News by subject: Bond/Stock Rating

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 Assurant Daños México, S.A. (ADM) and Assurant Vida México, S.A. (AVM). The outlook of these...

AM Best has revised the implications of the under review status to positive from developing for the Financial Strength Rating of B (Fair), the Long-Term Issuer Credit Rating of "bb" (Fair) and the Mexico National Scale Rating of "a.MX" (Excellent) of...

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 Oxford Insurance Companies (Oxford). See...

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 Virginia Surety Seguros de México S.A. de C.V. (VSSM) (Mexico City, Mexico). The outlook of these...

KBRA assigns a long-term AAA rating with a Stable Outlook to the Transportation Revenue Refunding Bonds, 2024 Series 2 to be issued by the State of Wisconsin (the State). Concurrently, KBRA affirms the long-term AAA rating with a Stable Outlook on...

KBRA assigns preliminary ratings to six classes of mortgage-backed notes from OBX 2024-NQM4 Trust (OBX 2024-NQM4), a $592.4 million non-prime RMBS transaction. The underlying collateral, comprising 1,181 residential mortgages, is characterized by a...

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb+" (Good) of ICICI Lombard General Insurance Company Limited (ICICI Lombard) (India). Concurrently, AM Best has assigned the India National...

KBRA assigns preliminary ratings to four classes of notes (the "Notes") issued by Credibly Asset Securitization II LLC, Series 2024-1 ("CRDBL 2024-1"). Credibly (or the "Company") is the Sponsor, Seller, and Servicer for CRDBL 2024-1. Credibly was...

KBRA assigns ratings of ?BBB (sf)' to the Series 2024-GT1 Term Notes from PNMAC GMSR ISSUER TRUST, PennyMac Loan Services, LLC's (PLS) master trust issuer of notes backed by participation certificates evidencing participation interest in mortgage...

AM Best has placed under review with negative implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" (Excellent) of Southern Mutual Church Insurance Company (SMCIC) (South Carolina). These Credit...

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 Ratings of "a" (Excellent) of Validus Reinsurance, Ltd. (Validus Re) (Hamilton, Bermuda)...

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

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" (Excellent) of Park Assurance Company (Park) (Colchester, VT). The outlook of these Credit Ratings (ratings) is stable. The ratings...

Capitalization levels for U.S. health insurers will continue to grow this year, but earnings are expected to narrow as profitability from government programs such as Medicaid managed care and Medicare Advantage return to more normal levels, according...

KBRA assigns a long-term rating of AA to the Department of Water and Power of the City of Los Angeles (LADWP) Power System Revenue Bonds, 2024 Series A and 2024 Series B. The long-term rating of AA on LADWP's outstanding Power System Revenue Bonds is...

KBRA announces the assignment of preliminary ratings to six classes of BX 2024-PAT, a CMBS single-borrower securitization. The collateral for the transaction is a $308.5 million floating rate, interest-only mortgage loan. The loan has an initial...

KBRA assigns long-term ratings, each with a Stable Outlook, for the following Clark County, NV obligations: AA- to the Clark County, Nevada Airport System Subordinate Lien Refunding Revenue Bonds Series 2024A (Non-AMT) A+ to the Clark County,...

KBRA assigns preliminary ratings to eight classes of notes issued by Westlake Automobile Receivables Trust 2024-1 ("WLAKE 2024-1"), an asset-backed securitization collateralized by a pool of auto loans. WLAKE 2024-1 will issue eight classes (Class...

KBRA releases a Tuesday recap of the SFVegas 2024 conference held on February 25-28. Tuesday began with two fireside chats with Erik Gerding of the Securities and Exchange Commission (SEC), as well as U.S. Representative French Hill (R-AR 2nd...

AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of "a" (Excellent) to NLADA Mutual Insurance Company, a Risk Retention Group (NLADA Mutual) (District of Columbia). The outlook assigned to these...

Regulatory News: The Teleperformance (Paris:TEP) share price has been hit hard today by a communication from a company in the financial sector announcing a high level of automation in its customer service chats. Teleperformance management points...

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" (Excellent) of Compañía Internacional de Seguros, S.A. (CIS) (Panama City, Panama). The outlook of these Credit Ratings (ratings) is...

KBRA releases a report on U.S. commercial mortgage-backed securities (CMBS) loan performance trends observed in the February 2024 servicer reporting period. The delinquency rate among KBRA-rated U.S. commercial mortgage-backed securities (CMBS) in...

KBRA assigns preliminary ratings to 7 classes of Mortgage Participation Pass-Through Certificates from J.P. Morgan Mortgage Trust 2024-HE1 (JPMMT 2024-HE1), a $210.0 million RMBS transaction sponsored by J.P. Morgan Mortgage Acquisition Corp. and...

AM Best will sponsor and participate in the annual CICA International Conference, which will take place March 10-12, 2024, in Scottsdale, AZ. AM Best Rating Services Director Dan Teclaw will moderate a panel session, titled, "Sustainable Attributes...

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

KBRA assigns long-term rating of AA+ with a Stable Outlook to The City of New York's General Obligation Bonds - Fiscal 2006 Series J, Subseries J-A, Fiscal 2008 Series A, Subseries A-4, Fiscal 2008 Series C, Subseries C-4, Fiscal 2009 Series B,...

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 Equitable Financial Life Insurance Company of America (EFLICOA) (Phoenix, AZ) and Equitable...

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" (Excellent) of Mutual of America Life Insurance Company (MofA) (New York, NY). The outlook of these Credit Ratings (ratings) 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 Atlantic Coast Life Insurance Company (Charleston, SC) and Sentinel Security Life...

KBRA assigns ratings of ?BBB (sf)' to the Series 2024-GT1 Term Notes from PNMAC GMSR ISSUER TRUST, PennyMac Loan Services, LLC's (PLS) master trust issuer of notes backed by participation certificates evidencing participation interest in mortgage...

AM Best has commented that the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of "a-" (Excellent) of UnipolSai Assicurazioni S.p.A. (UnipolSai) (Italy) and its subsidiary, SIAT-Società Italiana Assicurazioni e...

KBRA assigns and publishes issuer and senior unsecured debt ratings of A- to Corient Holdings Inc. ("Corient" or "the firm"). On February 20, 2024, these ratings were assigned on an unpublished basis. The rating Outlook is Stable. The ratings are...

AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to "a" (Excellent) from "a-" (Excellent) of United Frontier Mutual Insurance Company (United Frontier) (Lockport, NY). The...

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 Independence Life and Annuity Company (Independence)...

AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term ICR of "bbb+" (Good) of PEMCO Mutual Insurance Company (PEMCO)...

AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a" (Excellent) of Fidelis Insurance Bermuda Limited (Fidelis) (Bermuda),...

KBRA assigns preliminary ratings to 6 classes of mortgage-backed notes from New Residential Mortgage Loan Trust 2024-NQM1 (NRMLT 2024-NQM1), a $281.9 million non-prime RMBS transaction sponsored by Rithm Capital Corp. (formerly New Residential...

AM Best has placed under review with negative implications the Financial Strength Rating of C++ (Marginal) and the Long-Term Issuer Credit Rating of "b" (Marginal) of Casualty Underwriters Insurance Company (CUIC) (Salt Lake City, UT). The Credit...

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" (Excellent) of Energas Insurance (L) Limited (Energas) (Malaysia). The outlook of these Credit Ratings (ratings) is negative. The...

KBRA assigns preliminary ratings to nine classes of mortgage certificates from Chase Home Lending Mortgage Trust 2024-RPL1 (CHASE 2024-RPL1). The pool comprises 2,475 seasoned, re-performing residential mortgages with an aggregate unpaid principal...

AM Best has placed under review with developing implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Consolidated National Insurance Company (CNIC) (Littleton, CO). The Credit...

KBRA assigns preliminary ratings to 6 classes of mortgage-backed certificates from Morgan Stanley Residential Mortgage Loan Trust 2024-NQM1 (MSRM 2024-NQM1), a $301.3 million non-prime RMBS transaction. The underlying collateral, comprising 662...

KBRA assigns preliminary ratings to four classes of notes issued by Research-Driven Pagaya Motor Asset Trust 2024-1 and Research-Driven Pagaya Motor Trust 2024-1 (collectively "RPM 2024-1"), an auto loan ABS transaction. RPM 2024-1 has initial credit...

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of "a-" (Excellent) to Relsure Vermont, Inc. (Relsure) (Burlington, VT). The outlook assigned to these Credit Ratings (ratings) is stable....

KBRA assigns preliminary rating to one class of notes issued by Kobalt Music Assets LP, Series 2024-1 (Kobalt 2024-1), a music royalty ABS transaction. Kobalt Music Assets LP (the Issuer) represents Kobalt Music Group's first music royalty...

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of "a+" (Excellent) of ReliaStar Life Insurance Company of New York (Woodbury, NY) and ReliaStar Life Insurance Company (Minneapolis, MN),...

AM Best has assigned a Financial Strength Rating of B++ (Good), a Long-Term Issuer Credit Rating of "bbb" (Good) and the Mexico National Scale Rating of "aa.MX" (Superior) to Fianzas Avanza S.A de C.V. (Fianzas Avanza) (Mexico City, Mexico). The...

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of "a" (Excellent) for the members of Mercury Casualty Group (Mercury). Concurrently, AM Best has affirmed the...

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 B++ (Good) and the Long-Term ICR of "bbb+" (Good) of California Earthquake Authority...