Bond & Stock Rating News

NEW YORK--(BUSINESS WIRE)--KBRA announces the assignment of preliminary ratings to three classes of BLP 2025-IND2, a CMBS single-borrower securitization. The collateral for the transaction will be a $620.0 million floating rate, interest-only mortgage loan. The loan is expected to have an initial two-year term with three, one-year extension options and require monthly interest-only payments. In addition to the first mortgage there will be $132.0 million of mezzanine debt. The loan is secured by...

NEW YORK--(BUSINESS WIRE)--KBRA removed from Watch Developing and affirmed the A- insurance financial strength ratings (IFSRs) of S.USA Life Insurance Company, Inc., National Western Life Insurance Company, SBLI USA Life Insurance Company, Shenandoah Life Insurance Company, and Prosperity Life Assurance Limited with Stable Outlooks. KBRA assigned a BBB- Issuer rating to JAB Holdings UK Ltd. with a Stable Outlook. The BBB- Issuer rating of Prosperity Group Holdings, LP (PGH) was removed from Wat...

NEW YORK--(BUSINESS WIRE)--KBRA assigns a preliminary rating to one series of notes issued by MP 2023 LLC, Series 2025-1, an inland marine vessel lease ABS transaction. MP 2023 LLC, Series 2025-1 is Maritime Partners’ second ABS securitization comprised entirely of inland marine vessels. The transaction structure is a master trust, and as such, the indenture permits the issuance of additional classes and series of notes. The Series 2025-1 Notes represents the Issuer’s second issuance from MP 20...

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to eight classes of notes issued by SCF Equipment Leasing 2025-2 LLC and SCF Equipment Leasing Canada 2025-2 Limited Partnership (collectively SCF 2025-2), an equipment ABS transaction. SCF 2025-2 represents the 14th equipment ABS transaction sponsored by Stonebriar Commercial Finance LLC (SCF or the Company). Additionally, SCF services the Granite Park 2023-1 transaction, which is an equipment ABS backed by collateral originated and s...

NEW YORK--(BUSINESS WIRE)--KBRA releases its latest 12 Things in Credit report, highlighting timely credit market themes drawn from our weekly podcast, 3 Things in Credit, hosted by KBRA’s Chief Strategist, Van Hesser. Among the wide-ranging topics Van discusses in this issue are the significance of plunging consumer sentiment surveys, the read-across value of GM’s upbeat earnings release, and whether high profile credit deterioration signals a turn in the credit cycle. Each Friday, the podcast...

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to 70 classes of mortgage pass-through certificates from Sequoia Mortgage Trust 2025-12 (SEMT 2025-12), a $663.5 million prime RMBS transaction. The pool is comprised of 525 first-lien, fully amortizing fixed rate mortgages with 30-year maturity terms. The collateral is characterized by a weighted average (WA) original credit score of 774 and moderate borrower equity, with a WA original LTV of 73.0% and WA original CLTV of 73.0%. KBRA’...

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B (Fair) and the Long-Term ICR of “bb” (Fair) of Tower Bonding and Surety Co., Inc. (Tower Bonding) (San Juan, PR). The outlook of the FSR is stable. The Credit Ratings (ratings) reflect Tower Bonding’s balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating perform...

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) of Shenandoah Life Insurance Company (Roanoke, VA), SBLI USA Life Insurance Company, Inc. (New York, NY), Prosperity Life Assurance Limited (Bermuda) and S.USA Life Insurance Company, Inc. (Phoenix, AZ), following their completed acquisition by JAB Holding...

NEW YORK--(BUSINESS WIRE)--KBRA assigns a senior unsecured debt rating of BBB, a subordinated debt rating of BBB-, and a short-term debt rating of K3 to Kansas City, Missouri based Dickinson Financial Corporation II ("Dickinson", "the company", or "DFCII") and intermediate holding company Dickinson Financial Corporation ("DFC"). In addition, KBRA assigns deposit and senior unsecured debt ratings of BBB+ and short-term deposit and debt ratings of K2 to its subsidiaries, Academy Bank, N.A. ("AB")...

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to two classes of notes issued by AMDR Trust 2025-1(“AMDR 2025-1”), an ABS transaction collateralized by a pool of debt settlement (“DS”) fees associated with enrolled debts from a static pool of DS customers. AMDR 2025-1 will issue two classes of notes totaling $153.15 million. The transaction benefits from credit enhancement levels that are sufficient to withstand KBRA’s rating stresses. Credit enhancement is comprised of overcollate...