News by subject: Bond/Stock Rating

KBRA assigns a rating to one class of notes totaling $265.124 million issued by GoodLeap Sustainable Home Solutions Trust 2023-3 ("GOOD 2023-3"), an asset-backed securitization collateralized by a pool of consumer solar loans and home improvement...

KBRA assigns ratings to three classes of notes issued by Sunnova Helios XII Issuer, LLC Solar Loan Backed Notes, Series 2023-B ("Sunnova 2023-B"), a $242.7 million residential solar loan ABS transaction. The transaction is collateralized by...

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 Farmers Mutual Fire Insurance Company of Salem County (Salem, NJ)....

KBRA UK (KBRA) assigns preliminary ratings to Together Asset Backed Securitisation 2023-1ST2 PLC (TABS 9) a static non-conforming RMBS securitisation. The mortgages were originated between 2017 and 2023, by Together Commercial Finance Limited (50.7%...

KBRA announces the assignment of ratings to three classes of CENT 2023-CITY, a CMBS single-borrower securitization. The collateral for the transaction is a $925.0 million non-recourse, first lien mortgage loan originated by Morgan Stanley Mortgage...

AM Best has downgraded the Financial Strength Rating (FSR) to B (Fair) from B+ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to "bb+" (Fair) from "bbb-" (Good) of Discovery Insurance Company (Discovery) (Kinston, NC). AM Best has...

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 Guardian Life of the Caribbean Limited (GLOC) and Guardian General Insurance Limited (GGIL)....

On August 10, 2023, KBRA affirmed the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, the preferred shares rating of BB+, and the short-term debt rating of K3 for St. Louis Park, Minnesota-based Bridgewater Bancshares, Inc....

AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "aa-" (Superior) of Midland National Life Insurance Company (Midland National) and North American Company for Life and...

A new approach in determining rates for policies issued through the National Flood Insurance Program (NFIP), Risk Rating 2.0, appears to shifting more premium into the U.S. private flood insurance market, according to a new AM Best special report....

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb" (Good) of British Caribbean Insurance Company Limited (BCIC) (Jamaica). 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 Reaseguradora América SPC Ltd. (RAM Re) (Cayman Islands). The outlook of these Credit Ratings (ratings) is stable....

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 Massachusetts Mutual Life Insurance Company (MassMutual) (domiciled in Springfield, MA) and its...

On July 26, 2023, KBRA affirmed the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for Rancho Cordova, CA-based Five Star Bancorp ("the company"). In addition, KBRA affirmed the...

On August 11, 2023, KBRA affirmed the senior unsecured debt rating of BBB+, the subordinated debt rating of BBB, and the short-term debt rating of K2 for Tyler, Texas-based Southside Bancshares, Inc. ("the company"). KBRA also affirmed the deposit...

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 Ratings of "a-" (Excellent) of Great Midwest Insurance Company (GMIC), Houston Specialty Insurance...

AM Best has assigned a Preliminary Credit Assessment (PCA) to Indigo Risk Retention Group Inc. (Indigo RRG) (Charleston, SC) with a Financial Strength Assessment of A- pca (Excellent) and a Long-Term Issuer Credit Assessment of "a-" pca (Excellent)....

KBRA assigns preliminary ratings to two classes of notes issued by Monroe Capital Income Plus ABS Funding II, LLC ("MCIP II"), a securitization backed by a portfolio of recurring revenue and middle market corporate loans. MCIP II is a $251.15...

KBRA is pleased to announce the assignment of ratings to four classes of FREMF Series 2023-K752 mortgage pass-through certificates and three classes of Freddie-Mac structured pass-through certificates (SPCs), Series K-752. FREMF 2023-K752 is a $947.8...

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of StarStone Insurance Bermuda Limited (SIBL) (Bermuda) and StarStone Insurance SE (SISE) (Liechtenstein). The outlook of...

AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of "a-" (Excellent) of the property/casualty subsidiaries and affiliated insurance companies of Kemper Corporation...

KBRA announces the assignment of ratings to four classes of GSMS 2023-SHIP, a CMBS single-borrower securitization. The collateral for the transaction is a $1.035 billion non-recourse, first lien mortgage loan originated by Goldman Sachs Bank USA....

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Emirates Insurance Company P.J.S.C. (EIC) (United Arab Emirates). The outlook of these Credit Ratings (ratings) is...

KBRA assigns ratings to one class of mortgage-backed notes from FASST 2023-S3, a $460.2 million reverse mortgage transaction. 61.5% of the transaction comprises newly originated loans/participations which have not previously been securitized while...

KBRA assigns ratings to 34 classes of mortgage pass-through notes from GCAT 2023-INV1 Trust. The transaction is backed by primarily non-owner occupied properties and loans that were underwritten to agency guidelines. The pool comprises 952...

KBRA assigns ratings to seven classes of notes issued by LAD Auto Receivables Trust 2023-3 ("LADAR 2023-3"), an auto loan ABS transaction. LADAR 2023-3 represents the fifth overall ABS securitization for Driveway Finance Corporation ("DFC" or the...

KBRA assigns ratings to 55 classes of mortgage pass-through certificates from Sequoia Mortgage Trust 2023-3 (SEMT 2023-3), a $338.5 million prime RMBS transaction. The pool consists predominately of fully amortizing fixed rate mortgages with 30-year...

KBRA affirms Seaspan Corporation's (Seaspan, or the "Company") BB+ issuer rating and the BB+ rating on Seaspan's $750 million senior unsecured notes due August 2029 (the "unsecured Notes"). KBRA also affirms the BBB ratings of Seaspan's $250 million...

KBRA affirms the BB+ issuer rating of Atlas Corp. (Atlas, or the "Company"), a global asset management company based in Vancouver, BC, focused on assets in the maritime sector, energy sector and other infrastructure verticals. The rating Outlook is...

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Foundation Life (NZ) Limited (FLNZ) (New Zealand). The outlook of these Credit Ratings (ratings) is stable. The...

AM Best has placed under review with developing implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of "a-" (Excellent) of American Equity Investment Life Insurance Company and its...

KBRA assigns ratings to four classes of notes (five tranches) issued by OneMain Financial Issuance Trust 2023-2 ("OMFIT 2023-2"), a consumer loan asset-backed securities transaction. OMFIT 2023-2 issued four classes of notes (five tranches)...

On June 22, 2023, KBRA affirmed the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for Iowa City, Iowa-based MidWestOne Financial Group, Inc. ("MidWestOne" or "the company"). In...

AM Best has downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to "a-" (Excellent) from "a" (Excellent) of the property/casualty (P/C) subsidiaries of United...

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" (Excellent) of Toyota Motor Insurance Company (TMIC) (Cedar Rapids, IA). The outlook of these Credit Ratings (ratings) is stable. The...

KBRA UK (KBRA) releases a report that explores the expectations and confidence among European corporate managers in the current economic environment. Challenges to corporate managers including the rapid rise in inflation, supply issues, and increased...

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 DPL Insurance Limited (DPL) (New...

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 Rating of "a-" (Excellent) of Polskie Towarzystwo Reasekuracji S.A. (Polish Re) (Poland). The...

KBRA UK (KBRA) releases a report that explores the expectations and confidence among European corporate managers in the current economic environment. Challenges to corporate managers including the rapid rise in inflation, supply issues, and increased...

KBRA assigns ratings to five classes of notes (seven tranches) issued by Flagship Credit Auto Trust 2023-3 ("FCAT 2023-3"), an asset-backed securitization collateralized by a pool of auto loans. FCAT 2023-3 issued five classes of notes (seven...

Invitation Homes Inc. ("Invitation Homes" or the "Company"), announced today that Fitch Ratings ("Fitch") revised its rating outlook for the Company to ?Positive' from ?Stable' and affirmed the Company's ratings, including the ?BBB' Long-Term Issuer...

KBRA assigns preliminary ratings to 48 classes of mortgage pass-through notes from GS Mortgage-Backed Securities Trust 2023-PJ4 (GSMBS 2023-PJ4). The transaction is backed by primarily prime jumbo mortgages with an aggregate principal balance of...

AM Best has upgraded the Long-Term Issuer Credit Ratings (Long-Term ICRs) to "a+" (Excellent) from "a" (Excellent) and affirmed the Financial Strength Rating (FSR) of A (Excellent) of the members of Northbridge Financial Corporation (Northbridge),...

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) of BCBSM, Inc., d/b/a Blue Cross Blue Shield of Minnesota (BCBSMN), and its subsidiary, HMO...

AM Best has downgraded the Financial Strength Rating (FSR) to B- (Fair) from B (Fair) and the Long-Term Issuer Credit Rating (Long-Term ICR) to "bb-" (Fair) from "bb+" (Fair) of EFU General Insurance Limited (EFUG) (Pakistan). The outlook of the FSR...

On 8 August 2023, KBRA Europe (KBRA) upgraded the deposit and senior unsecured debt ratings to A+ from A and affirmed the short-term deposit and debt ratings of K1 for Barclays Bank PLC, a subsidiary of Barclays PLC (LON: BARC) ("Barclays"), an...

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb+" (Good) of Korea P&I Club (KP&I or the Club) (South Korea). The outlook of these Credit Ratings (ratings) is stable. The ratings...

In the last 90 days, Best's Review readers have been most interested in the following stories: "Top 20 Global Brokers ? 2023 Edition" ranks global brokers by 2022 total revenue and describes industry developments and company activity. "'World's...

On July 28, 2023, KBRA affirmed the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, the preferred stock rating of BB+, and the short-term debt rating of K3 for Englewood Cliffs, New Jersey-based ConnectOne Bancorp, Inc....

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) of Oxford Life Insurance Company (Oxford Life) (Phoenix, AZ), and its subsidiary, Christian Fidelity...