Author Archives: Business Wire Bond/Stock Rating News

17 Aug

A.M. Best Affirms Credit Ratings of American Financial Group, Inc. and Most of Its Insurance Subsidiaries

OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” of Great American Insurance Company and its pooling affiliates, collectively referred to as Great American Insurance Companies (Great American). Concurrently, A.M. Best has affirmed the Long-Term ICR of “a-” and the Long-Term Issue Credit Ratings (Long-Term IR) of American Financial Group, Inc. (AFG) (Cincinnati, OH) [NYSE/N
17 Aug

A.M. Best Affirms Credit Ratings of Tokio Marine & Nichido Fire Insurance Co., Ltd. and Its U.S. Subsidiaries

HONG KONG--(BUSINESS WIRE)--A.M. Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa+” of Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF) (Japan) and its U.S. subsidiaries. The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of the companies.) A.M. Best also has affirmed the FSR of A+ (Superior) and the Long-Term ICR of “aa-” of Tokio Marine Pacific Insurance Limi
16 Aug

A.M. Best Downgrades and Withdraws Credit Ratings of Kanawha Insurance Company

OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has removed from under review with negative implications and downgraded the Financial Strength Rating to B (Fair) from B++ (Good) and the Long-Term Issuer Credit Rating to “bb+” from “bbb+” of Kanawha Insurance Company (Kanawha) (Lancaster, SC). The outlook assigned to these Credit Ratings (ratings) is stable. Concurrently, A.M. Best has withdrawn the ratings as the new parent company, HC2 Holdings, Inc. (HC2), has requested to no longer participate in
16 Aug

KBRA Assigns Preliminary Ratings to Prosper Marketplace Issuance Trust, Series 2018-2

NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by Prosper Marketplace Lending Issuance Trust 2018-2 (“PMIT 2018-2”). This is a $500.5 million consumer loan ABS transaction. This transaction represents the tenth securitization collateralized by unsecured consumer loans originated through the online marketplace lending platform operated by Prosper Funding LLC (“Prosper” or the “Company”). Founded in 2005, Prosper operates an
16 Aug

KBRA Assigns Preliminary Rating to Gracie Point International Premium Funding 2017-I, Series 2018-A Notes (Draw No. 2)

NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) assigns preliminary rating to the Series 2018-A, Class I Notes (Draw No. 2) issued by Gracie Point International Premium Funding 2017-I, Series 2018-A Notes (Draw No. 2). The rating listed below is for $14,497,000 of the Gracie Point International Premium Funding 2017-I, Series 2018-A Notes, Class I Notes draw number 2 (the “Draw No. 2 Notes”). In addition, the rating for the previously issued $13,905,000 Series 2018-A Notes, Class I No
14 Aug

A.M. Best Affirms Credit Ratings of National Western Life Insurance Company

OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” of National Western Life Insurance Company (NWLIC) (Centennial, CO). Concurrently, A.M. Best has affirmed the Long-Term ICR of “bbb” of National Western Life Group, Inc. (headquartered in Austin, TX) [NASDAQ:NWLI], the parent holding company of NWLIC. The outlook of these Credit Ratings (ratings) is stable. The ratings reflect NWLIC’
14 Aug

A.M. Best Affirms Credit Ratings of James River Group Holdings Ltd. and Subsidiaries; Assigns Credit Ratings to Carolina Re Ltd.

OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” of the rated operating subsidiaries of James River Group Holdings, Ltd. (JRG Holdings) [NASDAQ:JRVR]. In addition, A.M. Best has affirmed the Long-Term ICR of “bbb” of JRG Holdings. JRG Holdings is domiciled in Pembroke, Bermuda, while its subsidiaries are based in Pembroke, Richmond, VA, and Raleigh, NC. The outlook of these
14 Aug

A.M. Best affirme les notations de crédit de Covéa Coopérations

LONDRES--(BUSINESS WIRE)--A.M. Best a affirmé la notation de solidité financière de ”A” (Excellent) et la notation de crédit émetteur à long terme de ”a+” de Covéa Coopérations (France). La perspective de ces notations de crédit (notations) est stable. Les notations reflètent la force bilancielle de Covéa Coopérations, qu’A.M. Best considère comme étant au niveau le plus solide, ainsi que sa performance opérationnelle adéquate, son profil de marché favorable et sa gestion des risques d’entrepri
14 Aug

A.M. Best Downgrades Issuer Credit Rating of National Fire and Indemnity Exchange

OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” from “bbb+” and affirmed the Financial Strength Rating (FSR) of B++ (Good) of National Fire and Indemnity Exchange (NFIE) (St. Louis, MO). The outlook of the Long-Term ICR has been revised to stable from negative, while the outlook of the FSR remains stable. The Credit Ratings (ratings) reflect NFIE’s balance sheet strength, which A.M. Best categorizes as very strong, as well as
14 Aug

KBRA Releases a Primer on the Refi Student Loan ABS Market

NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) releases a refi student loan ABS primer entitled “An Education on Refi Student Loans ABS.” The report makes the following key points: Refi student loan lenders have increased their activity in the ABS primary market, issuing $5.2 billion of bonds in 2017, up 34% YoY. Refi SLABS now account for over one-third of all student loan issuance, with over $10.5 billion in outstanding paper. A typical refi borrower is of very high credit quality
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