Author Archives: Business Wire Bond/Stock Rating News

19 Oct

A.M. Best Affirms Credit Ratings of Core Traditional Business Subsidiaries of Grupo Catalana Occidente, S.A.

LONDON--(BUSINESS WIRE)--A.M. Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” of Seguros Catalana Occidente, S.A. de Seguros y Reaseguros (SCO) (Spain), Bilbao, Compañía Anónima de Seguros y Reaseguros, S.A. (SB) (Spain) and Plus Ultra Seguros Generales y Vida, S.A. de Seguros y Reaseguros (PU) (Spain). All three companies are wholly owned subsidiaries of Grupo Catalana Occidente, S.A. (GCO), the non-operating holding company of t
19 Oct

A.M. Best Upgrades Issuer Credit Ratings of Main Operating Subsidiaries of Atradius N.V.

LONDON--(BUSINESS WIRE)--A.M. Best has upgraded the Long-Term Issuer Credit Ratings (Long-Term ICRs) to “a+” from “a” and affirmed the Financial Strength Rating of A (Excellent) of Atradius Crédito y Caución S.A. de Seguros y Reaseguros (ACyC) (Spain), Atradius Reinsurance Designated Activity Company (ARe) (Ireland), Atradius Trade Credit Insurance, Inc. (ATCI) (U.S.) and Atradius Seguros de Crédito, S.A. (Atradius Mexico) (Mexico). Concurrently, A.M. Best has upgraded the Long-Term Issue Credi
18 Oct

A.M. Best Comments on Credit Ratings of Massachusetts Mutual Life Insurance Company Following Sale of OppenheimerFunds to Invesco

OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has commented that the Credit Ratings (ratings) of Massachusetts Mutual Life Insurance Company (MassMutual) (Springfield, MA) remain unchanged following the Oct. 18, 2018, announcement that it has entered into an agreement to sell Oppenheimer Funds, Inc. (OppenheimerFunds) to Invesco. The Financial Strength Rating of A++ (Superior) and the Long-Term ICRs of “aa+” for MassMutual and its operating insurance subsidiaries also are unchanged following the an
18 Oct

A.M. Best Revises Outlooks to Positive for MetLife, Inc.’s Property/Casualty Subsidiaries; Affirms Credit Ratings of MetLife, Inc. and Its Life/Health Subsidiaries

OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a+” of MetLife’s Property and Casualty companies, consisting of Metropolitan Property and Casualty Insurance Company and seven fully reinsured subsidiaries, as well as Metropolitan Group Property and Casualty Insurance Company (both domiciled in Warwick, RI) (collectively referred
18 Oct

KBRA Releases Rating Report for the MTA Transportation Revenue Variable Rate Bonds

NEW YORK--(BUSINESS WIRE)--On October 17, 2018, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AA+ with a Stable Outlook to the Metropolitan Transportation Revenue Variable Rate Refunding Bonds, Subseries 2002G-1f (LIBOR FRTN) and Transportation Revenue Variable Rate Bonds, Subseries 2005D-1 (LIBOR FRTN). Concurrently, KBRA affirmed the long-term rating of AA+ with a Stable Outlook on MTA’s outstanding Transportation Revenue Bonds. KBRA also affirmed the short-term rating on MTA
18 Oct

KBRA Releases Rating Report for the City of LA Wastewater System Subordinate Revenue Bonds, Series 2018-A and B

NEW YORK--(BUSINESS WIRE)--On October 16, 2018, Kroll Bond Rating Agency, (KBRA) assigned a long-term rating of AA with a Stable Outlook to the City of Los Angeles Wastewater System Subordinate Revenue Bonds, Series 2018-A (Green Bonds) and Wastewater System Subordinate Revenue Bonds, Refunding Series 2018-B. Issuer: City of Los Angeles, CA Assigned             Ratings   Outlook Wastewater System Subordinate Revenue Bonds,Series 2018-A (Green Bonds)   AA   Stable Wastewater System Subordinate R
17 Oct

KBRA Preliminary Ratings to Veros Auto Receivables Trust 2018-1

NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four classes of notes for Veros Auto Receivables Trust 2018-1 (“VEROS 2018-1”), an auto loan ABS transaction. Veros Credit LLC will issue four classes of notes for the VEROS 2018-1 transaction totaling $183.060 million that are collateralized by a trust certificate backed by a pool of subprime automobile loan contracts, secured mostly by used vehicles. Veros Credit LLC is a California based automobile fina
17 Oct

A.M. Best Affirms Credit Ratings of Marble Reinsurance Corporation

HONG KONG--(BUSINESS WIRE)--A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Marble Reinsurance Corporation (Marble Re) (Micronesia). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Marble Re’s balance sheet strength, which A.M. Best categorizes as strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. Marble Re's strong balance
17 Oct

KBRA Assigns Preliminary Ratings to Upgrade Receivables Trust 2018-1

NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four classes of notes issued by Upgrade Receivables Trust 2018-1 (“UPGR 2018-1”). This is a $286.390 million consumer loan ABS transaction that is expected to close October 30, 2018. This transaction represents the first ABS securitization collateralized by unsecured consumer loans originated through the online marketplace lending platform operated by Upgrade, Inc. (“Upgrade”) and the first from the Upgrad
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