News by subject: Bond/Stock Rating

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 Guardian Life Insurance Company of America (Guardian Life) (New York, NY) and its core subsidiaries,...

AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Ratings (FSR) of A (Excellent) and the Long-Term ICRs of "a" (Excellent) of Beazley Insurance...

AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of "bb+" (Fair) of Kenya Reinsurance Corporation Limited (Kenya Re) (Kenya). The outlook of these Credit Ratings (ratings) is stable. The ratings...

KBRA is assigning preliminary ratings to the Series 2023-1 Class A-1 Notes, Class A-2 Notes, Class B Notes, and Class C Notes (the Series 2023-1 Notes) from Adams Outdoor Advertising Limited Partnership, (the Issuer), an asset-backed securitization...

KBRA assigns preliminary ratings to 25 classes of mortgage pass-through certificates from Morgan Stanley Residential Mortgage Loan Trust 2023-2 (MSRM 2023-2). MSRM 2023-2 comprises 309 residential mortgages with an aggregate principal balance of...

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 the U.S. operating subsidiaries of Global Indemnity Group, LLC (Global Indemnity) (Delaware)...

KBRA assigns its BBB preliminary rating to the proposed issuance of the Colorado High Performance Transportation Enterprise (HPTE) I-25 North Express Lanes Revenue Bonds. The Outlook is Stable. The financing plan consists of a loan of up to $501...

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of "a+" (Excellent) of Seguros Catalana Occidente, S.A. de Seguros y Reaseguros (SCO), Bilbao, Compañía Anónima de Seguros y Reaseguros, S.A....

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 Atradius Seguros de Crédito, S.A. (Atradius Mexico) (Mexico...

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). The outlook of these Credit Ratings (ratings) is...

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...

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of "a-" (Excellent) to Best Meridian International Insurance Company, I.I. (BMIIC II) (San Juan, PR). The outlook assigned to these Credit Ratings...

On July 10, 2023, KBRA assigned long-term ratings to the Sports Authority of the Metropolitan Government of Nashville and Davidson County Stadium Project Senior Revenue Bonds, Series 2023A of AA- Stable Outlook; Stadium Project Subordinate Revenue...

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 of B++ (Good) of American Life & Security Corp. (ALSC) (headquartered in Lincoln, NE)....

AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of "bb" (Fair) of Cameron Mutual Insurance Company (Cameron Mutual) (Cameron, MO). The outlook of these Credit Ratings (ratings) is negative....

KBRA Europe (KBRA) assigns preliminary ratings to two classes of notes issued by Portman Square 2023-NPL1 DAC (Portman 2023, the Issuer), a static securitisation collateralised by a ?576.3 million portfolio of primarily non-performing Irish...

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 Century Insurance Company (Guam) Limited (CIC Guam) (Guam). The Credit...

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of "aa-" (Superior) of the members of Old Republic Insurance Companies (Old Republic). Concurrently, AM Best has...

Regulatory News: Median Technologies (Euronext Growth - ALMDT) reports today its business indicators for the first half of 2023 for the iCRO activity (non-audited figures) and the iBiopsy® activity. "The second quarter of 2023 confirms the...

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb" (Good) of Individual Assurance Company, Life, Health & Accident (IAC) and LifeShield...

AM Best has withdrawn the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Fidelity Insurance Limited (Fidelity Insurance) (New Zealand) as the company no longer operates as an insurance...

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Enel Insurance N.V. (EINV) (Netherlands), a captive of Enel S.p.A. (Enel), a multinational electric utility company...

Despite ongoing challenges that have persisted for U.S. fraternal insurance companies over the past decade, the segment has continued to post favorable operating results on an aggregate basis, according to a new AM Best report. The Best's Special...

KBRA assigns preliminary ratings to three classes of Series 2023-1 Notes ("OnDeck 2023-1") issued by OnDeck Asset Securitization Trust IV, LLC. OnDeck Asset Securitization Trust IV, LLC will issue three classes of Series 2023-1 Notes, (collectively,...

KBRA releases the June 2023 issue of the KBRA CMBS Loss Compendium, which provides loss estimates for all KBRA-rated conduit transactions. In this report and its accompanying spreadsheet, KBRA provides insight into loss estimates for 317 outstanding...

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of ERIKA Försäkringsaktiebolag (publ) (Erika) (Sweden). The outlook of these Credit Ratings (ratings) is stable. The...

KBRA assigns ratings to five classes of notes issued by Pagaya AI Debt Trust 2023-5 ("PAID 2023-5"), a consumer loan ABS transaction. PAID 2023-5 has initial credit enhancement levels of 57.70% for the Class A notes to 7.95% for the Class E notes....

AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of "bbb+" (Good) to CICA Life Insurance Company of America (CICA). CICA is headquartered in Austin, TX. The outlook assigned to these Credit Ratings...

KBRA assigns long-term ratings to the Sports Authority of the Metropolitan Government of Nashville and Davidson County Stadium Project Senior Revenue Bonds, Series 2023A at AA- Stable Outlook, Stadium Project Subordinate Revenue Bonds, Series 2023B...

KBRA assigns preliminary ratings to four classes of notes issued by Marlette Funding Trust 2023-3 ("MFT 2023-3"), a $279.803 million consumer loan ABS transaction. The ratings reflect initial credit enhancement levels of 55.68% for the Class A...

KBRA releases research that examines the different strategies adopted by U.S. collateralized loan obligation (CLO) managers. An individual CLO manager's style or approach to investing in a pool of leveraged loans can vary compared to its peers. In...

KBRA assigns preliminary ratings to three classes of notes issued by PEAR 2023-1, LLC (PEAR 2023-1), a securitization collateralized by litigation finance receivables and medical receivables. PEAR 2023-1 represents Golden Pear Funding OpCo, LLC's...

KBRA affirms the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for Fort Myers, Florida based FineMark Holdings, Inc. . In addition, KBRA affirms the deposit and senior unsecured debt...

AM Best has affirmed the Financial Strength Ratings of A (Excellent) and the Long-Term Issuer Credit Ratings of "a+" (Excellent) of Old United Casualty Company (OUC) and Old United Life Insurance Company (OUL). The outlook of these Credit Ratings...

KBRA assigns a BBB+ Insurance Financial Strength Rating (IFSR) to Safepoint Insurance Company and a BBB IFSR to Cajun Underwriters Reciprocal Exchange. The Outlook for all ratings is Stable. Safepoint Insurance Company is a Florida domiciled...

KBRA affirms the Issuer rating of BB+ for Rithm Capital Corp. . KBRA also affirms the Issuer ratings of BB+ for NewRez LLC ("NewRez") and Caliber Home Loans, Inc. ("Caliber"), two indirect, wholly-owned subsidiaries of Rithm. The Outlook for all...

KBRA releases a report highlighting the payment status of aviation asset-backed securities (ABS). Aviation ABS lease transactions were the hardest hit by COVID-19, from a credit perspective, among all structured finance sectors. Stay-at-home orders,...

AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "a-" (Excellent) of Universal Insurance Company (UIC). At the same...

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 SWBC Life Insurance Company (SWBC Life) (San Antonio, TX). The outlooks of these...

AM Best has upgraded the Financial Strength Rating (FSR) to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) to "aa-" (Superior) from "a+" (Excellent) of the subsidiaries of Odyssey Group Holdings, Inc....

AM Best has commented that the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of "a-" (Excellent) of American Equity Investment Life Insurance Company and its subsidiaries, American Equity Investment Life...

KBRA assigns a rating of BBB to Blue Owl Technology Income Corporation's ("OTIC" or "the company") $100 million 8.25% senior unsecured notes due July 6, 2026. The rating Outlook is Stable. The company changed its name from Owl Rock Technology Income...

KBRA releases the June 2023 issue of CMBS Trend Watch. In this month's Spotlight, we highlight the conditions in which commercial real estate collateralized loan obligation (CRE CLO) collateral managers can extend loans. The Spotlight followed...

KBRA assigns preliminary ratings to five classes of notes issued by DT Auto Owner Trust 2023-3 ("DTAOT 2023-3"), an asset-backed securitization collateralized by a pool of sub-prime auto loans. DTAOT 2023-3 will issue five classes of notes totaling...

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

AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "a-" (Excellent) of M&C General Insurance Company Limited (M&C General) (St Lucia). The outlook of these Credit...

KBRA affirms the issuer and senior unsecured debt ratings of BBB for New York, NY-based BGC Partners, Inc. ("BGC" or "the company"). The Outlook for the ratings is Stable. The ratings are underpinned by management's long record of producing mostly...

AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" (Good) of Bosna Reosiguranje d.d. Sarajevo (Bosna Re) (Bosnia and Herzegovina [BH]). The outlook of these Credit Ratings (ratings) is...

KBRA assigns preliminary ratings to four classes of notes issued by Reach ABS Trust 2023-1 ("REACH 2023-1"), an unsecured consumer loan ABS transaction. This transaction represents Reach Financial, LLC's ("Reach", the "Servicer" or the "Company")...

KBRA assigns preliminary ratings to four classes of notes issued by MMAF Equipment Finance LLC 2023-A (MMAF 2023-A), an equipment ABS transaction. MMAF 2023-A represents the 19th equipment ABS sponsored by MassMutual Asset Finance LLC (MMAF or the...