News by subject: Bond/Stock Rating

KBRA UK (KBRA) assigns preliminary ratings to Together Asset Backed Securitisation 2024-2ND1 PLC (TABS X) a static non-conforming RMBS securitisation backed predominantly by a portfolio of second lien mortgage loans. The mortgages were originated...

KBRA assigns preliminary ratings to 18 classes of Velocity Commercial Capital 2024-1 (VCC 2024-1) mortgagebacked certificates. VCC 2023-4 is a $221.1 million securitization collateralized by 530 small balance commercial loans secured by 582...

KBRA assigns a long-term rating of AA- to the Pennsylvania Turnpike Commission Turnpike Revenue Bonds, Series A of 2024. KBRA additionally affirms: The long-term rating of AA- for the Commission's outstanding Turnpike Revenue Bonds The...

KBRA releases research on the 2023 CMBS loan maturities. Nearly 94% of 2023 maturing CMBS loans paid off despite the negative headlines about the challenging commercial real estate (CRE) finance environment. The numbers appear less rosy by loan...

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Hong Leong Insurance (Asia) Limited (HLIA). The outlook of these Credit Ratings (ratings) is stable. The ratings...

KBRA assigns preliminary ratings to six classes of mortgage pass-through notes from GCAT 2024-NQM1 Trust, a $287.1 million non-prime RMBS transaction. The underlying collateral, comprising 613 residential mortgages, is characterized by a significant...

AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of "bb" (Fair) of Life Insurance Corporation (International) B.S.C. (c) (LICI) (Bahrain). The outlook of these Credit Ratings (ratings) is stable....

As more insurance markets transition to the IFRS 17 accounting standard, a new AM Best commentary addresses frequently asked questions about the rating agency's treatment of IFRS 17 data and clarifies how the accounting regime change is factored into...

KBRA assigns a long-term rating of AA+ with a Stable Outlook to the State of Illinois Build Illinois Bonds (Sales Tax Revenue Bonds), Junior Obligation Series A, B, and C of February 2024. KBRA additionally affirms the long-term rating of AA+ with a...

KBRA assigns preliminary ratings to six classes of mortgage-backed notes from OBX 2024-NQM1 Trust (OBX 2024-NQM1), a $413.6 million non-prime RMBS transaction. The underlying collateral, comprising 894 residential mortgages, is characterized by a...

Despite ongoing pressure from catastrophe-related and secondary peril losses, insurers within the U.S. property/casualty (P/C) industry have been able to bolster their bottom-line financial results by cutting underwriting expenses, according to a new...

KBRA releases a report comparing the credit metrics between the 2023 5-year and 10-year conduit deals. In 2023, the commercial real estate (CRE) securitization market offered 5-year fixed rate loans to borrowers hesitant to lock in longer-term...

KBRA assigns preliminary ratings to 55 classes of mortgage pass-through certificates from Sequoia Mortgage Trust 2024-1 (SEMT 2024-1), a $440.9 million prime RMBS transaction. The pool consists mainly of fully amortizing fixed rate mortgages with...

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of "a-" (Excellent) to Enel Erre S.p.A. (EE) (Italy). EE is a captive of Enel S.p.A. (Enel), a multinational electric utility company based in...

KBRA assigns a rating to the Class A Notes issued by White Rose CFO 2023 Holdings, LLC. The Notes are indirectly backed by limited partnership (LP) interests in five different White Rose Funds of Funds (the "White Rose Funds"), which in turn hold a...

AM Best has commented that the Performance Assessment (assessment) of PA-2 (Excellent) of Castel Underwriting Agencies Limited (Castel) (United Kingdom) and its subsidiary, Castel Underwriting Europe B.V. (Netherlands), is unchanged following its...

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 SILAC Insurance Company (SILAC) (Salt Lake City, UT). These Credit Ratings...

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "a-" (Excellent) of Harrington Re Ltd. (Harrington). AM Best also has affirmed the Long-Term ICR of "bbb-" (Good) of...

AM Best has assigned the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of "bb+ (Fair) to Berking Re Limited (Berking Re) (Bermuda). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect...

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a-" (Excellent) of Somers Re Ltd. (Bermuda) and its subsidiaries: Watford Insurance Company Europe Limited (Gibraltar);...

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of "a-" (Excellent) of Qatar Insurance Company Q.S.P.C. (QIC) (Qatar), and its subsidiary, Antares Reinsurance Company Limited (Antares Re)...

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "aa" (Superior) of Hannover Rück SE (Hannover Re) (Germany) and its main subsidiaries. AM Best also has affirmed the...

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 Delvag Versicherungs-AG (Delvag) (Germany). The outlook of these Credit Ratings...

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Colonnade Insurance S.A. (Colonnade) (Luxembourg), a member of the Fairfax Financial Holdings Limited (Fairfax) [TSX:...

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of "a-" (Excellent) to Federal Life Insurance Company (Fed Life) (Riverwoods, IL). The outlook assigned to these Credit ratings (ratings) is...

KBRA assigns the long-term rating of AA+ with a Stable Outlook to the Department of Water and Power of the City of Los Angeles (LADWP) Water System Revenue Bonds, 2024 Series A. Concurrently, KBRA affirms the long-term AA+ rating and Stable Outlook...

KBRA assigns preliminary ratings to 7 classes of Mortgage Participation Pass-Through Certificates from J.P. Morgan Mortgage Trust 2023-HE3 (JPMMT 2023-HE3), a $257.8 million RMBS transaction sponsored by J.P. Morgan Mortgage Acquisition Corp. and...

KBRA assigns a BBB rating to Blue Owl Technology Income Corporation's ("OTIC" or "the company") $75 million floating rate senior unsecured notes due January 15, 2027. The notes bear interest at a rate of SOFR +4.45%. The rating Outlook is Stable. The...

AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of "bbb+" (Good) to Sapphire Reinsurance Company (Sapphire) (Cayman Islands). The outlook assigned to 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 the U.S. life/health (L/H) subsidiaries of Aegon Ltd. (Bermuda) [NYSE: AEG]. Aegon Ltd.'s U.S. L/H companies are...

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 HDI Global Seguros, S.A. (HDI-GS) (Mexico). Concurrently, AM Best has affirmed the Mexico National...

AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of "aa-" (Superior) of HDI Haftpflichtverband der Deutschen Industrie V.a.G. (HDI V.a.G.) (Germany) and its rated insurance subsidiaries. The...

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 most of the rated operating subsidiaries of...

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) of Brighthouse Life Insurance Company (headquartered in Charlotte, NC), New England Life Insurance...

KBRA assigns a BBB rating to the Class A Notes, a BBB- rating to the Class B Notes, and a BB- rating to the Class C Notes (together, the "Notes") issued by Sagard Senior Lending Partners RN-U LP (the "Issuer", "Borrower", or "Partnership"). Proceeds...

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of "a-" (Excellent) of Spinnaker Insurance Company and its 100% reinsured subsidiaries, Spinnaker Specialty Insurance Company and Mainsail...

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 Ratings of "a" (Excellent) of IMT Insurance Company and its affiliate, Wadena Insurance Company....

AM Best has maintained its outlook on Malaysia's non-life insurance segment at stable, citing expectations of solid premium growth and the maintenance of underwriting and pricing discipline maintained amid the phased de-tariffication of motor and...

AM Best has downgraded the Financial Strength Rating to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Rating to "a-" (Excellent) from "a+" (Excellent) of Standard Life and Accident Insurance Company (SLAICO) (Galveston, TX)....

New York Life, America's largest mutual life insurer1, today announced that major ratings agencies Standard & Poor's, Fitch Ratings, A.M. Best, and Moody's Investors Service have all affirmed New York Life as maintaining the highest possible ratings...

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 Western Health Advantage (WHA) (Sacramento, CA). The outlook of the FSR has...

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

AM Best has assigned a Financial Strength Rating of A-(Excellent) and a Long-Term Issuer Credit Rating of "a-" (Excellent) to SteadPoint Insurance Company (SteadPoint) (Nashville, TN). The outlook assigned to these Credit Ratings (ratings) is stable....

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 Grupo Nacional Provincial S.A.B. (GNP) (Mexico City, Mexico)....

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Pacífico Compañía de Seguros y Reaseguros S.A. (PCS) (Lima, Perú). The outlook of these Credit Ratings (ratings) is...

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of "a" (Excellent) of Spirit Insurance Company (Spirit) (Colchester, VT) and Radius Insurance Company (Radius) (Cayman Islands). The outlook...

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of "a+" (Excellent) of Fontana Reinsurance Ltd. (Fontana Re). At the same time, AM Best has affirmed the FSR of A...

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb+" (Good) of Arab War Risks Insurance Syndicate (AWRIS) (Bahrain). 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 Qianhai Reinsurance Co., Ltd. (QHR) (China). The outlook of these Credit Ratings (ratings) is stable. The ratings...

KBRA publishes the long-term credit rating of A- assigned to Helios Underwriting plc's 9.5% fixed rate USD 75 million Series A Senior Unsecured Notes due December 15, 2030. The Outlook for the rating is Stable. On November 14, 2023, KBRA initially...