts Issuer 2023-1 ("SE 2023-1"), a $299.151 million consumer lease ABS transaction. The preliminary ratings reflect initial credit enhancement level of 22.30% for the...

AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of "aa-" (Superior) of Central States Indemnity Co. of Omaha (CSI), and its subsidiary, CSI Life Insurance Company (CSI Life). The outlook of...

KBRA Europe (KBRA) releases a report and assigns a BBB+ preliminary rating on Olympique Lyonnais' (OL or the Club) Groupama Stadium financing. The project financing plan consists of a single tranche of fixed rate, fully amortising senior notes with...

KBRA assigns a long-term rating of BBB with a Stable Outlook to the Board of Education of the City of Chicago's Unlimited Tax General Obligation Bonds (Dedicated Revenues), Series 2023A . Concurrently, KBRA affirms the long-term ratings on the...

KBRA assigns preliminary ratings to two classes of notes issued by Upstart Securitization Trust 2023-3 ("UPST 2023-3"), a $194.74 million consumer loan ABS. UPST 2023-3 will have an expected collateral balance of approximately $263.159 million and...

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Everen Specialty Ltd. (Everen Specialty) and its affiliate, OCIL...

AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" (Good) of Arabia Insurance Company s.a.l. (AIC) (Lebanon). These Credit Ratings...

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb+" (Good) of The New India Assurance Company Limited (New India) (India). Additionally, AM Best has assigned the India National Scale...

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" (Excellent) of Luen Fung Hang Insurance Company Limited (LFH) (Macau). The outlook of these Credit Ratings (ratings) is stable. The...

KBRA releases research that provides an overview of the railcar sector, prospects for future issuance, and KBRA rating performance. Primary market volumes for railcar asset-backed securities (ABS) peaked in 2021, but volumes have fallen...

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb" (Good) of BIDV Insurance Corporation (BIC) (Vietnam). Additionally, AM Best has assigned the Vietnam National Scale Rating (NSR) of...

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb" (Good) of Hyundai Insurance (China) Co., Ltd. (HIC) (China). The outlook of these Credit Ratings (ratings) is stable. The ratings...

AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of "aa-" (Superior) of Construction Guarantee Cooperative (CG) (South Korea). The outlook of these Credit Ratings (ratings) is stable. The...

AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of "bbb+" (Good) to Aseguradora Agricola Comercial, S.A. (ACSA) (El Salvador). The outlook assigned to these Credit Ratings (ratings) is stable. The...

AM Best has downgraded the Financial Strength Rating to B (Fair) from B+ (Good) and the Long-Term Issuer Credit Ratings to "bb" (Fair) from "bbb-" (Good) of Civil Service Employees Insurance Company and CSE Safeguard Insurance Company, which together...

AM Best has withdrawn the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a-" (Excellent) of Kentucky Funeral Directors Life Insurance Company (KFDLIC) (Frankfort, KY). At the time of the...

KBRA assigns preliminary ratings to 6 classes of mortgage-backed certificates from Morgan Stanley Residential Mortgage Loan Trust 2023-NQM1 (MSRM 2023-NQM1), a $342.0 million non-prime RMBS transaction. The underlying collateral, comprising 864...

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 MAPFRE S.A.'s (MAPFRE) rated operating subsidiaries. The outlook of these Credit Ratings (ratings) is...

KBRA assigns deposit and senior unsecured debt ratings of BBB, a subordinated debt rating of BBB-, and short-term deposit and debt ratings of K3 to Chubbuck, Idaho-based Idaho Central Credit Union ("Idaho Central" or "ICCU" or "the credit union")....

KBRA assigns preliminary ratings to three classes of notes issued by Harvest SBA Loan Trust 2023-1. Harvest Small Business Finance, LLC was formed as a California limited liability company in 2015 and originates, owns, sells, and services small...

AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of C (Weak) and the Long-Term Issuer Credit Rating of "ccc" (Weak) of Milli Reasurans Turk Anonim Sirketi (Milli Re) (Türkiye). The Credit Ratings...

KBRA assigns preliminary ratings to four classes of notes issued by Thoma Bravo Credit Asset Funding ABS, LLC ("TBCAF 2023-1"), a securitization backed by a portfolio of recurring revenue and middle market corporate loans. TBCAF 2023-1 is a $500.0...

KBRA assigns preliminary ratings to four classes of notes issued by FHF Trust 2023-2 ("FHF 2023-2"), a subprime auto loan asset-backed securities transaction. FHF 2023-2 will issue four classes (five tranches) of notes totaling $240,007,000. Credit...

KBRA is pleased to announce the assignment of preliminary ratings to four classes of FREMF Series 2023-K160 mortgage pass-through certificates and three classes of Freddie-Mac structured pass-through certificates (SPCs), Series K-160. FREMF 2023-K160...

KBRA UK (KBRA) is pleased to announce the assignment of preliminary ratings to three classes of Stark Financing 2023-1 UK, CMBS single-borrower transaction. The collateral for the transaction is a £339.5 million limited recourse, first lien...

KBRA assigns preliminary ratings to two classes of notes issued by Marlette Funding Trust 2023-4 ("MFT 2023-4"), a $402.134 million consumer loan ABS transaction. The ratings reflect initial credit enhancement levels of 27.18% for the Class A Notes...

KBRA assigns preliminary ratings to 18 classes of mortgage pass-through certificates from J.P. Morgan Mortgage Trust 2023-9 (JPMMT 2023-9). The pool comprises 479 first-lien, fixed rate residential mortgage loans with an aggregate principal balance...