Bond & Stock Rating News

NEW YORK--(BUSINESS WIRE)--KBRA is assigning preliminary ratings to the Series 2025-1 Class A-2 Notes, Class B Notes, and Class C Notes (the Series 2025-1 Notes) from ALLO Issuer, LLC, (the Issuer), a communications infrastructure securitization. ALLO 2025-1 represents ALLO Issuer, LLC’s (the Issuer) third securitization following the initial Series 2023-1 Notes. The transaction structure is a master trust, and as such, the indenture permits the issuance of additional classes and series of note...

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best’s Dawn Walker appears as a guest in an episode of the Insurance Uncut podcast, which highlights leading issues impacting the insurance industry, to discuss the state of the delegated underwriting authority enterprise (DUAE) segment and the credit rating agency’s recent survey of rated carriers on the DUAE segment’s growth potential. During the episode, Walker, associate director, Industry Relations – DUAE, talks about the leading trends shaping the DUAE m...

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to 8 classes of mortgage-backed notes from New Residential Mortgage Loan Trust 2025-NQM2 (NRMLT 2025-NQM2), a $325.7 million non-prime RMBS transaction sponsored by Rithm Capital Corp. (formerly New Residential Investment Corp.), a publicly traded (NYSE: RITM) real estate investment trust (REIT). The underlying mortgages in the subject pool were originated by Champions Funding, LLC (43.5%) and NewRez LLC (41.5%). In addition, all loans...

LONDON--(BUSINESS WIRE)--KBRA UK (KBRA) assigns preliminary ratings to six classes of refinancing notes issued by RRE 8 Loan Management DAC, a cash flow collateralised loan obligation (CLO) backed primarily by a diversified portfolio of Euro-denominated corporate loans. RRE 8 Loan Management DAC is managed by Redding Ridge Asset Management (UK) LLP (“RRAM UK” or the “collateral manager”). The CLO originally closed in September 2021. This transaction will reset the terms of the CLO, including th...

LONDON--(BUSINESS WIRE)--KBRA UK (KBRA) assigns preliminary ratings to six classes of refinancing notes issued by RRE 9 Loan Management DAC, a cash flow collateralised loan obligation (CLO) backed primarily by a diversified portfolio of Euro-denominated corporate loans. RRE 9 Loan Management DAC is managed by Redding Ridge Asset Management (UK) LLP (“RRAM UK” or the “collateral manager”). The CLO originally closed in October 2021. This transaction will reset the terms of the CLO, including the...

LONDON--(BUSINESS WIRE)--KBRA UK (KBRA) assigns preliminary ratings to six classes of refinancing notes issued by RRE 7 Loan Management DAC, a cash flow collateralised loan obligation (CLO) backed primarily by a diversified portfolio of Euro-denominated corporate loans. RRE 7 Loan Management DAC is managed by Redding Ridge Asset Management (UK) LLP (“RRAM UK” or the “collateral manager”). The CLO originally closed in September 2021. This transaction will reset the terms of the CLO, including th...

LONDON--(BUSINESS WIRE)--AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to IQUW Re Bermuda Limited (IQUW Re) (Bermuda). IQUW Re is a wholly owned subsidiary of IQUW Holdings Bermuda Limited (IQUW), the ultimate holding company of the IQUW group. In addition, AM Best has assigned a Long-Term Issue Credit Rating of “bbb-” (Good) on $170 million senior unsecured notes, due 2035, issued by IQUW. The outlook assigned to the...

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to 9 classes of mortgage-backed certificates from J.P. Morgan Mortgage Trust 2025-NQM1 (JPMMT 2025-NQM1). JPMMT 2025-NQM1 is an RMBS transaction sponsored by JPMorgan Chase Bank, National Association and includes a meaningful concentration of collateral that KBRA considers to be “non-prime.” The $332.6 million RMBS transaction is collateralized by a pool of 616 residential mortgages, with fixed-rate mortgages (FRMs) and hybrid adjustab...

DUBLIN--(BUSINESS WIRE)--KBRA Europe (KBRA) assigns preliminary ratings to six classes of notes to be issued by Kinbane 2025-RPL 1 DAC (Kinbane 2025-1), a static RMBS securitisation collateralised by predominantly reperforming Irish mortgage loans. As of 30 November 2024, the underlying collateral is a €430.2 million portfolio consisting of seasoned first lien performing and reperforming mortgages. These mortgages are largely secured by owner-occupied properties (78.2%) and buy-to-let propertie...

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to four classes of debt issued by the reset of VCP RRL ABS II, LLC (VCP-II-R), a securitization backed by a portfolio of recurring revenue and middle market corporate loans. VCP-II-R is an approximate $550.0 million securitization managed by Vista Credit Partners, L.P. (“VCP” or the “Collateral Manager”), an investment adviser and affiliate of Vista Equity Partners (collectively, with these affiliates and other funds managed by them an...