Bond & Stock Rating News

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to six classes of mortgage pass-through notes from GCAT 2025-NQM1 Trust, a $438.2 million non-prime RMBS transaction. The underlying collateral, comprising 764 residential mortgages, is characterized by a significant concentration of loans underwritten using alternative income documentation. Borrowers in the subject pool possess a non-zero WA original credit score of 756 and exhibit modest equity in each mortgaged property, with WA LTV...

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to four classes of notes (the “Notes”) issued by Kapitus Asset Securitization V LLC, Series 2025-1. Kapitus, formerly known as Strategic Funding Source, Inc. (“Kapitus” or the “Company”), was founded in 2006 and provides financing to small and medium-sized businesses through the use of proprietary risk scoring models, transactional data and technology systems. Since 2014, Kapitus has received financial support from Pine Brook Partners,...

LONDON--(BUSINESS WIRE)--AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) of the rated operating subsidiaries of SiriusPoint Ltd. (SiriusPoint) (Bermuda) [NYSE: SPNT]. Additionally, AM Best has affirmed the Long-Term ICR of “bbb-” (Good) of SiriusPoint, which is a non-operating holding company. (See below for a detailed listing of the companies and Cre...

NEW YORK--(BUSINESS WIRE)--KBRA releases a report examining the stability and transition patterns of our ratings over 1-year, 3-year, 5-year, and lifetime time horizons between 2011 and 2024. The ratings universe used in this study includes both published and unpublished long-term credit ratings (LTCR) assigned across all geographical regions, which are assigned to issuers, transactions, and securities using the same rating scale. Key Takeaways KBRA’s ratings have generally performed in accorda...

NEW YORK--(BUSINESS WIRE)--KBRA assigns a preliminary rating to the Class A Notes issued by MPOWER Education Trust 2025-A (“MPOWER 2025-A”), an asset-backed securitization collateralized by private education loans made to international students attending schools in the United States. MPOWER 2025-A is the second securitization of MPOWER Financing, Public Benefit Corporation (“MPOWER”). MPOWER issued its inaugural securitization in 2024. The transaction is a term ABS securitization collateralized...

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has revised outlooks to stable from positive and affirmed the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb-” (Good) and the associated Long-Term Issue Credit Ratings (Long-Term IR) of Argo Group International Holdings, Inc. (Argo Group) (headquartered in New York, NY). In addition, AM Best has revised the outlooks to stable from positive and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term ICRs of “a-” (Excellent)...

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) of Sagicor Reinsurance Bermuda Ltd. (SRBL) (Bermuda). In addition, AM Best has affirmed the FSR of B++ (Good) and the Long-Term ICR of “bbb+” (Good) of Sagicor Life Jamaica Limited (SLJ) (Kingston, Jamaica). The outlook of these Credit Ratings (ratings) is stable. The ratings of SRBL reflect its balance sheet streng...

LONDON--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of B++ (Good), the Long-Term Issuer Credit Rating of “bbb” (Good) and the Egypt National Scale Rating (NSR) of aaa.EG (Exceptional) of Misr Insurance Company (MIC) (Egypt). The outlook of these Credit Ratings (ratings) is stable. MIC is the non-life insurance subsidiary of Misr Insurance Holding Company (MIHC). The ratings reflect MIC’s balance sheet strength, which AM Best assesses as very strong, as well as its adequa...

LONDON--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of B++ (Good), the Long-Term Issuer Credit Rating of “bbb” (Good) and the Egypt National Scale Rating (NSR) of aaa.EG (Exceptional) of Misr Life Insurance Company (MLIC) (Egypt). The outlook of these Credit Ratings (ratings) is stable. MLIC is the life insurance subsidiary of Misr Insurance Holding Company (MIHC). The ratings reflect MLIC’s balance sheet strength, which AM Best assesses as strong, as well as its strong...

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating (FSR) of B (Fair) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “bb+” (Fair) of Germania Farm Mutual Insurance Association and its subsidiaries: Germania Fire & Casualty Company, Germania Insurance Company and Germania Select Insurance Company. Collectively, these companies comprise Germania Mutual Group (Germania). Concurrently, AM Best ha...