Bond & Stock Rating News

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to 20 classes of mortgage-backed notes from RCKT Mortgage Trust 2026-CES7 (RCKT 2026-CES7). RCKT Mortgage Trust 2026-CES7 (RCKT 2026-CES7) is a $549.9 million RMBS transaction, as of the cut-off date, sponsored by Woodward Capital Management LLC, a wholly owned affiliate of Rocket Mortgage, LLC, and Loan Funding Structure LLC, and consists entirely of newly originated closed-end second lien mortgages (CES; 100.0%). The underlying pool...

NEW YORK--(BUSINESS WIRE)--KBRA assigns a long-term rating of AA- to the City of Austin, TX Senior Lien Special Tax Revenue Bonds, Series 2026A (Convention Center Project) and A+ to the City's Junior Lien Special Tax Revenue Bonds, Series 2026B (Convention Center Project). The rating Outlook is Stable. Key Credit Considerations The ratings were assigned because of the following key credit considerations: Credit Positives Rapidly growing Austin area economy provides strong basis for growth in pl...

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to 13 classes of notes issued by Pagaya AI Debt Grantor Trust 2026-5 and Pagaya AI Debt Trust 2026-5, collectively “PAID 2026-5,” an unsecured consumer loan ABS transaction. PAID 2026-5 has initial hard credit enhancement levels ranging from 85.90% for the Class A-1 Notes to 3.44% for the Class F-2 Notes. Credit enhancement is comprised of overcollateralization, subordination, except for the Class F-2 Notes, cash reserve accounts funde...

OLDWICK, N.J.--(BUSINESS WIRE)--In the July issue, Best’s Review examines top insurers and the people who lead them. This includes a look at the Top 20 Global Insurance Brokers ranked by total 2025 revenue. Consistency was the theme in this year’s list as the top company retained its title for the 16th consecutive year. Another insurer’s recent acquisition vaulted it up two spots, from seventh to fifth. Read more in “Top Global Insurance Brokers – 2026 Edition.” Best’s Review is AM Best’s month...

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has launched a new subscription for the Best's Capital Adequacy Ratio (BCAR) Model product, offering access to a capital model for life insurers. “We are excited to expand the BCAR Model product line,” said Adriana Franco, vice president of product strategy at AM Best. “This new subscription option helps customers assess risk-adjusted capitalization levels under changing conditions for life insurance companies. “Best's Capital Adequacy Ratio Model – Life,...

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to WoodStar Reciprocal Exchange (WoodStar) (Little Rock, AR). In addition, AM Best has assigned a Long-Term Issue Credit Rating of “bbb” (Good) to the $220 million, 9.5% fixed surplus notes, due 2041, issued by WoodStar. The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect WoodStar’s balance sheet strength, w...

NEW YORK--(BUSINESS WIRE)--KBRA releases research analyzing the 21st Century ROAD to Housing Act, which became federal law on July 11. The act, which is intended to address the nation’s housing shortage and affordability, is expected to have a variety of impacts on the housing sector, including institutional single-family rentals (SFR). Earlier this year, KBRA discussed the potential implications of a prior version of the bill (see Institutional SFR Ownership Limits Could Slow Sector Growth). W...

NEW YORK--(BUSINESS WIRE)--KBRA releases research examining trends across the net asset value (NAV) landscape. Record KBRA-rated NAV issuance in 2025, followed by continued deal activity in 2026, underscores the evolution of NAV lending from a niche liquidity tool into an established component of fund finance. Broader sponsor and lender adoption has supported standardization, expanded market participation, and encouraged new structures that continue to adapt to shifting general partner needs wh...

NEW YORK--(BUSINESS WIRE)--KBRA assigns a long-term rating of AAA to the Texas Transportation Commission State of Texas General Obligation Mobility Fund and Refunding Bonds, Series 2026-A and State of Texas General Obligation Mobility Fund Put Bonds, Series 2026-B (Multiannual Mode). KBRA additionally affirms the long-term rating of AAA for the Commission's State of Texas Highway Improvement General Obligation Bonds and State of Texas General Obligation Mobility Fund Bonds as well as the State'...

OLDWICK, N.J.--(BUSINESS WIRE)--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 New Era Life Insurance Company, New Era Life Insurance Company of the Midwest and Philadelphia American Life Insurance Company, which are referred to as New Era Group (Houston, TX). The ratings reflect New Era Group’s balance sheet strength, which AM Best assesses as strong, as well as...