News by subject: Bond/Stock Rating

AM Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of "a-" (Excellent) to Somerset Reinsurance Company (SRC) (Orlando, FL). The outlook assigned to these Credit Ratings...

AM Best has placed under review with negative implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "a+" (Excellent) of Independent Specialty Insurance Company (ISIC) (Dover, DE)....

KBRA affirms the BBB issuer and senior unsecured debt ratings for FS KKR Capital Corp. . The Outlook for the ratings is Stable. Key Credit Considerations The ratings and Stable Outlook are supported by FS KKR Capital Corp.'s ties to KKR & Co.,...

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a-" (Excellent) of Germania Farm Mutual Insurance Association and...

AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of "bbb" (Good) to Heartland National Life Insurance Company (HNL) (Indianapolis, IN). The outlook assigned to these Credit Ratings (ratings) is...

AM Best has placed under review with developing implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a" (Excellent) of Validus Reinsurance, Ltd. (Validus Re) (Hamilton, Bermuda)...

AM Best has assigned a Long-Term Issue Credit Rating of "a+" (Excellent) to the new $750 million, 5.45% 30-year senior unsecured notes due May 25, 2053, recently issued by The Travelers Companies, Inc. (Travelers) (headquartered in New York, NY)...

KBRA affirms the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for Terrell, Texas-based The ANB Corporation ("the company" or "ANB"). Additionally, KBRA affirms the deposit and senior...

AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of "a" (Excellent) to the recently announced $500 million of 4.95% senior unsecured notes, due 2033, issued by The Progressive Corporation (Progressive) (Mayfield Village, OH) [NYSE:...

KBRA assigns a senior unsecured debt rating of BBB with a Stable Outlook to the senior unsecured notes issued by BGC Partners, Inc. ("BGC" or "the company"). The notes are scheduled to mature on May 25, 2028. BGC is a leading global wholesale...

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

AM Best has commented that the Credit Ratings (ratings) of Farmers New World Life Insurance Company (FNWL) (Bellevue, WA) remain unchanged following the announcement that the company has entered into an agreement with Resolution Life Group to...

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

AM Best will host a joint presentation with the Insurance Marketing & Communications Association (IMCA) on Friday, June 2, 2023, at 12:00 p.m. (EDT). In a live, interactive roundtable discussion, Chris LaMantia, chief sales and marketing officer at...

KBRA assigns preliminary ratings to 6 classes of mortgage-backed notes from Saluda Grade Alternative Mortgage Trust 2023-SEQ3 (GRADE 2023-SEQ3), a $232.7 million RMBS transaction sponsored by Saluda Grade Opportunities Fund LLC. The collateral...

AM Best has commented that the Credit Ratings (ratings) of RenaissanceRe Holdings Ltd. (RenaissanceRe) (Bermuda) [NYSE: RNR] and its various affiliated entities are unchanged following RenaissanceRe's announcement from May 22, 2023, that it had...

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 Farm Bureau Mutual Insurance Company of Idaho and its indirect subsidiary,...

Phoenix Holdings Ltd., a leading Israel-based financial, insurance, and investment group ("The Phoenix", the "Group", or the "Company"), today announced that Moody's has assigned an A2 insurance financial strength rating (IFSR) and a stable outlook...

KBRA affirms the ratings for Peapack-Gladstone Financial Corporation ("Peapack" or "the company"), including the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3. KBRA also affirms the...

KBRA publishes and affirms the senior unsecured debt rating of BBB+, the subordinated debt rating of BBB, and the short-term debt rating of K2 for Heritage Financial Corporation , a bank holding company headquartered in Olympia, WA. KBRA additionally...

KBRA assigns preliminary ratings to 65 classes from Connecticut Avenue Securities, Series 2023-R04 (CAS 2023-R04), a credit risk sharing transaction with a total note offering of $765,166,000. The pool is characterized by loans with original...

KBRA affirms the senior unsecured debt rating of BBB- and the short-term debt rating of K3 for Coral Gables, Florida-based Amerant Bancorp Inc. ("the company"). In addition, KBRA affirms the deposit and senior unsecured debt ratings of BBB, the...

AM Best has assigned a Long-Term Issue Credit Rating of "bbb+" (Good) to the $600 million 7.375% non-cumulative perpetual preferred stock recently issued by The Allstate Corporation (headquartered in Northbrook, IL) [NYSE: ALL]. The outlook assigned...

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 United Home Life Insurance Company. At the same time, AM...

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

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 Eureka-Re SCC (Eureka) (Barbados). The outlook revisions to positive...

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of "a" (Excellent) of Compagnie française d'assurance pour le commerce extérieur (la Compagnie) (France), Coface 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 Royal Bank of Canada Insurance Company Ltd. (RBCICL) (Cayman Islands). The outlook of these Credit Ratings (ratings) is...

KBRA assigns preliminary ratings to three classes of notes (four tranches) issued by Lendbuzz Securitization Trust 2023-2 ("LBZZ 2023-2"), an auto loan ABS transaction. LBZZ 2023-2 is Lendbuzz Funding LLC's ("Lendbuzz" or the "Company") fourth ABS...

AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term ICRs of "bbb-" (Good) of Conifer Insurance Company (CIC) and White Pine Insurance Company (White Pine), subsidiaries of Conifer Holdings, Inc. (CHI) [NASDAQ: CNFR], a...

AM Best has assigned a Long-Term Issue Credit Rating of "bbb+" (Good) to the recently issued $400 million 5.5% senior unsecured notes due 2033 of CNA Financial Corporation (CNAF) (Chicago, IL). The outlook assigned to the Credit Rating (rating) is...

AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of "bb+" (Fair) of Jordan Insurance Company Plc. (JIC) (Jordan). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect...

KBRA assigns preliminary ratings to three classes of notes issued by US Claims LFS Securitization, Series 2023-A (LFS 2023A), a litigation finance ABS. LFS 2023A represents the ninth ABS collateralized by litigation finance receivables to be...

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb" (Good) of Nacional de Seguros S.A. Compañía de Seguros Generales (Nacional de Seguros) (Bogota, Colombia). 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 Instituto Nacional de Seguros (INS) (San Jose, Costa Rica). The outlook of these Credit Ratings (ratings) is stable....

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 Intact Insurance Company, the lead company of Intact Financial Corporation (IFC) [TSX: IFC], as...

KBRA assigns preliminary ratings to five classes of notes (eight tranches) issued by Carvana Auto Receivables Trust 2023-P2 ("CRVNA 2023-P2"), a prime auto loan ABS transaction. CRVNA 2023-P2 represents the third term ABS securitization for...

On April 14, 2023, KBRA affirmed the senior unsecured debt rating of BBB+, the subordinated debt rating of BBB, and the short-term debt rating of K2 for Champaign, Illinois based First Busey Corporation ("the company"). In addition, KBRA affirmed...

KBRA is pleased to announce the assignment of preliminary ratings to 18 classes of BMO 2023-C5, a $657.6 million CMBS conduit transaction collateralized by 34 commercial mortgage loans secured by 190 properties. The collateral properties are...

On May 12, 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 Fitzgerald, Georgia-based Colony Bankcorp, Inc. ("the company"). In addition, KBRA affirmed the...

KBRA releases its RMBS Trend Watch, providing updates on key RMBS market and performance themes as of year-to-date (YTD) 2023, as well as issuance volume trends and forecasts for 2023, collateral performance trends, and rating surveillance outcomes....

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 McMillan-Warner Mutual Insurance Company (MWM) (Marshfield, WI). These...

On April 27, 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 Henderson, Texas-based VeraBank, Inc. ("VeraBank" or "the company"). In addition, KBRA affirmed...

KBRA assigns preliminary ratings to 43 classes of mortgage pass-through notes from GS Mortgage-Backed Securities Trust 2023-PJ3 (GSMBS 2023-PJ3). The transaction is backed by primarily prime jumbo mortgages with an aggregate principal balance of...

On May 16, 2023, KBRA assigned a long-term rating of AA+ with a Stable Outlook to The City of New York's General Obligation Bonds, Fiscal 2023 Series F, Fiscal 2023 Series G and Fiscal 2023 Series 1. Concurrently, KBRA affirms the AA+ rating and...

KBRA assigns preliminary ratings to six classes of mortgage pass-through notes from OBX 2023-NQM4 Trust (OBX 2023-NQM4), a $394.3 million non-prime RMBS transaction. The underlying collateral, comprising 900 residential mortgages, is characterized by...

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B- (Fair) and the Long-Term Issuer Credit Rating of "bb-" (Fair) of Suez Canal Insurance (SCI) (Egypt). The Credit Ratings (ratings) reflect...

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 Providence Mutual Fire Insurance Company (Providence Mutual) (Warwick, RI)....

KBRA assigns preliminary ratings to two classes of notes issued by FortiFi 2023-1, Series 2023-1 ("FortiFi 2023-1", LLC. The notes are newly issued asset-backed securities backed by a portfolio of Property Assessed Clean Energy ("PACE") Bonds. The...

On May 15, 2023, KBRA assigned 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 2023. KBRA simultaneously affirmed the...