News by subject: Bond/Stock Rating

KBRA assigns preliminary ratings to six classes of mortgage pass-through notes from Verus Securitization Trust 2023-7 (VERUS 2023-7), a $669.2 million non-prime RMBS transaction. The underlying collateral, comprising 1,284 residential mortgages, is...

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" (Excellent) of Dorinco Reinsurance Company (Dorinco) (Midland, MI), which is the captive reinsurance company of The Dow Chemical Company...

Hercules Capital, Inc. ("Hercules" or the "Company"), the largest and leading specialty financing provider to innovative venture, growth and established stage companies backed by some of the leading and top-tier venture capital and select private...

On September 29, 2023, KBRA assigned a long-term rating of AA- with a Stable Outlook to the Power Authority of the State of New York (NYPA) Green Transmission Project Revenue Bonds, Series 2023A. Concurrently, KBRA affirmed the long-term rating of...

On September 29, 2023 KBRA upgraded the long-term rating to AAA, from AA+, for the State of Connecticut's Special Tax Obligation Bonds, Transportation Infrastructure Purposes. KBRA additionally assigned a long-term rating of AAA with a Stable Outlook...

Newmont Corporation today announced Fitch has assigned Newmont a first-time, long-term issuer default rating of A- with a stable outlook. Fitch also assigned a rating of A- to Newmont's senior unsecured debt. These ratings reflect Newmont's industry...

KBRA assigns preliminary ratings to five classes of notes issued from Mariner Finance Issuance Trust 2023-A (MFIT 2023-A), a personal loan asset-backed securities transaction. MFIT 2023-A will issue five classes of notes totaling $300 million. The...

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of "a-" (Excellent) to Hagerty Reinsurance Limited (Hagerty Re) (Hamilton, Bermuda). The outlook assigned to these Credit Ratings (ratings) is...

AM Best has assigned a Financial Strength Rating of B (Fair) and a Long-Term Issuer Credit Rating of "bb+" (Fair) to Tanzania Reinsurance Company Limited (TAN RE) (Tanzania). The outlook assigned to these Credit Ratings (ratings) is stable. The...

KBRA assigns a rating of BBB to the senior unsecured notes issued by BGC Group, Inc. , a diversified holding company and market leader specializing in global wholesale brokerage, complemented with a growing financial technology platform that offers...

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 Dover Bay Specialty Insurance Company (Dover Bay)...

AM Best has removed from under review with positive implications and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "a-" (Excellent) of ClearPath Insurance Company (ClearPath)...

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" (Excellent) of Union Medical Benefits Society Limited (UniMed) (New Zealand). The outlook of these Credit Ratings (ratings) is stable....

AM Best has affirmed the Financial Strength Ratings (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a+" (Excellent) of Ascot Bermuda Limited (Ascot Bermuda) (Bermuda), as well as certain members of the Ascot...

AM Best has upgraded the Long-Term Issuer Credit Ratings (Long-Term ICR) to "a+" (Excellent) from "a" (Excellent) and affirmed the Financial Strength Rating of A (Excellent) of Zenith Insurance Company and ZNAT Insurance Company, which are members of...

AM Best has assigned Financial Strength Ratings of A (Excellent) and Long-Term Issuer Credit Ratings of "a+" (Excellent) to Athene Co-Invest Reinsurance Affiliate 2A Ltd. and Athene Co-Invest Reinsurance Affiliate 2B Ltd. both domiciled in Bermuda....

AM Best has maintained the under review with negative implications status for the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Ratings of "bbb+" (Good) of Topa Insurance Company (Calabasas, CA) and its subsidiary,...

AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" (Good) of Compagnie Centrale de Réassurance (CCR) (Algeria). The outlook of these Credit Ratings (ratings) is stable. The ratings...

KBRA assigns preliminary ratings to three classes of notes (four tranches) issued by Lendbuzz Securitization Trust 2023-3 ("LBZZ 2023-3"), an auto loan ABS transaction. Credit enhancement on the notes is comprised of overcollateralization,...

AM Best has assigned a Financial Strength Rating of B++ (Good), a Long-Term Issuer Credit Rating of "bbb+" (Good), and the India National Scale Rating (NSR) of aaa.IN (Exceptional) to ECGC Ltd. (ECGC) (India). The outlook assigned to these Credit...

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" (Excellent) of Cathay Century Insurance Company Limited (Cathay Century) (Taiwan). The outlook of these Credit Ratings (ratings) is...

KBRA assigns preliminary ratings to 7 classes of mortgage-backed notes from J.P. Morgan Mortgage Trust 2023-HE2 (JPMMT 2023-HE2), a $281.4 million RMBS transaction sponsored by J.P. Morgan Mortgage Acquisition Corp. (J.P. Morgan). The transaction...

KBRA announces the assignment of preliminary ratings to six classes of BPR 2023-BRK2, a CMBS single-borrower securitization. The collateral for the transaction is a $700.0 million non-recourse, first lien mortgage loan that is expected to be...

KBRA is pleased to announce the assignment of preliminary ratings to eight classes of A10 BAF 2023-E, a $364.0 million CRE CLO with limited loan acquisition ability. Initially, the transaction is expected to be collateralized by 20 collateral...

KBRA assigns preliminary ratings to six classes of mortgage-backed notes from New Residential Mortgage Loan Trust 2023-NQM1 (NRMLT 2023-NQM1), a $669.9 million non-prime RMBS transaction sponsored by Rithm Capital Corp. (formerly New Residential...

AM Best has assigned a Preliminary Credit Assessment (PCA) to Olé Insurance Group Corp I.I. (Olé Insurance) (San Juan, Puerto Rico) with a Financial Strength Assessment of B++ pca (Good) and a Long-Term Issuer Credit Assessment of "bbb" pca (Good)....

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 Stewart Title Guaranty de México, S.A. de C.V. (STGM)...

AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a-" (Excellent) for the member companies of Stewart Title Group (Stewart). AM Best also has affirmed the Long-Term...

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 Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF) (Japan) and its U.S. subsidiaries. The...

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 Jet Insurance Company (Jet) (Charlotte, NC). The Credit Ratings (ratings)...

KBRA releases research examining August 2023 retail sales. This month's report discusses the shortfall in retail sales growth relative to inflation over the last year, a recent uptick in inflation due to rising gas prices, and the Federal Reserve's...

On September 21, 2023, KBRA assigned an A+ rating with a Stable Outlook to the Allegheny County Airport Authority's ("ACAA's") Airport Revenue Bonds, Series 2023A (AMT), Series 2023B (Non-AMT) and Series 2023C (Federally Taxable). Concurrently, KBRA...

On September 22, 2023, KBRA assigned a long-term rating of AA+ with a Stable Outlook to The City of New York's General Obligation Bonds, Fiscal 2024 Series B, consisting of Taxable Social Bonds, Subseries B-1 and Taxable Bonds, Subseries B-2....

Given the strong recovery in Mexico's insurance industry amid expected GDP growth in 2023, AM Best has revised its outlook on the country's insurance segment to stable from negative. The Best's Market Segment Report, "Market Segment Outlook: Mexico...

KBRA assigns a long-term rating of AA+ with a Stable Outlook to The City of New York's General Obligation Bonds Fiscal 2024 Series B - Taxable Social Bonds, Subseries B-1 and Taxable Bonds, Subseries B-2. Concurrently, KBRA affirms the AA+ rating and...

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

S&P Global Ratings assigned a BB- international rating to Nu Financeira and Nu Holdings. The main drivers for the decision were the growth prospects supported by an expanding customer base (85 million customers in Latin America as of July 2023), the...

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of "a" (Excellent) of the operating subsidiaries of Essent Group Ltd., which are Essent Guaranty, Inc., Essent Guaranty of PA, Inc. (both...

AM Best has placed under review with negative implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "bbb" (Good) of RF&G Insurance Company Limited (RF&G) (Belize). The ratings of RF&G...

AM Best has downgraded the Financial Strength Rating to C (Weak) from C++ (Marginal) and the Long-Term Issuer Credit Rating to "ccc" (Weak) from "b+" (Marginal) of Insurance House P.S.C. (IH) (United Arab Emirates). Concurrently, AM Best has...

AM Best has assigned a Performance Assessment of PA-2 (Excellent) to Excess Reinsurance Underwriters Inc. (Excess Re) (Woodbury, NJ). The outlook assigned to the Performance Assessment (assessment) is stable. The assessment reflects Excess Re's...

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb" (Good) of National Reinsurance Corporation of the Philippines (Nat Re) (Philippines). Additionally, AM Best has assigned the Philippines...

AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR of "a+" (Excellent) of Shelter Mutual Insurance...

AM Best has downgraded the Financial Strength Rating to B (Fair) from B+ (Good) and the Long-Term Issuer Credit Rating to "bb+" (Fair) from "bbb-" (Good) of Associated Mutual Insurance Cooperative (Associated Mutual) (Woodridge, NY). The outlook of...

AM Best has affirmed the Financial Strength Rating of A+ (Superior), the Long-Term Issuer Credit Rating of "aa-" (Superior) and the Mexico National Scale Rating of "aaa.MX" (Exceptional) of Sompo Seguros Mexico, S.A. de C.V. (Sompo Mexico) (Mexico...

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 Samsung Fire & Marine Insurance Co., Ltd. (SFM) (South Korea) and its subsidiaries, Samsung Fire...

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 Sompo Japan Insurance Inc. (SJ) (Japan) and its subsidiaries. The outlook of these Credit Ratings...

AM Best has revised the under review status to developing implications from negative implications and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a-" (Excellent) of the...

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 Seguros Suramericana S.A. (Sura) (Panama). These Credit Ratings...

On September 20, 2023, KBRA assigned a long-term rating of AA- to the Metropolitan Pier and Exposition Authority (Illinois) McCormick Place Expansion Project Refunding Bonds, Series 2023A and McCormick Place Expansion Project Refunding Bonds, Series...