Bond & Stock Rating News

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to five classes of notes issued by Foundation Finance Trust 2025-3 (“FFIN 2025-3”), an asset-backed securitization collateralized by unsecured consumer loans primarily used for home improvements. FFIN 2025-3 will issue five classes of notes totaling $437.49 million, collateralized by $441.91 million receivables. FFIN 2025-3 has initial credit enhancement levels ranging from 34.90% for the Class A notes to 1.50% for the Class E notes. C...

LONDON--(BUSINESS WIRE)--KBRA UK (KBRA) assigns preliminary ratings to six classes of notes and one of loan issued by Barings Euro Middle Market CLO 2025-1 DAC, a cash flow collateralized loan obligation (CLO) backed by a diversified portfolio of middle market corporate loans. This transaction is the first publicly rated, multicurrency European middle market CLO. Barings Euro Middle Market CLO 2025-1 DAC is managed by Barings (U.K.) Limited (“Barings” or the “collateral manager”) and will have...

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of B- (Fair) and the Long-Term Issuer Credit Ratings of “bb-” (Fair) of Rutgers Casualty Insurance Company and American European Insurance Company, which operate an intercompany reinsurance pooling agreement, and are collectively known as AEIG or the group. Both companies are domiciled in Cherry Hill, NJ. The outlook assigned to these Credit Ratings (rating...

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to three classes of notes issued by PowerPay Issuance Trust 2025-1 (“PowerPay 2025-1”), an asset-backed securitization collateralized by a pool of consumer loans used for home improvements and elective medical. This transaction represents PowerPay’s second 144A ABS securitization. PowerPay 2025-1 will issue four classes of notes totaling $556.1 million, which is expected to be collateralized by $564.5 million of consumer loans used for...

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Dallas Specialty Insurance Company (Dallas Specialty) (Dallas, TX). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect Dallas Specialty’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...

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to eight classes of mortgage-backed notes from BRAVO Residential Funding Trust 2025-NQM10 (BRAVO 2025-NQM10). The $344.5 million RMBS transaction is collateralized by a pool of 708 residential mortgages, with fixed-rate mortgages (FRMs) and hybrid adjustable-rate mortgages (ARMs) making up 99.1% and 0.9% of the pool, respectively. Most loans are either classified as non-qualified mortgages (Non-QM) (54.0%) or exempt (45.4%) from the Ab...

HONG KONG--(BUSINESS WIRE)--AM Best has assigned a Financial Strength Rating of A- (Excellent), a Long-Term Issuer Credit Rating of “a-” (Excellent) and the Indonesia National Scale Rating (NSR) of aaa.ID (Exceptional) to PT Lippo General Insurance Tbk (LGI) (Indonesia). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect LGI’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and a...

BRUSSELS--(BUSINESS WIRE)--Fitch Ratings has revised TITAN Group’s (Brussels:TITC) outlook to Positive from Stable and affirmed its Long-Term Issuer Default Rating (IDR) at ‘BB+’. This upgrade reflects growing confidence in TITAN’s financial strength, underpinned by continued gains in profitability, lower leverage, and a disciplined approach to capital management. In its report, Fitch highlights improved earnings and robust cash generation, which have reinforced the balance sheet and positioned...

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 Bank of China Group Insurance Company Limited (BOCG Insurance) (Hong Kong). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect BOCG Insurance’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk manageme...

NEW YORK--(BUSINESS WIRE)--KBRA assigns a long-term rating of AA to the Chicago Park District, IL General Obligation Limited Tax Park Bonds, Series 2025A and General Obligation Limited Tax Refunding Bonds, Series 2025B. KBRA additionally affirms the long-term rating of AA for the District's outstanding general obligation bonds. The rating Outlook is Stable. Key Credit Considerations The rating action reflects the following key credit considerations: Credit Positives Strong financial condition e...