Bond & Stock Rating News

NEW YORK--(BUSINESS WIRE)--KBRA assigns an issuer rating of BBB to The Fortegra Group, Inc. (TFG or Fortegra) and assigns an insurance financial strength rating (IFSR) of A- to Fortegra Specialty Insurance Company. At the same time, KBRA is affirming and withdrawing the BBB issuer rating for Fortegra Financial Corporation. In addition, KBRA affirms the A- IFSRs for the key U.S. insurance subsidiaries of The Fortegra Group, Inc.: Lyndon Southern Insurance Company; Insurance Company of the South;...

NEW YORK--(BUSINESS WIRE)--In an 8-K filing with the Securities and Exchange Commission on May 29, 2025, Sunnova Energy Corporation (Sunnova) disclosed that it had amended its Loan Guarantee Agreement with the U.S. Department of Energy (DOE) on May 22, 2025. The amendment reduced the maximum aggregate amount of partial guarantees from $3.0 billion to $371.6 million. This is equal to the total partial guarantees previously issued for Sunnova's two solar loan ABS transactions under Project Hestia...

NEW YORK--(BUSINESS WIRE)--KBRA assigns an 'A-' rating to the Senior Loans, 'BBB-' rating to the Mezzanine Loans and 'B-' rating to the Junior Loans (together, the "Rated Loans") issued by Keys Investor II, LLC (the "Issuer" or "SPV") legally owned and controlled by Oceanview US Holdings ("OVUSH"). The outlook on each class of Rated Loans is 'Stable'. The total issuance amount, inclusive of the Subordinated Notes, is $150.0 million, with initial advance rates of 55.5%, 73.0% and 90.0% for the S...

MEXICO CITY--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Nacional de Seguros S.A. Compañía de Seguros Generales (Nacional de Seguros) (Bogota, Colombia). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Nacional de Seguros’ balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate...

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “aa” (Superior) to the $1 billion, 6.17% surplus notes, due 2055, issued by The Northwestern Mutual Life Insurance Company (Northwestern Mutual) (Milwaukee, WI). The outlook assigned to this Credit Rating (rating) is stable. The proceeds from the surplus notes offering will be used for general corporate purposes. The newly issued surplus notes will remain subordinated to policyowner liabilitie...

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has placed under review with developing implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of Insurance Corporation of Barbados Limited (ICBL) Barbados. These Credit Ratings (ratings) actions are due to delays in AM Best receiving audited financial statements from ICBL for year-end 2023. The company has provided unaudited statements for 2023, and internal management reports for the balance shee...

MEXICO CITY--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Instituto Nacional de Seguros (INS) (San Jose, Costa Rica). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect INS’ balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management (ERM). INS’ risk-adjuste...

NEW YORK--(BUSINESS WIRE)--KBRA releases a report on U.S. commercial mortgage-backed securities (CMBS) loan performance trends observed in the May 2025 servicer reporting period. The delinquency rate among KBRA-rated U.S. private label CMBS in May increased to 7.4% from 7.1% in April. The total delinquent plus current but specially serviced loan rate (collectively, the distress rate) increased 85 basis points (bps) to 10.9%. Office and mixed-use sectors saw significant increases to their distre...

HONG KONG--(BUSINESS WIRE)--AM Best has withdrawn the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Tugu Insurance Company Limited (TIC) (Hong Kong). At the time of the withdrawal, the outlook of these Credit Ratings (ratings) is stable. The rating withdrawals follow TIC's request due to its strategic decision to discontinue its participation in AM Best's interactive rating process. AM Best’s procedure is for a final rating opinion to be produ...

HONG KONG--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of FuSure Reinsurance Company Limited (FuSure) (Hong Kong). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect FuSure’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The ratings also r...