News by subject: Bond/Stock Rating

KBRA assigns preliminary ratings to 35 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...

AM Best has upgraded the Financial Strength Rating (FSR) to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to "a" (Excellent) from "a-" (Excellent) of Madison National Life Insurance Company. Horace Mann...

KBRA assigns preliminary 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...

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb+" (Good) of Sigurd Rück AG (Sigurd) (Switzerland). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Sigurd's...

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "a-" (Excellent) of Illinois Casualty Company (ICC). Concurrently, AM Best affirmed the Long-Term ICR of "bbb-" (Good) of...

AM Best has revised the implications of the under review status to positive from negative for the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb" (Good) of Kelvin Re Limited (Kelvin Re) (Guernsey). The Credit...

KBRA releases an update to its February 2023 message from company CEO Jim Nadler, following recent market developments and a move by some credit rating agencies (CRA) away from environmental, social, and governance (ESG) scoring systems. In KBRA's...

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

AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to "aa-" (Superior) from "aa" (Superior) and affirmed the Financial Strength Rating (FSR) of A+ (Superior) of the members of Allstate Insurance Group (Allstate). The outlook of...

Kroll Bond Rating Agency (KBRA) has reaffirmed the senior unsecured debt rating of A- for WSFS Financial Corporation ("WSFS" or "the Company"). KBRA also reaffirmed WSFS' subordinated debt rating of BBB+ and a short-term debt rating of K2. WSFS...

AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of "bb" (Fair) of Fidelidade Moçambique - Companhia de Seguros, S.A. (Fid Moz) (Mozambique). The outlook of these Credit Ratings (ratings) is...

KBRA is pleased to announce the assignment of preliminary ratings to 18 classes of BMO 2023-C6, a $604.4 million CMBS conduit transaction collateralized by 32 commercial mortgage loans secured by 138 properties. The collateral properties are...

KBRA assigns preliminary ratings to a term bond issued by New York State Energy Research and Development Authority Residential Clean Energy and Energy Efficiency Financing Green Revenue Bonds, Series 2023A ("NYSERDA 2023A"), a consumer solar loan and...

On July 28, 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 Wichita, Kansas-based Fidelity Financial Corporation ("FFC", "Fidelity" or "the company"). 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 members of The Hartford Steam Boiler Group (HSB). The outlook of these Credit Ratings...

AM Best has maintained the under review with negative implications status for the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" (Excellent) of Fubon Insurance Co., Ltd. (Fubon Insurance) (Taiwan). The...

AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" (Good) of Dunav-Re a.d.o. (Dunav-Re) (Serbia). The outlook of these Credit Ratings (ratings) is positive. The ratings reflect...

AM Best has upgraded the Financial Strength Rating to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Rating to "aa-" (Superior) from "a+" (Excellent) of DB Insurance Co., Ltd. (DBI) (South Korea). The outlook of these Credit Ratings...

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 Alabama Municipal Insurance Corporation (AMIC) (Montgomery,...

AM Best has withdrawn the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" (Good) of Consumer Insurance Services Limited (CISL) (New Zealand) as the company no longer operates as an insurance company. At the...

AM Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating of "a-" (Excellent) to Bridgehaven Specialty UK Ltd (Bridgehaven Specialty) (United Kingdom). The company is a wholly owned subsidiary of...

KBRA assigns preliminary ratings to five classes of notes issued by Verdant Receivables 2023-1 LLC (Verdant 2023-1), an equipment ABS transaction. Verdant Commercial Capital, LLC (Verdant or the Company) is a small- and medium-ticket independent...

KBRA releases a report to reiterate its confidence in the U.S.'s AAA credit rating. In contrast to several other credit rating agencies (CRA), KBRA remains confident in our AAA credit rating on the U.S., and we also remained confident in that...

KBRA assigns preliminary ratings to nine classes of Velocity Commercial Capital 2023-3 (VCC 2023-3) mortgage-backed certificates. VCC 2023-3 is a $263.5 million securitization collateralized by 774 small balance commercial loans secured by 909...

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

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Genesis Global Insurance (SAC) Ltd. (Genesis) (Nassau, Bahamas). The outlook of these Credit Rating (ratings) is...

AM Best has revised the outlooks to stable from positive and affirmed the Financial Strength Rating of B+ (Good), the Long-Term Issuer Credit Rating of "bbb-" (Good) and the Mexico National Scale Rating of "aa-.MX" (Superior) of Quálitas Compañía de...

KBRA assigns preliminary ratings to five classes of notes (eight tranches) issued by Carvana Auto Receivables Trust 2023-P3 ("CRVNA 2023-P3"), a prime auto loan ABS transaction. CRVNA 2023-P3, represents the fifth term ABS securitization for the...

AM Best has upgraded the Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating to "a-" (Excellent) from "bbb+" (Good) of International Traders Insurance Co., Ltd. (ITICO) (Turks and Caicos Islands, British...

KBRA assigns preliminary 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 will issue five classes of...

KBRA assigns ratings to the $57.9 million Class A Loans, $17.4 million Class B Loans, and $11.6 million Class C Loans (the "Rated Debt") issued by Glendower Capital Secondaries CFO, LLC (in such capacity, the "Issuer"). Proceeds of the Rated Debt...

KBRA assigns preliminary ratings to six classes of notes issued by GLS Auto Receivables Issuer Trust 2023-3 ("GCAR 2023-3"), an auto loan ABS transaction. GCAR 2023-3 represents the third term ABS securitization for Global Lending Services, LLC...

KBRA assigns preliminary 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...

Antares Holdings LP ("Antares") today announced that Moody's Investors Service ("Moody's") has assigned the firm an investment grade issuer rating of Baa2 with a stable outlook, supported, in part, by Antares' long-term track record and demonstrated...

KBRA announces the assignment of preliminary 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 that is expected to be...

AM Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and Long-Term Issuer Credit Ratings (Long-Term ICR) of "a-" (Excellent) to the following operating subsidiaries of Enact Holdings, Inc. (EHI) (Delaware) [Nasdaq: ACT]: Enact...

AM Best has affirmed Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb" (Good) of Farmers Mutual of Tennessee (Farmers Mutual) (Knoxville, TN). The outlook of these Credit Ratings (ratings) is negative....

KBRA affirms the A- insurance financial strength rating (IFSR) for Brotherhood Mutual Insurance Company (BMIC or Brotherhood Mutual). KBRA also affirms the long-term credit rating of BBB on BMIC's outstanding surplus notes. The Outlook for both...

The August issue of Best's Review features the effects from litigation funding on settlement components, as well as a deep dive into an influential insurance podcast: "How Litigation Funding Is Affecting Settlement Strategies, Costs" indicates...

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 Wisconsin Municipal Mutual Insurance Company (WMMIC) (Madison, WI). The...

KBRA is pleased to announce the assignment of preliminary ratings to eight classes of AREIT 2023-CRE8, a $576.0 million fully ramped CRE CLO with limited loan acquisition ability. Initially, the transaction is expected to be collateralized by 22...

KBRA assigns the long-term rating of AA+ with a Stable Outlook for the City of Atlanta, GA Airport General Revenue Bonds, Series 2023B (Non-AMT) and Series 2023C (AMT), Airport Passenger Facility Charge and Subordinate Lien General Revenue Bonds,...

KBRA is pleased to announce the assignment of ratings to eight classes of PFP 2023-10, a $901.7 million CRE CLO with limited loan acquisition ability. Initially, the transaction is expected to be collateralized by 21 mortgage loans with an...

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 Moda Health Plan, Inc. (Moda Health). The outlook of the FSR has been...

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

KBRA UK (KBRA) is pleased to announce the assignment of preliminary ratings to five classes of Last Mile Logistics CMBS 2023-1 UK DAC, CMBS single-borrower transaction. The collateral for the transaction is a £289.8 million limited recourse, first...

KBRA assigns preliminary ratings to five classes of notes issued by Westlake Automobile Receivables Trust 2023-P1 ("WLAKE 2023-P1"), an asset-backed securitization collateralized by a pool of prime auto loans. WLAKE 2023-P1 will issue five classes...

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

KBRA affirms the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for Wichita, Kansas-based Fidelity Financial Corporation ("FFC", "Fidelity" or "the company"). In addition, KBRA affirms...

KBRA affirms the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for Banc of California, Inc. . Additionally, KBRA affirms the senior unsecured debt and deposit ratings of BBB+, the...