NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) announced today rapid growth in its structured finance ratings business, especially commercial mortgage-backed securities (CMBS), during 2013.
According to Commercial Mortgage Alert, KBRA ranked third among all rating agencies for the most CMBS transactions rated in 2013, capturing 46% of global CMBS market share ($45.14 Billion in issuance), a significant increase from KBRA’s 2012 share of 40%. The firm ranked second overall with a 70% market penetration for conduits in the U.S., ahead of both Fitch and S&P. KBRA will soon assign ratings to its 100th CMBS transaction. The rise in KBRA CMBS market share is noteworthy as the agency assigned its inaugural rating in July 2011, a mere 2.5 years ago.
"2013 was a terrific year for KBRA. We continue to succeed by executing on our strategic plan to reform the industry by providing investors with the most comprehensive research available,” said Jim Nadler, President and Chief Operating Officer, KBRA. “Investors have come to appreciate and demand our higher quality and more in-depth reports and the timeliness with which we deliver them,” added Kim Diamond, Senior Managing Director and Head of Structured Finance. “Our team of seasoned analysts is selected based on their experience, capability and sophistication, especially for the most complex transactions. With our clear methodologies and consistent approach, we are continuing to earn market acceptance.”
Asset Backed-Alert reported this month that KBRA posted triple-digit market share gains in both ABS and MBS, while all the big three players declined. KBRA grabbed 5.5% of issuance, up from just 1.1% in 2012. The firm ranked fourth in MBS deals with $7.9 billion for 2013.
Since its establishment KBRA has rated over 200 issuers and transactions. These ratings include rating assignments to over $140 billion in structured finance, project finance and municipal debt.
About Kroll Bond Rating Agency
With more than 100 employees, Kroll Bond Rating Agency, Inc. (www.krollbondratings.com) is registered with the SEC as a nationally recognized statistical rating organization (NRSRO). Kroll Bond Rating Agency was established in 2010 to restore trust in credit ratings by establishing new standards for assessing risk and by offering accurate, clear, and transparent ratings. KBRA was designated as a Credit Rating Provider (CRP). KBRA ownership is made up of institutional and individual investors.