News by subject: Bond/Stock Rating

KBRA affirms the issuer and senior unsecured debt ratings of A for Petershill Partners Inc. ("Petershill Delaware"), a wholly owned issuing entity of Petershill Partners PLC ("PHP" or the "firm"). PHP has guaranteed a $500 million private placement...

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" (Excellent) of N.V. Univé Her (Univé Her) (Netherlands), a wholly owned subsidiary of Coöperatie Univé U.A. (Univé Group), a mutual...

KBRA releases research that analyzes currently outstanding commercial real estate (CRE) collateralized loan obligation (CLO) transactions issued in 2019, with the goal of understanding how collateral compositions have evolved over time in the wake of...

AM Best has withdrawn the Long-Term Issuer Credit Rating (Long-Term ICR) of "ccc-" (Weak) and associated Long-Term Issue Ratings (Long-Term IR) of Hallmark Financial Services, Inc. (Hallmark Financial) [NASDAQ: HALL]. Concurrently, AM Best has...

Colony Bankcorp, Inc. ("Colony" or the "Company") announced today the Company's ratings were affirmed by the Kroll Bond Rating Agency (KBRA) in its press release dated May 12, 2023. KBRA affirmed the senior unsecured debt rating of BBB, the...

On May 11, 2023, KBRA assigned a AA+ rating, with a Stable Outlook to the State of Wisconsin's (the State's) Master Lease Certificates of Participation (COPs) of 2023, Series A and a K1+ to the State's General Obligation (G.O.) Extendible Municipal...

KBRA affirms the senior unsecured debt rating of BBB+, the subordinated debt rating of BBB, and the short-term debt rating of K2 for Wayne, New Jersey based Valley National Bancorp ("the company"). Additionally, KBRA affirms the deposit and senior...

On May 11, 2023, KBRA assigned a long-term rating of AA+ with a Stable Outlook to the Triborough Bridge and Tunnel Authority (TBTA) Payroll Mobility Tax (PMT) Senior Lien Green Bonds, Series 2023B (Climate Bond Certified). Concurrently, the long-term...

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of "a" (Excellent) of Nectaris Re Ltd. (Nectaris Re), the operating subsidiary of Nectaris Holdings Ltd. (both domiciled in Bermuda). The...

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" (Excellent) of Lumen Re Ltd. (Lumen Re) (Bermuda). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Lumen...

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Dubai Insurance Company (PSC) (DIN) (United Arab Emirates). The outlook of these Credit Ratings (ratings) is positive....

AM Best has affirmed the Performance Assessment (assessment) of PA-3 (Strong) of First Indemnity Insurance Agency, Inc. (First Indemnity) (Boston, MA). The outlook of the assessment is stable. The assessment reflects First Indemnity's strong...

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb+" (Good) of Vietnam National Reinsurance Corporation (VINARE) (Vietnam). 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 Ratings of "a-" (Excellent) of Athora Life Re Ltd. (Athora Re) (Bermuda) and Athora Ireland plc (Athora Ireland) (Ireland). Both entities are wholly...

KBRA assigns preliminary ratings to four classes of notes issued by OneMain Financial Issuance Trust 2023-1 ("OMFIT 2023-1"), a consumer loan asset-backed securities transaction. OMFIT 2023-1 will issue four classes of notes totaling $449.09 million....

KBRA assigns preliminary ratings to five classes of notes that will be issued from Mission Lane Credit Card Master Trust, Series 2023-A ("MLANE 2023-A"), a credit card ABS transaction. The preliminary ratings reflect the initial credit enhancement...

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 Rating of "a-" (Excellent) of BlueShore Insurance Company (BlueShore) (Dallas, TX). The Credit...

KBRA is pleased to announce the assignment of preliminary ratings to 36 classes of MSWF 2023-1, a $664.0 million CMBS conduit transaction collateralized by 30 commercial mortgage loans secured by 30 properties. The collateral properties are located...

KBRA assigns preliminary ratings to five classes of notes issued by Octane Receivables Trust 2023-2 ("OCTL 2023-2"), a powersports equipment loan ABS transaction. OCTL 2023-2 will issue five classes of notes totaling $300.00 million. The...

KBRA assigns preliminary ratings to six classes of mortgage pass-through notes from Verus Securitization Trust 2023-4 (VERUS 2023-4), a $606.4 million non-prime RMBS transaction. The underlying collateral, comprising 1,178 residential mortgages, is...

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 Standard Casualty Company (Standard Casualty) (New Braunfels, TX). The outlook of...

KBRA assigns preliminary ratings to three classes of notes from Hotwire Funding LLC, Series 2023-1, a communications infrastructure securitization (CIS) that is primarily collateralized by fiber-to-the-home networks and related contracts. Hotwire...

KBRA assigns preliminary ratings to six classes of notes issued by LAD Auto Receivables Trust 2023-2 ("LADAR 2023-2"), an auto loan ABS transaction. LADAR 2023-2 represents the second term ABS securitization for Driveway Finance Corporation ("DFC"...

AM Best has revised the outlook for the Long-Term Issuer Credit Ratings (Long-Term ICR) to negative from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR of "a+" (Excellent) of North Carolina Farm Bureau...

AM Best has affirmed the Financial Strength Rating of B++ (Good), the Long-Term Issuer Credit Ratings of "bbb" (Good) and the Mexico National Scale Rating of "aa.MX" (Superior) of CESCE México, S.A. de C.V. (CESCEM) and its affiliate, CESCE Fianzas...

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of National General Insurance Company (P.J.S.C.) (NGI) (United Arab Emirates). The outlook of these Credit Ratings...

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 "bbb+" (Good) of Forge Insurance Company (Forge) (District of Columbia). The Credit Ratings...

AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to "ccc-" (Weak) from "bb" (Fair) and associated Long-Term Issue Ratings (Long-Term IRs) of Hallmark Financial Services, Inc. (Hallmark Financial) [NASDAQ: HALL]. Concurrently,...

KBRA examines the issues confronting regional banks as they seek to regain stakeholder confidence in the wake of high-profile failures of certain midsize banks. The demise of Silicon Valley Bank, Signature Bank, and First Republic Bank were highly...

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Agrinational Insurance Company (Agrinational) (headquartered in Colchester, VT). The outlook of these Credit Ratings...

KBRA assigns preliminary ratings to three classes of notes issued by Sunnova Helios XI Issuer, LLC Solar Loan Backed Notes, Series 2023-A ("Sunnova 2023-A"), a $286.7 million residential solar loan ABS transaction. The transaction is collateralized...

KBRA releases a recap of the CRE Finance Council's (CREFC) 16th annual High Yield, Investing & Lending Conference, held on May 3 as a one-day virtual event. KBRA was a participating sponsor of the summit, which included a fireside chat followed by...

KBRA assigns preliminary ratings to three classes of notes issued by GoodLeap Sustainable Home Solutions Trust 2023-2 ("GOOD 2023-2"), an asset-backed securitization collateralized by a pool of consumer solar loans and home improvement loans. The...

AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to "bb" (Fair) from "bb+" (Fair) and affirmed the Financial Strength Rating (FSR) of B (Fair) of Société Tunisienne de Réassurance (Tunis Re) (Tunisia). The outlook of the FSR...

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Motors Insurance Company Limited (MICL) (United Kingdom). The outlook of these Credit Ratings (ratings) is stable. MICL...

AM Best has revised the outlook to stable from negative for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR of "a+" (Excellent) of QBE Europe SA/NV (Belgium),...

AM Best has removed from under review with developing implications and downgraded the Financial Strength Rating (FSR) to D (Poor) from C- (Weak) and the Long-Term Issuer Credit Rating (Long-Term ICR) to "c" (Poor) from "cc" (Very Weak) of American...

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of "a+" (Excellent) of Ameritas Life Insurance Corp. (Lincoln, NE) and Ameritas Life Insurance Corp. of New York (New York, NY). These...

AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of C (Weak) and the Long-Term Issuer Credit Rating of "ccc" (Weak) of Cooperativa de Seguros de Vida de Puerto Rico (COSVI) (San Juan, Puerto Rico)....

KBRA assigns preliminary ratings to 38 classes of mortgage pass-through certificates from OBX 2023-INV1 Trust. The pool comprises 910 agency-eligible, mostly investment property loans with an aggregate principal balance of $315.4 million, as of the...

KBRA assigns preliminary ratings to six classes of notes issued by GLS Auto Receivables Issuer Trust 2023-2 ("GCAR 2023-2"), an auto loan ABS transaction. GCAR 2023-2 represents the second term ABS securitization for Global Lending Services, LLC...

KBRA releases the April 2023 issue of CMBS Trend Watch. Following the Federal Reserve's 10th consecutive rate hike, the central bank's tightening policy may be edging closer to a pause. This should contribute positively to a more stable market that...

KBRA is pleased to announce the assignment of preliminary ratings to 13 classes of Benchmark 2023-V2, a $859.7 million CMBS conduit transaction collateralized by 26 commercial mortgage loans secured by 66 properties. The collateral properties are...

AM Best has commented that the Credit Ratings (ratings) of Lincoln National Corporation (LNC) (headquartered in Radnor, PA) and its subsidiaries remain unchanged following the May 2, 2023, announcement that the company has entered into an agreement...

KBRA assigns preliminary ratings to one series of notes issued by MP 2023 LLC, Series 2023-1 ("MP 2023-1"), an inland marine vessel lease ABS transaction. MP 2023-1 is Maritime Partners' inaugural securitization and the first ABS securitization...

AM Best has commented that the Credit Ratings (ratings) of Blue Cross Blue Shield of Michigan Mutual Insurance Company (Detroit, MI) and Blue Care Network of Michigan (Southfield, MI) (collectively known as BCBS MI) remain unchanged following the May...

AM Best has placed under review with developing implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb+" (Good) of Blue Cross and Blue Shield of Vermont (BCBSVT) and its subsidiary, The Vermont Health...

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 Fortitude Reinsurance Company Ltd., Fortitude Life Insurance & Annuity...

On May 1, 2023, KBRA assigned a long-term rating of AA+ to the City of Fort Worth, TX General Purpose Improvement Bonds, Series 2023, Combination Tax and Revenue Certificates of Obligation, Series 2023 and Tax Notes, Series 2023. Concurrently, the...

On April 27, 2023, KBRA assigned a long-term rating of A+ to the City of Fresno, CA Airport Revenue Bonds, Series 2023A (AMT) and Airport Revenue [Refunding Bonds], Series 2023B (Non-AMT). Fresno Yosemite International Airport ("FAT") is owned and...