Bond & Stock Rating News

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to 74 classes of mortgage pass-through certificates from Sequoia Mortgage Trust 2026-INV3 (SEMT 2026-INV3). The transaction consists of 1,275 mortgages with an aggregate principal balance of $507.1 million as of the May 1, 2026 cut-off date. The collateral is characterized by a weighted average (WA) original credit score of 768 and moderate borrower equity, with a WA original LTV and WA original CLTV of 70.9%. KBRA’s rating approach in...

NEW YORK--(BUSINESS WIRE)--As widely reported and stated by several of the company’s investors, creditors will likely be taking control of Medallia, Inc. following several years of performance headwinds and the sponsor’s decision not to provide additional equity. Although this represents one of the larger term loans in the direct lending market—at nearly $3 billion—we conclude that KBRA-rated vehicles with exposure, as well as the broader direct lending market, are well positioned to absorb any...

OLDWICK, N.J.--(BUSINESS WIRE)--The return-on-equity for U.S. property/casualty (P/C) insurers reached a decade high level of 14.97% in 2025, while the cost of equity held relatively steady at 8.18%, according to a new AM Best report. Last year started with an early challenge for P/C insurers as the California wildfires caused extensive damage in January. Fortunately, a relatively benign hurricane season alleviated potential pressure on underwriting losses over the balance of the year. The medi...

AMSTERDAM--(BUSINESS WIRE)--AM Best has maintained its stable outlook on Italy's non-life insurance segment and expects gross written premium (GWP) in the segment to continue on a steady growth trend during 2026 across all lines of business, although at a slower pace than in recent years. In its new Best’s Market Segment Report, “Market Segment Outlook: Italy Non-Life Insurance”, AM Best also states that the additional fiscal burden from the 2026 Budget Law will not place significant pressure o...

NEW YORK--(BUSINESS WIRE)--KBRA assigns a long-term rating of AA+ to the Harris County Hospital District's, TX (the "District") Series 2026, Limited Tax and Refunding Bonds. Concurrently, KBRA affirms the long-term AA+ rating for outstanding limited tax bonds. The Rating Outlook is Stable. Key Credit Considerations The rating actions reflect the following key credit considerations: Credit Positives A growing tax base continues to generate strong property tax revenues for the District, thus supp...

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to 20 classes of mortgage-backed notes from RCKT Mortgage Trust 2026-CES5 (RCKT 2026-CES5). RCKT Mortgage Trust 2026-CES5 (RCKT 2026-CES5) is a $545.2 million RMBS transaction, as of the cut-off date, sponsored by Woodward Capital Management LLC, a wholly owned affiliate of Rocket Mortgage, LLC, and Canyon RB1-26 Holdings, LP, and consists entirely of newly originated closed-end second lien mortgages (CES; 100.0%). The underlying pool...

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of the life/health insurance subsidiaries of Prudential Financial, Inc. (PFI) (Newark, NJ) [NYSE: PRU], collectively referred to as Prudential. Concurrently, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) of PFI and all Long- and Short-Term Issue Credit Ratings (Long-Term IR; Short-Term IR) of the group....

NEW YORK--(BUSINESS WIRE)--KBRA is pleased to announce the assignment of preliminary ratings to nine classes of BSPDF 2026-FL4, a managed CRE CLO securitization with the ability to reinvest principal proceeds for 30 months including a 90-day ramp-up period. The transaction will initially be collateralized by 59 mortgage loans with an aggregate cutoff date in-trust balance of $1.2 billion and $47.2 million of cash collateral for the anticipated acquisition of two pre-identified delayed acquisiti...

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has maintained the under review with developing implications status for the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of TruSpire Retirement Insurance Company (TruSpire) (Irving, TX). Malibu Life Holdings Limited announced on Oct. 14, 2025, that it has entered into a definitive agreement to acquire TruSpire, which is licensed in 44 states and holds licenses for fixed-index annuity products. TruSpire ha...

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to five classes of notes issued by Reach ABS Trust 2026-2 (“Reach 2026-2”), an unsecured consumer loan ABS transaction. Credit enhancement consists of overcollateralization, subordination of junior note classes (except for the Class E notes), a cash reserve account funded at closing, and excess spread. This transaction represents Reach Financial, LLC’s (“Reach”, the “Servicer” or the “Company”) second term ABS securitization in 2026 an...