News by subject: Bond/Stock Rating

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "aa" (Superior) of Caisse Centrale de Réassurance (CCR) (France). The outlook of the FSR is stable while the Long-Term...

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 CCR RE (France). The outlook assigned to these Credit Ratings...

KBRA assigns the long-term rating of AA with a Stable Outlook for the Dallas Fort Worth International Airport Joint Revenue Refunding Bonds Taxable Series 2023A, Joint Revenue Refunding and Improvement Bonds Series 2023B (Non-AMT), and Joint Revenue...

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of "a-" (Excellent) to Velocity Specialty Insurance Company (VSIC) (Delaware). The outlook assigned to these Credit Ratings (ratings) is stable....

AM Best has affirmed the Financial Strength Rating of B++ (Good) and Long-Term Issuer Credit Rating (Long-Term ICR) of "bbb" (Good) of The Providence Mutual Fire Insurance Company (Providence Mutual) (Warwick, RI). The outlook of these Credit Ratings...

KBRA affirms the BBB- issuer and senior unsecured ratings for MidCap Financial Investment Corporation . The ratings Outlook is Stable. Key Credit Considerations The company's ratings reflect MFIC's ties to Apollo Global Management, Inc., (AGM) a...

KBRA affirms the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for Springfield, Missouri-based Great Southern Bancorp, Inc. ("the company"). In addition, KBRA affirms the deposit and...

KBRA releases a report examining the stability of KBRA's ratings and how those ratings transitioned over 1-year, 3-year, 5-year, and lifetime time horizons between 2011 and 2022. The ratings universe used in this study includes both published and...

AM Best has downgraded the Financial Strength Rating (FSR) to B (Fair) from B++ (Good) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to "bb+" (Fair) from "bbb" (Good) of The California Casualty Indemnity Exchange (San Mateo, CA) and its...

KBRA assigns a rating of BBB to Owl Rock Capital Corporation III's ("ORCC III" or "the company") $100 million 8.10% senior unsecured notes due June 29, 2028. The rating Outlook is Stable. Key Credit Considerations The rating reflects the...

KBRA assigns a rating of BBB to Kayne Anderson BDC, Inc.'s ("KABDC" or "the company") $25 million 8.65% senior unsecured notes due 2027 and $50 million 8.74% senior unsecured notes due 2028. The rating Outlook is Stable. The proceeds will be used for...

AM Best has affirmed the Long-Term Issue Credit Rating (Long-Term IR) of "a" (Excellent) on the $846 million (of which $550 million remained outstanding as of March 31, 2023), 6.00% variable funding credit-linked note (note), due July 1, 2038, issued...

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 ELCO Mutual Life and Annuity (ELCO) (Lake Bluff, IL). The outlook of the Credit Ratings...

Thanks to the responsible management of its finances and resources, the Metropolitan Water District of Southern California has once again received excellent credit ratings from the nation's top rating agencies. Following recent rating actions by S&P...

KBRA assigns preliminary ratings to 65 classes from Connecticut Avenue Securities, Series 2023-R05 (CAS 2023-R05), a credit risk sharing transaction with a total note offering of $738,197,000. The pool is characterized by loans with original...

Publicly traded U.S. health insurance companies posted a 9% increase in net income to $40 billion in 2022, even as utilization has reverted to, and in some regions, exceeded pre-pandemic levels, according to a new AM Best report. The Best's Special...

SoundHound AI, Inc. , a global leader in voice artificial intelligence, announced today that as part of the 2023 annual reconstitution of the Russell indexes, the company has been selected to be included in the Russell 2000® and broad-market Russell...

KBRA affirms the deposit and senior unsecured debt ratings of A-, the subordinated debt rating of BBB+, and the short-term deposit and debt ratings of K2 for Portsmouth, Virginia-based TowneBank . The Outlook for all long-term ratings is revised to...

KBRA assigns preliminary ratings to two classes of notes issued by Golub Capital Partners ABS Funding 2023-1 (GCPAF 2023-1), a securitization backed by a portfolio of recurring revenue and middle market corporate loans. GCPAF 2023-1 is an...

AM Best has downgraded the Financial Strength Rating to A-(Excellent) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to "a-" (Excellent) from "a" (Excellent) of New York Schools Insurance Reciprocal (NYSIR) (Uniondale, NY)....

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 Ratings (Long-Term ICR) of "a-" (Excellent) of Accredited Specialty Insurance Company (ASI)...

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 Trinidad & Tobago Insurance Limited (TATIL) (Trinidad and...

KBRA assigns preliminary ratings to five classes of Tricon Residential 2023-SFR1 (TCN 2023-SFR1) single-family rental pass-through certificates. TCN 2023-SFR1 is a single-borrower, single-family rental (SFR) securitization that will be...

AM Best has downgraded the Long-Term Issuer Credit Ratings (ICR) to "ccc" (Weak) from "ccc+" (Weak) and affirmed the Financial Strength Rating (FSR) of C (Weak) of Health Insurance Plan of Greater New York (HIP), EmblemHealth Insurance Company (EIC),...

KBRA assigns a AA+ rating with a Stable Outlook to the Travis County Hospital District, TX Certificates of Obligation, Series 2023A (Limited Tax) and Taxable Series 2023B (Limited Tax). The Certificates are payable from receipts of a separate,...

Despite contending with economic headwinds and the related challenges, Latin America's insurance market remains sound with premium levels nearing those last seen in 2019, according to a new AM Best report. The Best's Special Report, "Tighter...

KBRA announces the assignment of preliminary ratings to six classes of DATA 2023-CNTR, a CMBS single-borrower securitization. The collateral for the transaction is a $450.0 million non-recourse, first lien mortgage loan that is expected to be...

KBRA affirms the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for Green Bay, Wisconsin based Nicolet Bankshares, Inc. ("Nicolet" or "the company"). In addition, KBRA affirms the...

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 property/casualty subsidiaries of The Hanover Insurance Group, Inc. [NYSE: THG], which are...

Moody's Investors Service has recognized the improved financial strength of the California Housing Finance Agency by upgrading CalHFA's Issuer Rating to "Aa2." It is the highest rating in Agency history and is among the top ratings that Moody's...

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a+" (Excellent) of Scotia Insurance (Barbados) Limited (SIB) (Barbados). 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 Scotia Reinsurance Limited (Scotia Re) (Barbados). The outlook of these Credit Ratings (ratings) is stable. The ratings...

KBRA assigns preliminary ratings to three classes of notes from TierPoint Issuer, LLC and TierPoint Co-Issuer, LLC Series 2023-1 and Series 2023-2, a data center securitization that is primarily collateralized by fee ownership and leasehold interests...

KBRA affirms 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 addition, KBRA affirms...

AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of "aa-" (Superior) of United Overseas Insurance Limited (UOI) (Singapore). 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 AmTrust Assicurazioni S.p.A. (AmTrust Assicurazioni) (Italy). The outlook of these Credit Ratings (ratings) is stable....

KBRA affirms the senior unsecured debt rating of BBB+, the subordinated debt rating of BBB, and the short-term debt rating of K2 for Walla Walla, Washington-based Banner Corporation . In addition, KBRA affirms the deposit and senior unsecured debt...

KBRA assigns preliminary ratings to 7 classes of mortgage-backed notes from JP Morgan Mortgage Trust 2023-HE1 (JPMMT 2023-HE1), a $186.4 million RMBS transaction sponsored by J.P. Morgan Mortgage Acquisition Corp. (J.P. Morgan). The transaction...

CBRE Group, Inc. (the "Company") today announced the pricing of the offering of $1 billion in aggregate principal amount of 5.950% Senior Notes due 2034 (the "Notes"). The Notes will have an interest rate of 5.950% per annum and are being issued at...

KBRA is pleased to announce the assignment of preliminary ratings to four classes of FREMF Series 2023-K157 mortgage pass-through certificates and three classes of Freddie-Mac structured pass-through certificates (SPCs), Series K-157. FREMF 2023-K157...

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 Hauppauge, New York-based Dime Community Bancshares, Inc. ("Dime" or "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 Lowell, Massachusetts based Enterprise Bancorp, Inc. . Moreover, KBRA affirms the deposit and senior unsecured debt...

KBRA assigns preliminary ratings to three classes of notes issued by Upstart Securitization Trust 2023-2 ("UPST 2023-2"), a $174.021 million consumer loan ABS. UPST 2023-2 will include a $75 million prefunding period and will have an expected...

KBRA is pleased to announce the assignment of preliminary ratings to 36 classes of BANK5 2023-5YR2, a $675.1 million CMBS conduit transaction collateralized by 20 commercial mortgage loans secured by 35 properties. The collateral properties are...

KBRA affirms the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for Nashville, Tennessee-based FB Financial Corporation. . In addition, KBRA affirms the deposit and senior unsecured...

KBRA assigns preliminary ratings to four classes of notes issued by Avant Loans Funding Trust 2023-REV1 ("AVNT 2023-REV1"), a $200 million consumer loan asset backed security transaction. The preliminary ratings reflect initial credit enhancement...

KBRA assigns a rating of ?AAA' for Senior Notes and ?AA-' to the Mandatory Redeemable Preferred Shares ("MRPS") issued by abrdn Asia-Pacific Income Fund, Inc. ("FAX" or the "Fund"). The Fund is registered under the Investment Company Act of 1940...

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 Farmers Mutual of Tennessee (Farmers Mutual) (Knoxville, TN). The outlook...

AM Best has removed from under review with negative implications and downgraded the Financial Strength Rating to B+ (Good) from B++ (Good) and the Long-Term Issuer Credit Rating to "bbb-" (Good) from "bbb" (Good) of Universal North America Insurance...

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Al Ahleia Insurance Company S.A.K.P. (Al Ahleia) (Kuwait). The outlook of these Credit Ratings (ratings) is stable....