Bond & Stock Rating News

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has downgraded the Financial Strength Rating to B- (Fair) from B++ (Good) and the Long-Term Issuer Credit Rating to “bb-” (Fair) from “bbb+” (Good) of Cadence Indemnity Inc. (Cadence) (Texas). Additionally, AM Best has placed these Credit Ratings (ratings) under review with negative implications. Concurrently, AM Best has withdrawn these public ratings of Cadence per the company’s request. Operating as a single-parent captive, Cadence provides coverage fo...

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to 44 classes of mortgage-backed notes from PMT Loan Trust 2026-CNF3 (PMTLT 2026-CNF3), a prime RMBS transaction sponsored by PennyMac Corp. (PennyMac), an indirect, wholly-owned subsidiary of PennyMac Mortgage Investment Trust (PMT). PMTLT 2026-CNF3 comprises 589 agency-eligible, conforming mortgage loans with an aggregate stated principal balance of approximately $322.7 million as of the March 1, 2026 cut-off date. The underlying col...

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to 71 classes of mortgage pass-through certificates from Sequoia Mortgage Trust 2026-INV2 (SEMT 2026-INV2). The transaction consists of 1,118 investment property mortgages with an aggregate principal balance of $438.4 million as of the March 1, 2026 cut-off date. The collateral is characterized by a weighted average (WA) original credit score of 770 and moderate borrower equity, with a WA original LTV and WA original CLTV of 73.2%. KBR...

MIDLAND, Texas--(BUSINESS WIRE)--Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced that it is now rated investment grade by both S&P Global Ratings (“S&P”) and Fitch Ratings (“Fitch”), following today's upgrade from S&P and the Company's initial investment grade rating from Fitch in July 2025. On March 17, 2026, S&P upgraded Permian Resources’ corporate and issuer credit ratings to BBB- from BB+ with a stable outlook. This follows th...

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to six classes of notes issued by Research-Driven Pagaya Motor Asset Trust 2026-R1 and Research-Driven Pagaya Motor Trust 2026-R1 (collectively “RPM 2026-R1”), an auto loan ABS transaction. RPM 2026-R1 has initial credit enhancement levels of 35.69% for the Class A notes to 2.65% for the Class E-2 notes. Credit enhancement is comprised of overcollateralization, subordination of junior note classes (except for the Class E-2 notes), a ca...

SINGAPORE--(BUSINESS WIRE)--AM Best has assigned a Financial Strength Rating of B (Fair), a Long-Term Issuer Credit Rating of “bb” (Fair) and a Philippines National Scale Rating of a.PH (Excellent) to Stronghold Insurance Company, Inc. (Stronghold) (Philippines). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect Stronghold’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and ma...

NEW YORK--(BUSINESS WIRE)--KBRA releases research assessing the characteristics of medical professional mortgage (MPM) loans, with a focus on their potential role as a niche collateral segment within the prime private label residential mortgage-backed securities (RMBS) market. MPMs, often called physician or doctor loans, are specialized prime mortgage programs designed for medical professionals whose early-career financial profiles often include high student debt, limited savings, and reliance...

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to 14 classes of mortgage-backed notes from OBX 2026-NQM4 Trust, a $789.6 million non-prime RMBS transaction. The underlying collateral, comprising 1,476 residential mortgages, is characterized by fixed-rate mortgages (FRMs) and hybrid adjustable-rate mortgages (ARMs) making up 92.3% and 7.7% of the pool, respectively. A majority of the loans are either classified as non-qualified mortgages (Non-QM; 37.0%) or exempt (51.6%) from the Ab...

NEW YORK--(BUSINESS WIRE)--KBRA assigns a rating of BBB- to MSC Income Fund, Inc.'s (NYSE: MSIF or “the company”) $150 million, 6.34% senior unsecured notes due 2029. The rating Outlook is Stable. The proceeds will be used for repayment of existing secured indebtedness. Key Credit Considerations The rating is supported by MSIF’s well diversified $1.3 billion investment portfolio spread among 150 portfolio companies (including equity investments) across 30+ industries as of 4Q25, with ~77% of it...

MEXICO CITY--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of B++ (Good), the Long-Term Issuer Credit Rating of “bbb” (Good) and the Mexico National Scale Rating of “aa.MX” (Superior) of Fianzas Avanza S.A de C.V. (Fianzas Avanza) (Mexico City, Mexico). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Fianzas Avanza’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business pr...