News by subject: Bond/Stock Rating

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...

AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "bbb+" (Good) of Florida Farm Bureau Casualty Insurance Company...

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

AM Best has affirmed the Financial Strength Rating of B++ (Good), the Long-Term Issuer Credit Rating of "bbb" (Good) and the Egypt National Scale Rating (NSR) of aaa.EG (Exceptional) of Misr Life Insurance Company (MLIC) (Egypt). The outlook of these...

KBRA assigns a preliminary rating to one class of notes issued by Sunrun Neptune Issuer 2024-1, LLC. The transaction is collateralized by a diversified pool of 27,094 leases and Power Purchase Agreements (PPAs) associated with residential solar...

The April issue of Best's Review reports on emerging risks and the growing interest in parametric insurance to tackle less-insurable risks: "Parametric Insurance Contracts May Apply to Tougher Risks" explores the value of parametric insurance in...

KBRA assigns preliminary ratings to four classes of notes (five tranches) issued by GLS Auto Select Receivables Trust 2024-2 ("GSAR 2024-2"), an auto loan ABS transaction. GSAR 2024-2 represents the fourth near prime term ABS securitization for...

KBRA assigns preliminary ratings to five classes of notes (seven tranches) issued by Flagship Credit Auto Trust 2024-1 ("FCAT 2024-1"), an asset-backed securitization collateralized by a pool of auto loans. FCAT 2024-1 will issue five classes of...

KBRA assigns preliminary ratings to three classes of notes issued by Business Jet Securities 2024-1, LLC (BJETS 2024-1 or the Issuer), a business jet ABS transaction. BJETS 2024-1 is the seventh business jet ABS transaction sponsored and serviced by...

On March 29, 2024, Fort Myers, Florida based FineMark Holdings, Inc. announced that it had completed the issuance of $30 million noncumulative perpetual convertible preferred stock, which bears an annual dividend rate of 7.25% and is convertible to...

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of "aa-" (Superior) of Vermont Mutual Insurance Company and its fully reinsured subsidiary,...

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of "a-" (Excellent) to Amherst Specialty Insurance Company (Amherst Specialty) (Addison, TX). The outlook assigned to these Credit Ratings...

KBRA is pleased to announce the assignment of preliminary ratings to four classes of FREMF Series 2024-K755 mortgage pass-through certificates and three classes of Freddie-Mac structured pass-through certificates (SPCs), Series K-755. FREMF 2024-K755...

KBRA assigns preliminary ratings to 55 classes of mortgage pass-through certificates from Sequoia Mortgage Trust 2024-4 (SEMT 2024-4), a $404.3 million prime RMBS transaction. The pool comprises 347 first-lien, fully amortizing fixed rate mortgages...

KBRA assigns a long-term rating of AAA to the State of Oregon Department of Administrative Services: Oregon State Lottery Revenue Bonds, 2024 Series A (Tax-Exempt Projects & Refunding); Oregon State Lottery Revenue Bonds, 2024 Series B (Federally...

KBRA announces the assignment of preliminary ratings to six classes of HTL 2024-T53, a CMBS single-borrower securitization. The collateral for the transaction is a $631.5 million fixed rate, interest-only mortgage loan. The loan has a three-year...

KBRA assigns a long-term rating of AA with a Positive Outlook to the Chicago Park District General Obligation Limited Tax Park Bonds Series 2024A; General Obligation Limited Tax Refunding Bonds, Series 2024B; and General Obligation Unlimited Tax...

AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of "a" (Excellent) of certain members of Curi Insurance...

AM Best has downgraded the Financial Strength Rating (FSR) to B (Fair) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to "bb+" (Fair) from "a" (Excellent) of State Farm General Insurance Company (State Farm General)...

KBRA releases its Business Development Company Ratings Compendium, which looks at results for the quarter ended December 31, 2023, and offers a review of perpetual continuously offered non-traded BDCs as well as recent industry developments. In this...

AM Best has placed under review with negative implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of "a-" (Excellent) of Pharmacists Mutual Insurance Company (PMIC) and its wholly owned reinsured...

KBRA assigns a rating of BBB to Blue Owl Technology Finance Corporation II's ("OTF II" or "the company") $700 million, 6.750% senior unsecured notes due 2029. The rating Outlook is Stable. The proceeds will be used for general corporate purpose,...

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" (Excellent) of NiSource Insurance Corporation, Inc. (NICI) (Salt Lake City, UT). The outlook of these Credit Ratings (ratings) is...

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Coalition Insurance Company (CIC) (New York, NY). The outlook of these Credit Ratings (ratings) is stable. The...

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of "a-" (Excellent) to Emerald Bay Specialty Insurance Company (EBSIC) (Tucson, AZ). The outlook assigned to these Credit Ratings (ratings) is...

KBRA Europe (KBRA) assigns preliminary ratings to six classes of notes issued by Kinbane 2024-RPL 1 DAC. The transaction is a static RMBS securitisation predominantly collateralised by reperforming mortgage loans. The provisional portfolio,...

AM Best has downgraded the Financial Strength Rating to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Ratings to "bbb+" (Good) from "a-" (Excellent) of GPM Health and Life Insurance Company and Government Personnel Mutual Life...

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 Hanoi Reinsurance Joint Stock...

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Nan Shan General Insurance Co., Ltd. (Nan Shan General) (Taiwan). The outlook of these Credit Ratings (ratings) is...

AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "aaa" (Exceptional) of National Indemnity Company (Omaha, NE) and its affiliates (collectively referred to as...

AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of ivari (Toronto, Ontario, Canada). The outlook assigned to...

AM Best has commented that the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "a-" (Excellent) of Lombard International Assurance S.A. (LIA) (Luxembourg), remain unchanged following the...

AM Best has removed from under review with positive implications and upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to "a-" (Excellent) from "bbb+" (Good) of Generali France S.A. (Generali France) (France), an intermediate non-operating...

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a+" (Excellent) of RBC Life Insurance Company (RBC Life) (Mississauga, Ontario). The outlook of these Credit Ratings (ratings) is stable....

AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of "aa" (Superior) of Principal Life Insurance Company and Principal National Life Insurance Company. Both are life insurance...

AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of "a-" (Excellent) to the $750 million 6.875% senior unsecured notes, due March 2034, issued by Sammons Financial Group, Inc. (SFG) (Delaware), an intermediate holding company...