AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa-? of MLMIC Insurance Company. The ratings reflect MLMIC?s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
In Celebration of GivingTuesday, Firm Also Provides $50,000 Community Grant to the NYC Partnership Foundation to Stimulate New Business Creation and Resiliency KKR today announced the recipients of the latest rounds of KKR Relief Effort grants awarded through two of the initiative?s cornerstone programs: KKR Small Business Builders and KKR Grants.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa? of the members of RLI Group. The ratings reflect RLI?s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and very strong enterprise risk management.
Dollar Tree, Inc. (DLTR) today announced that it has priced a public offering of $1.2 billion of its senior notes, consisting of $800 million aggregate principal amount of its 2.650% Senior Notes due 2031 and $400 million aggregate principal amount of its 3.375% Senior Notes due 2051.
Increased Binding Offer Delivers Superior Value to RRD Stockholders than Transaction with Atlas Holdings or Offer from Undisclosed Strategic Party Calls on Board to Meaningfully Engage with Chatham by Close of Business on December 1 Chatham Owns Control Positions in RRD?s Three Largest Bond Tranches CHATHAM, N.J.---- Chatham Asset Management, LLC, a private investment firm which manages funds t...
BNY Mellon Investment Adviser, Inc. announced today that BNY Mellon Municipal Income, Inc. (DMF), BNY Mellon Strategic Municipal Bond Fund, Inc. (DSM) and BNY Mellon Strategic Municipals, Inc. (LEO) have declared a monthly distribution for each Fund's common shares as summarized below.
Kroll Bond Rating Agency is pleased to announce the assignment of preliminary ratings to four classes of FREMF Series 2021-K135 mortgage pass-through certificates and three classes of Freddie-Mac structured pass-through certificates, Series K-135. The underlying transaction is collateralized by 45 fixed-rate multifamily mortgage loans.
PROG Holdings, Inc. (PRG), the fintech holding company for Progressive Leasing, Vive Financial, and Four Technologies, today announced the completion of its previously announced offering of $600 million in aggregate principal amount of its 6.00% senior unsecured notes due 2029 in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Se...
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb? of RF&G Insurance Company Limited . The outlook of these Credit Ratings is stable. The ratings reflect RF&G?s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
UGI Corporation (UGI) announced today that its indirect, wholly owned subsidiary, UGI International, LLC, priced its offering of ?400,000,000 in aggregate principal amount of 2.50% senior unsecured notes due 2029.
Universal Insurance Holdings (UVE) announced today that it has completed an upsized and oversubscribed private placement of $100 million aggregate principal amount of 5.625% senior unsecured notes due 2026 to certain institutional accredited investors and qualified institutional buyers.
This press release contains forward-looking information that is based upon assumptions and is subject to risks and uncertainties as indicated in the cautionary note contained within this press release.
Kroll Bond Rating Agency releases its outlook on the CMBS sector, highlighting key trends from 2021 and providing forecasts for issuance activity in the new year. With the surge in the delta variant subsiding and COVID rates slowing, economic activity continues to increase, contributing to increasing employment levels and a recovering commercial real estate sector.
Associate Jabree Bond-Flournoy: ?I always recommend and refer people to GEICO because of the opportunities for advancement? GEICO significantly increased starting salaries for sales, customer service and claims positions at the company?s Indianapolis regional office.
Kroll Bond Rating Agency UK Limited is pleased to announce the assignment of preliminary ratings to five classes of Highways 2021 PLC, a CMBS single-borrower securitisation. The collateral for the transaction consists of ?264.5 million limited recourse, first lien mortgage loan.
Texas Capital Bank and FHLB Dallas Provide Funds to Covenant House Texas. Texas Capital Bank and the Federal Home Loan Bank of Dallas partnered to award a $750,000 Affordable Housing Program subsidy to Covenant House Texas to redevelop its Houston, Texas, campus. This press release features multimedia.
AM Best has assigned a Long-Term Issue Credit Rating of ?aa-? to the $675 million 3.200% surplus notes due Dec. 1, 2061 that were recently issued by Massachusetts Mutual Life Insurance Company. MassMutual?s financial 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.
Standard & Poor?s upgrades Teleperformance to BBB, the highest credit rating received in the industry Regulatory News: Teleperformance, a leading global group in digitally integrated business services, announced today that its public long-term corporate credit rating has been upgraded.
UGI Corporation (UGI) announced today that its indirect, wholly owned subsidiary, UGI International, LLC, intends to offer ?400,000,000 in aggregate principal amount of senior unsecured notes to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and outside the United States in compliance with Regulation S under the Sec...
AM Best has assigned a Long-Term Issue Credit Rating of ?bbb+? to the CAD 1.2 billion, 4.10% subordinated notes, due March 19, 2082, recently announced by Manulife Financial Corporation [NYSE: MFC]. The outlook assigned to the Credit Rating is stable.
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb+? of First Net Insurance Company. The ratings reflect First Net?s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
St. Landry Homestead Federal Savings Bank and FHLB Dallas Contribute $750K to Project. Yesterday, the Refinery Mission and its staff joined representatives from St. Landry Homestead Federal Savings Bank and the Federal Home Loan Bank of Dallas to break ground on a new transitional housing facility that will serve adult men. This press release features multimedia.
Affirm Holdings, Inc. (AFRM) today announced the pricing of $1.5 billion aggregate principal amount of 0% Convertible Senior Notes due 2026 in a private offering. The Notes will not bear regular interest, and the principal amount of the Notes will not accrete. When issued, the Notes will be senior, unsecured obligations of Affirm.
? Xtrackers II Investment Company with Variable Capital Registered office: 49, avenue J.F. Kennedy, L-1855 Luxembourg, R.C.S. Luxembourg B-124.284 Important Notice to Shareholders of Xtrackers II Global Aggregate Bond Swap UCITS ETF 1D 3D-GBP Hedged 19 November 2021 Dear Shareholder, The board of directors of the Company hereby informs the shareholders of the Sub-Fund that it has resolved to ...
? Xtrackers II Investment Company with Variable Capital Registered office: 49, avenue J.F. Kennedy, L-1855 Luxembourg, R.C.S. Luxembourg B-124.284 Important Notice to Shareholders of Xtrackers II Global Aggregate Bond Swap UCITS ETF 1D 3D-GBP Hedged 19 November 2021 Dear Shareholder, The board of directors of the Company hereby informs the shareholders of the Sub-Fund that it has resolved to ...
Intercontinental Exchange, Inc. (ICE), a leading global provider of data, technology, and market infrastructure, today announced that ICE Benchmark Administration Limited, the authorized and regulated administrator of LIBOR?, has provided an update regarding LIBOR cessation and ?synthetic? LIBOR following previous announcements from the UK Financial Conduct Authority.
Valero Energy Corporation (VLO) announced today that it has priced a public offering of $500,000,000 aggregate principal amount of 2.800% Senior Notes due 2031 and $950,000,000 aggregate principal amount of 3.650% Senior Notes due 2051. The offering is expected to close on November 29, 2021, subject to customary closing conditions.
In a repeat of the 2020 experience, after a very strong third quarter, home prices across the United States continued to climb in October albeit at a slower pace than in September. This press release features multimedia. While the one-month trend was slightly lower, in the twelve months since November 2020, the Radian HPI increased nationally by 12.9 percent.
Kontoor Brands, Inc. today announced that it has successfully completed its offering of $400.0 million aggregate principal amount of 4.125% Senior Notes due 2029. The Notes and related guarantees have not been registered under the Securities Act of 1933, as amended, or any state securities laws.
AVALONBAY COMMUNITIES, INC. (AVB) announced today that on November 18, 2021 it completed an underwritten public offering of $400 million aggregate principal amount of 1.900% senior notes due 2028. The effective interest rate of the 2028 Notes is 2.037%, including the impact of offering costs.
AM Best has affirmed the Financial Strength Rating of B+ and the Long-Term Issuer Credit Rating of ?bbb-? of Orion Reinsurance Ltd.. The outlook of these Credit Ratings is stable. The ratings reflect Orion Re?s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
AM Best has assigned a Long-Term Issue Credit Rating of ?a-? to Primerica, Inc.?s recently announced $600 million 2.8% senior unsecured notes, due November 2031.
AM Best has upgraded the Financial Strength Rating to A- from B++ and the Long-Term Issuer Credit Rating to ?a-? from ?bbb+? of Worldwide Medical Assurance, Ltd. Corp. . The outlook of these Credit Ratings has been revised to stable from positive.
AM Best has downgraded the Long-Term Issuer Credit Rating to ?bbb? from ?bbb+? and affirmed the Financial Strength Rating of B++ of Chautauqua Patrons Insurance Company. These Credit Ratings reflect Chautauqua?s balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, limited business profile and marginal enterprise risk management.
AM Best has assigned a Financial Strength Rating of B and a Long-Term Issuer Credit Rating of ?bb+? to Compagnie Alg?rienne des Assurances. The ratings reflect CAAT?s balance sheet strength, which AM Best assesses as strong, as well as its strong operating performance, limited business profile and marginal enterprise risk management.
AM Best has assigned an indicative Long-Term Issue Credit Rating of ?aa-? to the surplus notes recently announced by Massachusetts Mutual Life Insurance Company. MassMutual will offer up to $750 million in surplus notes with maturities due in 40 years. MassMutual?s financial leverage and interest coverage ratios are within AM Best?s guidelines for its ratings.
Proceeds to Support General Corporate Purposes including Key Growth Initiatives Affirm Holdings, Inc. (AFRM) today announced its intention to offer, subject to market conditions and other factors, $1.25 billion aggregate principal amount of Convertible Senior Notes due 2026 in a private offering.
Stem, Inc. (STEM) announced today the pricing of $400 million aggregate principal amount of 0.50% Green Convertible Senior Notes due 2028 in a private offering, which was upsized from the previously announced $350 million offering, to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended.
Stewart Information Services Corporation (STC) today announced the pricing of its public offering of $450 million aggregate principal amount of its 3.600% senior notes due 2031. The notes will be general senior unsecured obligations of the Company and will rank equally in right of payment with the company?s existing and future senior unsecured indebtedness.
Profitability improved to a loss of AR$60 M in 3Q21 from a loss of AR$348 M in 2Q21 reflecting lower LLPs and operating expenses, although Central Bank regulations and soft loan demand continue to weigh on NIM.
AM Best has affirmed the Financial Strength Rating of A++ and the Long-Term Issuer Credit Ratings of ?aa+? of the life/health subsidiaries of Delphi Financial Group, Inc.: Reliance Standard Life Insurance Company and First Reliance Standard Life Insurance Company, as well as DFG?s property/casualty subsidiaries: Safety National Casualty Corporation, Safety Specialty Insurance Company and Safety...
Witter to Speak on Wednesday, Dec. 1, at 3 p.m. ET Sallie Mae today announced CEO Jon Witter will speak at the Stephens Annual Investment Conference on Wednesday, Dec. 1, at 3 p.m. ET. A live audio webcast and replay will be available at SallieMae.com/investors/webcasts-and-presentations/. Sallie Mae believes education and life-long learning, in all forms, help people achieve great things.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa-? of Transatlantic Reinsurance Company and its subsidiaries.
AM Best has revised the outlook to stable from negative for the Long-Term Issuer Credit Rating and affirmed the Financial Strength Rating of B and the Long-Term ICR of ?bb+? of The Order of United Commercial Travelers of America.
As the London Interbank Offered Rate is phased out as a benchmark for short-term interest rates, insurers are weighing their options and cautiously entering instruments and hedges based on the Secured Overnight Financing Rate, due to the unknowns and limited liquidity, according to an AM Best report.
New Economist Impact research study shows changing mindset of traditional banks to partner with fintechs; 76 percent of industry leaders see partnerships as the future for small business lending Q2 Holdings, Inc. (QTWO), a leading provider of digital transformation solutions for banking, today released a global research study conducted by Economist Impact in collaboration with Salesforce.
Tapestry, Inc. (TPR), a leading New York-based house of modern luxury accessories and lifestyle brands, today announced the pricing of $500 million aggregate principal amount of 3.050% senior unsecured notes due 2032.
Recent $860 Million Issuance Demonstrates Company?s Commitment to Triple Bottom Line Building upon its longstanding commitment to sustainability and environmental stewardship, PG&E Recovery Funding, LLC, a subsidiary of Pacific Gas and Electric Company, recently finalized an $860 million green bond issuance to finance electric work that will have significant environmental benefits, while also k...
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.
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