News by subject: Bond/Stock Rating

AM Best has assigned a Financial Strength Rating of B (Fair) and a Long-Term Issuer Credit Rating of "bb+" (Fair) to JSC Insurance Company Aldagi Group (Aldagi) (Georgia). The outlook assigned to these Credit Ratings (ratings) is stable. The...

KBRA affirms 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. ("ConnectOne" or "the...

KBRA is pleased to announce the assignment of preliminary ratings to 38 classes of BANK 2023-BNK46, a $720.6 million CMBS conduit transaction collateralized by 32 commercial mortgage loans secured by 32 properties. The collateral properties are...

KBRA assigns a preliminary 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...

KBRA affirms the senior unsecured debt rating of BBB+, the subordinated debt rating of BBB, and the short-term debt rating of K2 for Tupelo, Mississippi-based Renasant Corporation ("the company"). In addition, KBRA affirms the deposit and senior...

KBRA affirms the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for Aurora, Illinois based Old Second Bancorp, Inc. ("the company"). In addition, KBRA affirms the deposit and senior...

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 (FSR) of A (Excellent) of Commonwealth Annuity and Life Insurance Company (Brighton, MA),...

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 (Long-Term ICR) of "a+" (Excellent) of Lloyd's (United Kingdom), Lloyd's Insurance Company...

AM Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "aaa" (Exceptional) of Teachers Insurance and Annuity Association of America (TIAA) and its wholly owned insurance...

The growing frequency and severity of convective storms in southern U.S. states is an evolving situation for insurers and reinsurers, as these events are increasingly hampering insurers' ability to achieve effective diversification of their...

AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of B- (Fair) and the Long-Term Issuer Credit Rating of "bb-" (Fair) of Kommesk-Omir Life Insurance Company JSC (Kommesk Life) (Kazakhstan)....

KBRA Europe (KBRA) assigns preliminary ratings to Clavel Residential 3 DAC. The transaction is a static RMBS securitisation, collateralised by restructured, reperforming mortgage loans (RPL). The underlying collateral consists of a ?682.6 million...

AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of "aa-" (Superior) of WestGUARD Insurance Company, AmGUARD Insurance Company, EastGUARD Insurance Company, NorGUARD Insurance Company and...

KBRA releases topical and timely commentary on credit markets, compiled from our weekly podcast, 3 Things in Credit, hosted by our Chief Strategist, Van Hesser. Among the wide-ranging topics Van has addressed over the past month are second-half...

AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating (FSR) of B (Fair) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "bb+" (Fair) of WAICA Reinsurance Corporation PLC (WAICA Re)...

KBRA affirms 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 affirms the deposit and senior...

AM Best has placed under review with negative implications the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a-" (Excellent) of the members of Clear Blue Insurance Group (Clear Blue)...

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 Aflac Life Insurance Japan, Ltd. (Japan), American Family Life Assurance Company of Columbus...

KBRA assigns preliminary ratings to six classes of mortgage pass-through certificates from Cross 2023-H1 Mortgage Trust (CROSS 2023-H1), an inaugural RMBS transaction issued under the Hildene-CCC Loan Acquisition, LLC (CROSS) shelf, where Hildene...

KBRA affirms the Issuer rating of BBB- for Westlake Services, LLC ("Westlake" or "the company") and assigns an Issuer rating of BBB- to Nowlake Technology, LLC ("Nowlake"); Westlake's 100% owner. The Outlook for both entities' ratings is Positive....

Assured Guaranty Ltd. (together with its subsidiaries, Assured Guaranty) announced today that S&P Global Ratings (S&P) has affirmed the AA financial strength ratings on U.S. bond insurers Assured Guaranty Municipal Corp. (AGM) and Assured Guaranty...

AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" (Good) of Saudi Arabian Insurance Company B.S.C. (c) (Damana) (Bahrain). The outlook of these Credit Ratings (ratings) is negative. The...

KBRA is pleased to announce the assignment of preliminary ratings to 13 classes of BMO 2023-5C1, a $766.3 million CMBS conduit transaction collateralized by 27 commercial mortgage loans secured by 86 properties. The collateral properties are...

KBRA assigns a AAA Rating to Harris County, TX's Permanent Improvement Refunding Bonds, Series 2023A and Unlimited Tax Road Refunding Bonds, Series 2023A. KBRA additionally affirms the long-term AAA rating for the County's outstanding Tax and...

AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of "aa" (Superior) of Assured Guaranty Re Overseas Ltd. (AGRO) (Bermuda). 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 (Long-Term ICR) of "a-" (Excellent) of Lombard International Assurance S.A. (LIA SA) (Luxembourg). Concurrently, AM Best has affirmed the...

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 Pacific Life Insurance Company and Pacific Life & Annuity Company (collectively referred to as Pacific...

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of UnipolSai Assicurazioni S.p.A. (UnipolSai) (Italy). The outlook of these Credit Ratings (ratings) is stable. The...

KBRA affirms the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for Clearfield, Pennsylvania-based CNB Financial Corporation ("the company"). In addition, KBRA affirms the deposit 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 Dhipaya Insurance Public Company Limited (Dhipaya) (Thailand). The...

KBRA assigns a long-term rating of AA with a Stable Outlook to the State of Alaska's General Obligation Bonds. The rating reflects the fundamental strength of the State's general obligation pledge as well as the State's consistent maintenance of very...

KBRA assigns a long-term rating of AA- with a Stable Outlook to the Alaska Municipal Bond Bank Authority's General Obligation Bonds. The rating reflects the underlying credit characteristics of the State of Alaska, the essentiality of the Bank's role...

AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to "bbb" (Good) from "bbb+" (Good) and affirmed the Financial Strength Rating (FSR) of B++ (Good) of American Surety Company (ASC) (Indianapolis, IN). The outlook of these...

KBRA assigns preliminary ratings to five classes of notes issued by Foursight Capital Automobile Receivables Trust 2023-2 ("FCRT 2023-2"), an asset backed security collateralized by a pool of auto loans. FCRT 2023-2 represents the fourteenth rated...

AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings to "a" (Excellent) from "a-" (Excellent) of Dakota Truck Underwriters and First Dakota Indemnity Company. The outlook of...

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 ICR) of "a" (Excellent) of American Southern Insurance Company...

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 main subsidiaries of The Travelers Companies, Inc. (TRV) (headquartered in New York, NY)...

KBRA assigns preliminary ratings to four classes of notes issued by ACHV ABS Trust 2023-3PL ("ACHV 2023-3PL"), a $214.41 million consumer loan asset-backed securities transaction. The preliminary ratings reflect initial credit enhancement levels of...

KBRA assigns a long-term rating of AA+ to the City of Pflugerville, Texas (Travis and Williamson Counties, Texas) Combination Tax and Limited Revenue Certificates of Obligation, Series 2023A and Limited Tax Bonds, Series 2023. KBRA simultaneously...

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 CAMICO Mutual Insurance Company (CAMICO) (San Mateo, CA). The Credit...

KBRA assigns preliminary ratings to six classes of mortgage-backed notes from OBX 2023-NQM6 Trust (OBX 2023-NQM6), a $400.5 million non-prime RMBS transaction. The underlying collateral, comprising 842 residential mortgages, is characterized by a...

KBRA assigns preliminary ratings to six classes of mortgage pass-through certificates from Verus Securitization Trust 2023-INV2 (VERUS 2023-INV2), an approximately $393.7 million non-prime, investor cash flow RMBS transaction. The underlying...

KBRA assigns preliminary ratings to 42 classes of asset-backed securities from Towd Point Mortgage Trust 2023-CES1 (TPMT 2023-CES1), a $338.5 million RMBS transaction (as of the May 31, 2023 statistical calculation date) sponsored by FirstKey...

KBRA is pleased to announce that it will partner with fintech firm T-REX to further build its data infrastructure that supports the growth of private credit ABS. The multiyear collaboration will leverage T-REX's technology to enhance KBRA processes...

KBRA is pleased to announce the assignment of preliminary 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...

KBRA assigns preliminary ratings to 65 classes from Connecticut Avenue Securities, Series 2023-R06 (CAS 2023-R06), a credit risk sharing transaction with a total note offering of $765,558,000. The pool is characterized by loans with original...

KBRA affirms the senior unsecured debt and deposit ratings of A+, the subordinated debt rating of A, and the short-term debt and deposit ratings of K1 for Hamilton, Bermuda-based The Bank of N.T. Butterfield & Son Limited . The Outlook for all...

KBRA assigns a rating of BBB to Blue Owl Credit Income Corp.'s ("OCIC" or "the company") $150 million 7.95% senior unsecured notes due June 13, 2028. The rating Outlook is Stable. The proceeds will be used for general corporate purposes, including...

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "bbb" (Good) of Sura Re Ltd. (Sura Re) (Bermuda). The outlook of these Credit Ratings (ratings) is stable. The ratings...

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