AM Best has assigned a Long-Term Issue Credit Rating of ?bbb+? to the $300 million, 7% surplus notes, due October 2064, issued by Farmers Insurance Exchange. The proceeds from the surplus notes issuance are expected to be used for general purposes, and the financial leverage will remain within AM Best?s guidelines for the company?s current rating.
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb? of Beneficial Insurance Limited. The Credit Ratings reflect Beneficial?s balance sheet strength, which AM Best assesses as adequate, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.
AM Best has affirmed the Financial Strength Rating of B and the Long-Term Issuer Credit Rating of ?bb+? of Quest Insurance Group Limited. These ratings reflect Quest?s balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
AM Best has upgraded the Financial Strength Rating to A- from B++ and the Long-Term Issuer Credit Rating to ?a-? from ?bbb+? of General Insurance Corporation of India. The ratings reflect GIC Re?s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, favourable business profile and appropriate enterprise risk management.
Improving market dynamics have provided relief, indicating confidence in both domestic and global economic conditions Dun & Bradstreet (DNB), a leading global provider of business decisioning data and analytics, today released its Q4 2024 Global Business Optimism Insights report.
Meridian Capital Group, one of the nation?s leading commercial real estate finance, investment sales and retail leasing advisors, announced today that Freddie Mac lenders may resume requesting quotes for Meridian-brokered loans beginning on January 1, 2025.
AM Best has assigned a Financial Strength Rating of B and the Long-Term Issuer Credit Rating of ?bb+? to Soci?t? Nationale d'Assurance. The ratings reflect SAA?s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and marginal enterprise risk management.
KBRA assigns a rating of ?BBB-? to the Series 2024-FT1 Note from FMC Issuer Trust-FMSR, master trust issuer of notes backed by a participation certificate representing an interest in MSRs that are created on mortgage loans owned by Fannie Mae or otherwise included in Fannie Mae MBS and serviced by FMC.
KBRA assigns A- long-term rating with a Stable Outlook for the El Paso County Hospital District Revenue Refunding Bonds, Series 2024. The Stable Outlook is predicated upon the District?s on-going ability to generate stable operating cash flows sufficient to service debt obligations.
To grow the diverse real estate developer talent pipeline in Illinois and Wisconsin, the Federal Home Loan Bank of Chicago has awarded over $3 million through its 2024 Community First? Diverse Developer Initiative to support 62 fellowships and internships across 14 organizations. This press release features multimedia.
AM Best has affirmed the Financial Strength Rating of A++ and the Long-Term Issuer Credit Ratings of ?aa+? of Samsung Fire & Marine Insurance Co., Ltd. and its subsidiaries, Samsung Fire & Marine Insurance Company of Europe Limited, Samsung Vina Insurance Co., Ltd., and Samsung Reinsurance Pte.
AM Best has affirmed the Financial Strength Rating of B++, the Long-Term Issuer Credit Rating of ?bbb? and the Philippines National Scale Rating of aa+.PH of National Reinsurance Corporation of the Philippines.
AM Best has upgraded the Financial Strength Rating to A from B++ and the Long-Term Issuer Credit Rating to ?a? from ?bbb+? of GIG Insurance - Egypt S.A.E.. The outlook of these Credit Ratings is stable.
KBRA releases research on exposure in its rated universe of commercial real estate securities and single-family rentals to Hurricane Milton. KBRA identified loans within our rated universe of CRE securities?including conduit, Freddie Mac, single borrower, and CRE collateralized loan obligation transactions?along with SFRs that have exposure to the 11 at-risk Gulf Coast counties.
Redwood Trust, Inc. (RWT) today announced that it priced approximately $40 million aggregate principal amount of its 7.75% convertible senior notes due 2027 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended.
Ares Management Corporation (ARES) today announced that it has priced an offering of $750,000,000 aggregate principal amount of its 5.600% Senior Notes due 2054. The notes will bear interest at a rate of 5.600% per annum. The net proceeds from the Offering will be approximately $737.7 million, after deducting the underwriting discount, but before offering expenses.
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb? of Golden Tree Reinsurance Limited. Golden Tree is a subsidiary of Iris Financial Services Limited and is owned ultimately by Springbrook Capital Ltd., a privately held holding company with diversified operations in insurance and financial services.
Webcast Scheduled for Wednesday, Oct. 23, at 5:30 p.m. ET Sallie Mae?, formally SLM Corporation (SLM), will release third-quarter 2024 financial results after market close on Wednesday, Oct. 23, 2024. A live audio webcast and presentation slides will be available at SallieMae.com/investors and the hosting website. Investors should log in at least 15 minutes prior to the broadcast.
Easterly Asset Management, home to investment teams that provide private wealth and institutional investors with a portfolio of solutions across alternatives, active equity and active fixed income, today announced the launch of Easterly ROC Municipals, a municipal bond investment team that seeks to deliver tax-aware, yield-driven total returns for investors.
Hercules Capital, Inc. (HTGC), the largest and leading specialty financing provider to innovative venture, growth and established stage companies backed by some of the leading and top-tier venture capital and select private equity firms, today announced that Moody?s Investors Service, Inc. has reaffirmed Hercules an investment grade credit and corporate rating of Baa3 with a revised outlook to positiv...
?. Santander UK PLC. Issue of GBP 1,250,000,000.00. Floating rate covered bond due July 2027. Series 84 Tranche 1 MTN. ISSUE NAME. Our Ref. ISIN Code. TOTAL INTEREST AMT. CURRENCY CODE. DAY BASIS. NUM OF DAYS. INTEREST RATE. VALUE DATE. INTEREST PERIOD. GBP 18,007,116.44. POOL FACTOR.
?. Santander UK PLC. Issue of GBP 1,500,000,000.00. Floating Rate Covered Bonds due Jan 2028. Series 80 Tranche 1 MTN. ISSUE NAME. Our Ref. ISIN Code. TOTAL INTEREST AMT. CURRENCY CODE. DAY BASIS. NUM OF DAYS. INTEREST RATE. VALUE DATE. INTEREST PERIOD. GBP 22,033,471.23. POOL FACTOR.
Eaton Vance California Municipal Bond Fund (EVM) and Eaton Vance New York Municipal Bond Fund (ENX) announced the results of each Fund?s Annual Meeting of Shareholders, which was convened on September 9, 2024 and adjourned to September 30, 2024, for the election of three members of the Fund?s board of trustees to serve three-year terms ending in 2027.
KBRA assigns an A+ rating, with a Stable Outlook to General Airport Senior Lien Revenue Refunding Bonds, Series 2024C and Series 2024D; and General Airport Senior Lien PFC Revenue Refunding Bonds, Series 2024E and Series 2024F to be issued by the City of Chicago on behalf of Chicago O'Hare International Airport.
Holistic Emissions Data Now Available for Municipal Bonds, Mortgage-backed Securities and Real Estate, as well as Corporate and Sovereign Bonds Intercontinental Exchange, Inc. (ICE), a leading global provider of technology and data, today announced the launch of a multi-asset class climate transition risk solution, which provides emissions estimates and portfolio analytics across various fixed income...
This quarter's report highlights the impacts of the Federal Reserve?s rate cutting cycle and market expectations surrounding presidential elections. Lincoln Financial released its latest edition of Market Intel Exchange, curated from the firm?s in-house investment expertise and in partnership with industry-leading asset managers, known as Lincoln?s Multimanager Platform.
Grants Were Funded Through FHLB Dallas? $1M Native American Housing Opportunities Fund. Representatives from the Federal Home Loan Bank of Dallas, Del Norte Credit Union, Wells Fargo and Southwest Capital Bank awarded $550,000 in Native American Housing Opportunities Fund grants to four New Mexico-based tribal housing organizations. This press release features multimedia.
AM Best has affirmed the Financial Strength Rating of B++, the Long-Term Issuer Credit Rating of ?bbb? and the Mexico National Scale Rating of ?aa.MX? of Dentegra Seguros Dentales, S.A.. The outlook of these Credit Ratings is stable.
AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Ratings of ?bbb+? of the two operating subsidiaries of Nagico Holdings Limited ? National General Insurance Corporation N.V. and Nagico Insurance Company Limited.
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb+? of Eurasia Insurance Company JSC. The ratings reflect Eurasia?s balance sheet strength, which AM Best assesses as strong, as well as the company?s strong operating performance, neutral business profile and appropriate enterprise risk management.
AM Best has affirmed the Long-Term Issue Credit Rating of ?a-? on the $750 million, 5.3% senior unsecured notes, due December 2034, of MetLife, Inc. [NYSE: MET]. The outlook of this Credit Rating is stable. The rating applies to the recently issued $250 million, 5.3% senior unsecured notes, due 2034, and its existing $500 million, 5.3% senior unsecured notes, due 2034, issued June 5, 2024.
AM Best has assigned a Long-Term Issue Credit Rating of ?aa+? to the $500 million, 4.35% senior secured medium-term notes, due Sept. 17, 2031, issued by MassMutual Global Funding II.. MassMutual?s leverage and interest coverage ratios are within AM Best?s guidelines for its ratings. This press release relates to Credit Ratings that have been published on AM Best?s website.
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of ?a-? of Kansas City Life Insurance Company [OTCQX: KCLI]. Additionally, AM Best has revised the outlook of the Long-Term ICR to stable from negative and affirmed the FSR of B++ and the Long-Term ICR of ?bbb+? of Old American Insurance Company, a who...
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of ?a+? of the key life/health subsidiaries of Globe Life Inc. [NYSE: GL]. Concurrently, AM Best has affirmed the Long-Term ICR of ?bbb+? of Globe Life.
KBRA assigns preliminary ratings to 24 classes from Freddie Mac Structured Agency Credit Risk REMIC 2024-DNA3 Notes, Freddie Mac STACR REMIC Trust 2024-DNA3, a credit risk sharing transaction with a total note offering of $642,500,000.
KBRA releases the September 2024 issue of CMBS Trend Watch. There is a renewed sense of optimism in the commercial real estate industry. In September, KBRA published pre-sales for nine deals including four conduits, four SBs, and one Agency. Click here to view the report.
Indefinite delivery, indefinite quantity contract validates demand for BlackSky?s ability to deliver industry-leading commercial real-time, AI-driven monitoring services at scale BlackSky Technology Inc. (BKSY/WS) was awarded a five-year, up to $290 million multi-award indefinite-delivery, indefinite-quantity NGA contract to monitor global economic and environmental activity and military capability using...
BNY Mellon Municipal Bond Infrastructure Fund, Inc. (DMB) today announced a distribution of $0.0300 per share of common stock, payable on November 1, 2024 to shareholders of record at the close of business on October 18, 2024. The Fund intends to make regular monthly distributions to its common shareholders at a level rate based on its projected performance.
Keysight Technologies, Inc. (KEYS) today announced the pricing of an underwritten, registered public offering of its senior unsecured fixed rate notes in an aggregate principal amount of $600,000,000. Keysight (KEYS) intends to use the net proceeds from the Offering for general corporate purposes, including to repay its outstanding $600 million of 4.55% senior notes due October 30, 2024.
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb? of Ol? Insurance Group Corp I.I.. The outlook of these Credit Ratings is stable.
?. City Of Goteborg. SEK 650,000,000.00 MTN. Floating Rate Green Bonds due 2028. Series GB25 Tranche 1 MTN. ISSUE NAME. Our Ref. ISIN Code. TOTAL INTEREST AMT. CURRENCY CODE. DAY BASIS. NUM OF DAYS. INTEREST RATE. VALUE DATE. INTEREST PERIOD. SEK 6,063,506.94. POOL FACTOR. View source version on businesswire.com: https://www.businesswire.com/news/home/20241002552663/en/ Source: Deutsche Bank AG.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa-? of AXA S.A. and its rated subsidiaries. The ratings reflect AXA?s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, very favourable business profile and very strong enterprise risk management.
AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating and affirmed the Financial Strength Rating of B++ and the Long-Term ICR of ?bbb+? of Gar-Bo F?rs?kring AB.
KBRA assigns a preliminary rating of ?BBB-? to the Series 2024-FT1 Note from FMC Issuer Trust-FMSR, master trust issuer of notes backed by a participation certificate representing an interest in MSRs that are created on mortgage loans owned by Fannie Mae or otherwise included in Fannie Mae MBS and serviced by FMC.
?. On October 1, 2024, Ferguson Enterprises Inc. (FERG) announced that it has priced a public offering of $750 million in aggregate principal amount of 5.000% senior unsecured notes due 2034. Ferguson intends to use a portion of the net proceeds from the sale of the Notes to prepay certain outstanding term loans, with the remaining proceeds to be used for general corporate purposes.
AM Best has assigned a Financial Strength Rating of B++ and a Long-Term Issuer Credit Rating of ?bbb+? to AVLA Re Ltd.. The outlook assigned to these Credit Ratings is stable. The ratings of AVLA Re reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
On October 1, 2024, Ferguson Enterprises Inc. (FERG) announced that it has priced a public offering of $750 million in aggregate principal amount of 5.000% senior unsecured notes due 2034. Ferguson intends to use a portion of the net proceeds from the sale of the Notes to prepay certain outstanding term loans, with the remaining proceeds to be used for general corporate purposes.
AM Best has downgraded the Financial Strength Rating to B- from B and the Long-Term Issuer Credit Rating to ?bb-? from ?bb? of Sublimity Insurance Company. The ratings reflect SIC?s balance sheet strength, which AM Best assesses as weak, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
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