Bond & Stock Rating News

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to Series 2026-1 (Metronet 2026-1, or the Series 2026-1 Notes) from Metronet Infrastructure Issuer, LLC (the Issuer), a communications infrastructure securitization (CIS) that is primarily collateralized by fiber-to-the-premises (FTTP) networks and related contracts. Metronet 2026-1 represents MetroNet System Holdings, LLC’s (MetroNet’s, the Parent’s, or the Company’s) fifth KBRA-rated series, following the establishment of the master...

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to four classes of notes issued by Upstart Securitization Trust 2026-1 (“UPST 2026-1”), a $292.21 million consumer loan ABS securitization collateralized by unsecured consumer loans and auto secured personal loans. UPST 2026-1 represents the 49th ABS securitization collateralized by loans originated through the online platform operated by Upstart Network, Inc. (“Upstart” or the “Company”), a 100% owned subsidiary of the publicly traded...

LONDON--(BUSINESS WIRE)--KBRA UK (KBRA) assigns preliminary ratings to three classes of notes to be issued under the NewDay Partnership Master Trust (Master Trust), a UK credit card ABS programme backed by receivables originated by NewDay Ltd. (NewDay) and serviced by NewDay Cards Ltd. NewDay is a UK-based consumer credit provider established in 2001 and regulated by the Financial Conduct Authority. The Company provides credit products either directly to consumers or through relationships with...

LONDON--(BUSINESS WIRE)--AM Best has downgraded the Financial Strength Rating to C- (Weak) from C+ (Marginal) and the Long-Term Issuer Credit Rating to “ccc-” (Weak) from “b-” (Marginal) of Trust Insurance JSC (Trust Insurance) (Uzbekistan). The outlook of these Credit Ratings (ratings) is stable. Concurrently, AM Best has withdrawn these ratings as the company has requested to no longer participate in AM Best’s interactive rating process. The ratings reflect Trust Insurance’s balance sheet str...

SINGAPORE--(BUSINESS WIRE)--AM Best has commented that the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Guild Insurance Limited (GIL) (Australia) remain unchanged following the announcement of its new strategic partnership with EML Group, comprising Employers Mutual Limited and ASWIG Management Pty Ltd., as trustee for the ASWIG Management Trust, on behalf of its underlying investor shareholders. Under the terms of the transaction, wh...

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to 21 classes of mortgage-backed notes from RCKT Mortgage Trust 2026-CES3 (RCKT 2026-CES3). RCKT Mortgage Trust 2026-CES3 (RCKT 2026-CES3) is a $547.3 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 V LLC, and consists entirely of newly originated closed-end second lien mortgages (CES; 100.0%). The underlying poo...

NEW YORK--(BUSINESS WIRE)--KBRA assigns issuer and senior unsecured debt ratings of A- to Takeoff Merger Sub Inc. (“Merger Sub”), an entity which will merge with Air Lease Corporation (NYSE: AL or “Air Lease”, a global aircraft leasing company based in Los Angeles, California) and be renamed Sumisho Air Lease Corporation (“SALC” or the company). The rating Outlook is Stable. KBRA expects to assign an A- rating to the senior unsecured notes expected to be issued by Merger Sub. Upon close of the...

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) of the rated operating subsidiaries of James River Group Holdings, Inc. (Delaware) [NASDAQ: JRVR]. In addition, AM Best has affirmed the Long-Term ICR of “bbb-” (Good) of James River Group Holdings, Inc. The outlook of these Credit Ratings (ratings) is negative. (See below for a detailed listing of the subsidiaries...

NEW YORK--(BUSINESS WIRE)--KBRA releases research examining exposure to the Middle East in its rated universe of aviation ABS transactions. On February 28, 2026, the U.S. and Israel launched coordinated military strikes against Iranian leadership and strategic targets. In the days that followed, Iran and affiliated groups retaliated with missile and drone attacks in the region. The escalation has disrupted regional air travel, resulting in more than 20,000 flight cancellations and forcing the t...

NEW YORK--(BUSINESS WIRE)--KBRA assigns a long-term rating of A+ to the Pennsylvania Turnpike Commission Turnpike Subordinate Revenue Refunding Bonds, First Series of 2026 and Turnpike Subordinate Revenue Refunding Bonds, Second Series of 2026. KBRA additionally assigns a long-term rating of AA- to the Commission's Motor License Fund-Enhanced Turnpike Subordinate Special Revenue Refunding Bonds, First Series of 2026. The rating Outlook is Stable. Proceeds of the Turnpike Subordinate Revenue Ref...