Bond & Stock Rating News

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Dorinco Reinsurance Company (Dorinco) (Midland, MI), which is the captive reinsurance company of The Dow Chemical Company (Dow). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Dorinco’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral busi...

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has revised the outlook to positive from stable 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 National Unity Insurance Company (National Unity) (San Antonio, TX). The outlook of the FSR is stable. The Credit Ratings (ratings) reflect National Unity’s balance sheet strength, which AM Best assesses as adequate, as well as its strong operating per...

LONDON--(BUSINESS WIRE)--KBRA UK (KBRA) assigns preliminary ratings to seven classes of refinancing notes issued by RRE 1 Loan Management DAC, a cash flow collateralised loan obligation (CLO) backed primarily by a diversified portfolio of Euro-denominated corporate loans. RRE 1 Loan Management DAC is managed by Redding Ridge Asset Management (UK) LLP (“RRAM UK” or the“collateral manager”). The CLO originally closed in April 2019. KBRA rated this transaction when the CLO reset certain terms, inc...

OLDWICK, N.J.--(BUSINESS WIRE)--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 Repwest Insurance Company (Repwest) (Phoenix, AZ). The outlook of these Credit Ratings (ratings) is stable. Concurrently, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICRs of “a” (Excellent) of Oxford Life Insurance Company (Oxford Life) (Phoenix, AZ) and its subsidiary, Christian Fidelity Life...

NEW YORK--(BUSINESS WIRE)--KBRA assigns a rating of BBB to FS KKR Capital Corp.'s (NYSE: FSK or "the company") $400 million, 6.125% senior unsecured notes due January 15, 2031. The notes will be swapped for SOFR +274.75 bps. The rating Outlook is Stable. The proceeds will be used for general corporate purposes. Key Credit Considerations The rating is supported by FSK’s affiliation with KKR & Co.’s (“KKR”) $648 billion AUM investment platform, including its $261 billion credit platform (“KKR...

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” (Excellent) for the members of Ally Insurance Group (Ally Insurance). The members include Motors Insurance Corporation and its reinsured subsidiaries, MIC Property and Casualty Insurance Corporation and CIM Insurance Corporation, as well as an affiliate, Ally International Insurance Company Ltd. (AIICL). All companies are domiciled in Detroit, MI, ex...

DUBLIN--(BUSINESS WIRE)--KBRA releases research examining the structural and credit considerations of European football stadium financing amid evolving redevelopment and construction trends. Stadium financing has steadily evolved over the past century, with the complexity and scale of modern projects introducing new structural and credit considerations. Today’s developments often involve advanced financing methods, revenue-backed structures, and multipurpose venue strategies. In Europe, ageing...

NEW YORK--(BUSINESS WIRE)--KBRA assigns a BBB rating to North Haven Private Income Fund LLC's ("North Haven" or "the company" or "PIF") $300 million, 5.125% senior unsecured notes due in 2028. The rating Outlook is Stable. The proceeds will be used for general corporate purposes. Key Credit Considerations The ratings and Outlook are supported by North Haven's strong ties to the ~$1.6 trillion in assets under management and/or supervision of Morgan Stanley Asset Management. The company benefits...

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to eight classes of mortgage-backed notes from OBX 2025-NQM17 Trust, a $298.7 million non-prime RMBS transaction. The underlying collateral, comprising 541 residential mortgages, is characterized by fixed-rate mortgages (FRMs) and hybrid adjustable-rate mortgages (ARMs) making up 91.9% and 8.1% of the pool, respectively. A majority of the loans are either classified as non-qualified mortgages (Non-QM; 48.4%) or exempt (41.7%) from the...

SAN MATEO, Calif.--(BUSINESS WIRE)--Hercules Capital, Inc. (NYSE: HTGC) (“Hercules,” “Hercules Capital,” or the “Company”), the largest and leading specialty financing provider to innovative venture, growth and established stage companies backed by some of the leading and top-tier venture capital and select private equity firms, today announced that Moody’s Investors Service, Inc. (“Moody’s”) has upgraded Hercules’ investment grade credit and corporate rating to Baa2 with a revised outlook to s...