AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of ?a-? of Meritz Fire & Marine Insurance Co., Ltd.. The ratings reflect Meritz?s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
Fitch upgraded Italy's rating to "BBB" from "BBB-" on Friday, as it expects the country's economy to grow after reopening from the COVID-19-led pandemic lockdowns. The ratings agency believes high vaccination rates and use of the European Union's funds will help the country's growth, supported by both public and private investments.
Ratings agency Moody's on Friday https://www.moodys.com/research/Moodys-affirms-Turkeys-B2-ratings-and-maintains-negative-outlook--PR_458469 affirmed Turkey's long-term local and foreign currency issuer ratings at "B2", saying that the country's public finances will remain relatively robust in 2022.
* MOODY'S AFFIRMS TURKEY'S B2 RATINGS AND MAINTAINS NEGATIVE OUTLOOK. * MOODY'S SAYS EXPECTS THAT TURKEY'S PUBLIC FINANCES WILL REMAIN RELATIVELY ROBUST, WITH PUBLIC DEBT STAYING AT AROUND 40% OF GDP IN 2022. * MOODY'S ON TURKEY, SAYS CURRENT ECONOMIC POLICY STANCE WILL LEAD TO SIGNIFICANTLY HIGHER INFLATION OVER COMING MONTHS.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa-? of Great American Insurance Company and its pooling affiliates, collectively referred to as Great American Insurance Companies. At the same time, AM Best has affirmed the FSR of A+ and the Long-Term ICRs of ?aa-? of the property/casualty members of the Great American Contemporary Pool.
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B and the Long-Term Issuer Credit Rating of ?bb+? for Rutgers Casualty Insurance Company and American European Insurance Company, which operate an intercompany reinsurance pooling agreement, and are collectively known as AEIG or the group.
LOS ANGELES, Dec. 3, 2021 ?B. Riley Financial (RILY), Inc., a diversified provider of business advisory and financial services, today announced it has closed a $300 million underwritten registered public offering of 5.00% Senior Notes due 2026. The offering resulted in net proceeds of approximately $290.5 million after deducting underwriting discounts and commissions, but before expenses.
AM Best has affirmed the Financial Strength Rating of A-, the Long-Term Issuer Credit Rating of ?a-? and the Mexico National Scale Rating of ?aaa.MX? of General de Salud, Compa??a de Seguros, S.A.. The outlook of these Credit Ratings is stable.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Rating of ?aa? of Knights of Columbus. The ratings reflect the Order?s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.
AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Ratings of ?a-? of Fidelity & Guaranty Life Insurance Company and Fidelity & Guaranty Life Insurance Company of New York,. These subsidiaries of Fidelity & Guaranty Life Holdings, Inc. are referred to collectively as Fidelity & Guaranty Life Group.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Rating of ?aa-? of AXA Global Re. The ratings reflect AGRe?s balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, neutral business profile and very strong enterprise risk management.
STOCKHOLM, Dec. 3, 2021 Elekta announced today that it has issued SEK 1.5 billion senior unsecured sustainability-linked bonds under its Medium Term Note Program. The bonds are steered by Elekta's Sustainability-Linked Bond Framework and Elekta is the first company in Sweden to issue this type of security based on a pure social key performance indicator.
Kaisa Group's plan seeking creditors to agree on a debt swap for a US $400 million bond maturing next week failed to get many takers, putting the Chinese real estate developer at a risk of a default. The company had failed to get minimum required acceptances from creditors by the Dec. 2 deadline in order for it to move ahead with its debt swap plan, Kaisa said Friday. "As the minimum acceptance amount is a condition to the exchange offer and consent solicitation, which has not been met, the...
- China's Kaisa Group Holdings Ltd said on Friday it had failed to secure the minimum 95% approval needed from bondholders to extend the maturity of a $400 million note that is due next week. The embattled property developer last week announced its offer to exchange its 6.5% offshore bonds due Dec. 7 for new notes due June 6, 2023 at the same interest rate if at least 95% of holders accepted.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa-? of the life/health insurance subsidiaries of Prudential Financial, Inc. (PRU) [NYSE: PRU], referred to as Prudential.
AM Best has affirmed the Financial Strength Rating of B+ and the Long-Term Issuer Credit Rating of ?bbb-? of East Caribbean Reinsurance Company Limited. The ratings reflect ECRC?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 affirmed the Financial Strength Rating of B+ and the Long-Term Issuer Credit Rating of ?bbb-? of S2C S.p.A. Compagnia di Assicurazioni di Crediti e Cauzioni. The ratings reflect S2C?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 affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of ?a? of Group Ark Insurance Limited. The ratings reflect Ark?s consolidated 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.
AM Best has upgraded the Financial Strength Rating to A- from B++ and the Long-Term Issuer Credit Rating to ?a-? from ?bbb+? of Bremen Farmers Mutual Insurance Company. The ratings reflect Bremen?s 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.
Canadian Solar Inc (CSIQ): * CANADIAN SOLAR ISSUES EUR 30 MILLION GREEN BOND TO SUPPORT PROJECT DEVELOPMENT GROWTH Source text for Eikon: Further company coverage:
Shawcor Ltd (SAWLF): * SHAWCOR PRICES C$150 MILLION UNSECURED NOTE OFFERING. * Shawcor Ltd (SAWLF) - OFFERING C$150 MILLION 9.00% SENIOR UNSECURED NOTES DUE 2026. * Shawcor Ltd (SAWLF) - NOTES WILL BE ISSUED AT A PRICE OF C$1,000 PER C$1,000 PRINCIPAL AMOUNT OF NOTES Source text for Eikon: Further company coverage:
Emera Incorporated (EMRAF) today announced that the exchange offer for USD $750 million aggregate principal amount of outstanding senior unsecured notes by its wholly owned indirect subsidiary, Emera US Finance LP expired at midnight, New York City Time, on November 26, 2021.
Shawcor Ltd. (SAWLF) today announced that it has entered into an underwriting agreement to sell, pursuant to a private placement offering, C$150 million aggregate principal amount of 9.00% senior unsecured notes due 2026. Shawcor (SAWLF) will use the net proceeds of the Offering to repay amounts outstanding under its existing syndicated credit facility.
GUELPH, Ontario, Dec. 2, 2021 ?Canadian Solar Inc.? announces that Canadian Solar EMEA Capital Markets, S.A.U., an indirectly wholly-owned subsidiary of Canadian Solar (CSIQ), on December 2, 2021 has successfully completed a ? 30 million green bond issuance due on December 2026 under its ? 100 Canadian Solar EMEA Green Medium Term Note Program in the Spanish multilateral trading facility for debt secu...
KKR & Co. Inc. (KKR) today announced that it has priced an offering of $750,000,000 aggregate principal amount of its 3.250% Senior Notes due 2051 issued by KKR Group Finance Co. X LLC, its indirect subsidiary. KKR intends to use the net proceeds from the sale of the notes for general corporate purposes.
Chinese developer Kaisa Group Holdings Ltd is unlikely to win bondholders' approval to extend the maturity of a $400 million bond due next week, analysts say, heaping more pressure on other indebted peers.
Chinese developer Kaisa Group
Holdings Ltd is unlikely to win bondholders' approval to extend the maturity of a $400 million bond due next week, analysts say, heaping more pressure on other indebted peers.
Three Chinese developers, including the main operation platforms of Country Garden Holdings Co (CTRYF) and Longfor Group Holdings Ltd, plan to sell bonds in China to raise a combined 18 billion yuan, the official registration system showed late on Wednesday, evidence Beijing is marginally easing liquidity strains on the cash-strapped sector.
The Investment Company Institute reported $974 million of inflows into municipal bond mutual funds in the week ending Nov. 23, down from $1.430 billion in the previous week.
GREENWICH, Conn. The Company intends to allocate an amount equal to the net proceeds from the offering to finance or refinance, in whole or in part, recently completed or future eligible green and/or social projects.
THE WOODLANDS, Texas, Dec. 1, 2021 ?Newpark Resources, Inc. (NR) today announced the repayment of $39 million of outstanding convertible notes at maturity.
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of ?a+? of the core Blue Cross Blue Shield-branded insurance subsidiaries of Anthem, Inc. (ANTM) [NYSE:ANTM], as well as its branded life insurance subsidiaries. Furthermore, AM Best has affirmed the FSR of A- and the Long-Term ICR of ?a-? of the members of UNICARE Life & Health Group a subsidiary of Anthem.
ATLANTA, Dec. 1, 2021 ?Invesco Ltd. (IVZ), a leading global provider of exchange-traded funds, announced today that the three newest additions to its BulletShares??ETF suite are available to replace the ETFs maturing at year-end 2021.
Al Fada Group of companies announce a $4.7 Billion USD public placement via a hybrid, bond and SPAC acquisition, to be registered in the first weeks of Q1 this new year.
- A build up of bets on rising interest rates has done nothing to derail a stock market rally based on conviction that policy tightening by the U.S. Federal Reserve and other central banks will go nowhere near as far as it did in the past.
Starwood Property Trust Inc (STWD): * Starwood Property Trust Inc (STWD)- STARWOOD PROPERTY TRUST ANNOUNCES PRIVATE OFFERING OF SUSTAINABILITY BONDS. * Starwood Property Trust Inc (STWD)- OFFERING $400 MILLION AGGREGATE PRINCIPAL AMOUNT OF ITS UNSECURED SENIOR NOTES DUE 2024 IN A PRIVATE OFFERING Source text for Eikon: Further company coverage:
GREENWICH, Conn. The Company intends to allocate an amount equal to the net proceeds from the offering to finance or refinance, in whole or in part, recently completed or future eligible green and/or social projects.
B Riley Financial Inc (RILY): * B. RILEY FINANCIAL PRICES $300 MILLION OFFERING OF SENIOR NOTES DUE 2026. * B Riley Financial Inc (RILY) - PRICED UNDERWRITTEN REGISTERED PUBLIC OFFERING OF $300 MILLION 5.00% SENIOR NOTES DUE 2026 Source text for Eikon: Further company coverage:
LOS ANGELES, Dec. 1, 2021 B. Riley Financial, Inc. (RILY), a diversified provider of business advisory and financial services, today announced it has priced an underwritten registered public offering of $300 million aggregate principal amount of 5.00% Senior Notes due 2026.
Array Technologies (ARRY), Inc.? today announced it has priced an upsized offering of $375 million aggregate principal amount of 1.00% convertible senior notes due 2028 in a private offering to eligible purchasers under Rule 144A of the Securities Act of 1933, as amended.
Atlanticus Holdings Corporation (ATLC), a financial technology company which enables its bank, retail and healthcare partners to offer more inclusive financial services to millions of everyday Americans, today announced the closing of the full over-allotment option in connection with its underwritten registered public offering of 6.125% Senior Notes due 2026.
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.
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.
NEW YORK, Nov. 30, 2021 ?7 Chord, Inc., an independent provider of predictive prices and analytics to fixed income traders, issuers, and investors, today announced that it became the first AI pricing vendor to enter into a strategic data partnership with Glimpse Markets, a newly-formed network of buy-side institutions sharing secondary market transaction data.
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...
- The Omicron COVID-19 variant could hurt global growth prospects while also pushing prices higher, rating agencies Fitch Ratings and Moody's Investors Service said on Monday, after the World Health Organization said the variant carried a very high risk of infection surges.
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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