AM Best has assigned a Long-Term Issue Credit Rating of ?a-? to the $850 million 3.35% 10-year senior unsecured notes issued by Sammons Financial Group, Inc., an intermediate holding company indirectly owned by Sammons Enterprises, Inc.. The outlook assigned to this Credit Rating is stable.
Kroll Bond Rating Agency releases commentary on the trends in the March 2021 state-level unemployment data. As various states continue with reopening efforts, the U.S. unemployment rate declined further month-over-month, to reach 6.2% in March 2021 versus 6.6% in February, marking its lowest level since the onset of the pandemic. Click here to view the report.
BlackRock Advisors, LLC today announced that the reorganizations of each of BlackRock Maryland Municipal Bond Trust (BZM), BlackRock Massachusetts Tax-Exempt Trust (MHE), BlackRock MuniYield Arizona Fund, Inc. (MZA), BlackRock MuniYield Investment Fund (MYF), BlackRock MuniEnhanced Fund, Inc. (MEN) and BlackRock MuniYield Quality Fund, Inc. (MQY) is effective as of the opening for business of the New York Stock Exchange on Monday...
Days after officially introducing the company?s Sustainable Bond Framework, Pacific Life announced today it has completed an inaugural $800 million Sustainability Bond offering through the Capital Markets Group of its Institutional Division.
Genesis Energy, L.P. (GEL) today announced the commencement of a registered, underwritten public offering of $200,000,000 in aggregate principal amount of 8.0% senior unsecured notes due 2027. BofA Securities, Inc. is leading the offering along with several joint book-running managers and co-managers.
Entegris, Inc. (ENTG) today announced that it has priced its private offering of $400 million aggregate principal amount of 3.625% senior unsecured notes due 2029. The Company expects the net proceeds of the offering to be approximately $394 million, after deducting estimated commissions and offering fees and expenses.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Rating of ?aa-? of Industrial Alliance Insurance and Financial Services Inc.. Concurrently, AM Best has affirmed the Long-Term Issue Credit Ratings of IA. Additionally, AM Best has affirmed the FSR of A and the Long-Term ICRs of ?a? of IA?s U.S. life insurance entities within the IA American Life Group.
AM Best has revised the outlook to positive 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 EquiTrust Life Insurance Company.
LegalShield today released its March Economic Stress Index, a suite of leading indicators of the economic and financial status of U.S. households and small businesses.
Expected proceeds to be used to partially fund the redemption of senior unsecured notes due 2026 Entegris, Inc. (ENTG) today announced that it intends to offer $400 million aggregate principal amount of senior unsecured notes due 2029 in a private offering.
GYP Holdings III Corp., an indirect wholly-owned subsidiary of GMS Inc. (GMS), today announced that it has upsized and priced a private offering of $350.0 million aggregate principal amount of senior notes due 2029 in reliance upon an exemption from the registration requirements of the Securities Act of 1933, as amended, representing an increase of $50.0 million in aggregate principal amount from the...
Kroll Bond Rating Agency assigns preliminary ratings to 28 classes from Structured Agency Credit Risk REMIC 2021-DNA3 Notes, Freddie Mac STACR REMIC Trust 2021-DNA3, a credit risk sharing transaction with a total note offering of $950,000,000.
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 The Providence Mutual Fire Insurance Company.
Wells Fargo and FHLB Dallas Award AHP Subsidy for The Arbors at West Avenue. Wells Fargo and the Federal Home Loan Bank of Dallas have awarded a $750,000 Affordable Housing Program subsidy to Prospera Housing and Community Services to help fund the creation of a new apartment community in San Antonio, Texas. This press release features multimedia.
PGIM Active Aggregate Bond ETF (PULS) offers actively managed fixed income at an attractive cost for investors PGIM Investments is expanding its exchange-traded fund lineup with the launch of the PGIM Active Aggregate Bond ETF (PULS). PAB is an actively managed fixed income ETF seeking total return through a combination of current income and capital appreciation.
Tom Boyle, Chief Financial Officer of Public Storage (PSA), announced today that the Company has priced a public offering of $2.0 billion aggregate principal amount of senior notes. The senior notes will be issued in three tranches. The offering is expected to close on April 23, 2021, subject to the satisfaction of customary closing conditions.
Firm?s portfolio managers to offer latest insights on municipal bond and broader fixed income markets and provide updates on Putnam closed-end funds Putnam Investments announced today that it will hold a webcast on Wednesday, April 21st at 4:15 p.m. ET for the following Putnam closed-end fund strategies: During the webcast, portfolio manager Paul M. Drury will provide updates on the municipal ...
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B+ and the Long-Term Issuer Credit Rating of ?bbb-? of Tugu Insurance Company Limited. The Credit Ratings reflect TIC?s balance sheet strength, which AM Best assesses as strong, as well as its marginal operating performance, limited business profile and marginal enterprise risk management.
ORIX Corporation USA, the Americas business of the international financial services group ORIX Corporation (IX), announced today that its Municipal and Infrastructure Finance business recently completed a $44.8 million tax-exempt and taxable bond financing to fund the acquisition of five senior housing communities that are part of the Coventry Properties of Minnesota.
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb? of National Fire and Indemnity Exchange. The ratings reflect NFIE?s balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management.
AM Best has assigned the Long-Term Issue Credit Ratings of ?a-? to the new yen-denominated senior unsecured notes of Aflac Incorporated (AFL) [NYSE:AFL], which total JPY 82.0 billion.
Home Bank and FHLB Dallas Partner on Funding. Home Bank and the Federal Home Loan Bank of Dallas have awarded a $97,700 Affordable Housing Program subsidy to the city of Natchez to rehabilitate 10 homes for very low- to low-income residents. Natchez is a historic city and one of the oldest settlements along the Mississippi River.
Sallie Mae? today released its latest Corporate Social Responsibility Report, ?Powering Confidence: Increasing Access and Opportunity Through Higher Education. The report highlights the company?s commitment to customers, team members, communities, the environment, and corporate governance.
AM Best has downgraded the Long-Term Issuer Credit Rating to ?bbb? from ?bbb+? and affirmed the Financial Strength Rating of B++ of Qatar General Insurance & Reinsurance Company QPSC. These Credit Ratings reflect QGIRC?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.
News Corporation (NWSA) announced today the pricing of its private offering of $1 billion aggregate principal amount of Senior Notes due 2029. News Corp (NWSA) plans to use the net proceeds from the offering for general corporate purposes, which may include acquisitions and working capital. News Corp (NWSA) has made the offering pursuant to an exemption under the Securities Act of 1933, as amended.
AM Best has downgraded the Long-Term Issuer Credit Rating to ?bbb? from ?bbb+? and affirmed the Financial Strength Rating of B++ of Tower Hill Prime Insurance Company. The Credit Ratings reflect Tower Hill Prime?s balance sheet strength, which AM Best assesses as very strong, as well as its marginal 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 BlueShore Insurance Company. The ratings reflect BlueShore?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.
Wells Fargo and FHLB Dallas Join Together to Ease Low-Income Housing Shortage. Wells Fargo and the Federal Home Loan Bank of Dallas have awarded $1.5 million in Affordable Housing Program subsidies to Foundation Communities for two Austin apartment complexes serving low-income individuals and families. 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 CESCE M?xico, S.A. de C.V. , and its affiliate, CESCE Fianzas M?xico, S.A. de C.V. . The outlook of the Credit Ratings is stable.
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb? of Juniata Mutual Insurance Company. The Credit Ratings reflect JMIC?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.
Kroll Bond Rating Agency affirms its BBB ratings for issuer NSA OP, LP, the operating partnership subsidiary of National Storage Affiliates Trust, and for the issuer?s $400 million outstanding senior unsecured notes. KBRA?s revises its rating Outlook to Positive from Stable for each of the above ratings. Click here to view the report.
AM Best has upgraded the Financial Strength Rating to A+ from A and the Long-Term Issuer Credit Ratings to ?aa-? from ?a+? for both members of the PURE Group of Insurance Companies: Privilege Underwriters Reciprocal Exchange and PURE Insurance Company.
Air Transport Services Group, Inc. (ATSG) announced today the upsize and pricing of the previously announced add-on private offering by its wholly owned, indirect subsidiary, Cargo Aircraft Management, Inc., of $150 million in aggregate principal amount of 4.750% senior notes due 2028.
Conference Call Scheduled for Thursday, April 22, at 8 a.m. ET Sallie Mae? will release first-quarter financial results after market close on Wednesday, April 21, 2021. The company will host a conference call on Thursday, April 22, 2021, at 8 a.m. ET. A live audio webcast and presentation slides will be available at SallieMae.com/investors.
Forestar Group Inc. (FOR) today announced that it has priced an offering of $400 million aggregate principal amount of 3.850% senior unsecured notes due 2026. The Notes will rank equally in right of payment to all of Forestar?s existing and future senior unsecured debt.
AM Best has downgraded the Financial Strength Rating to C from C+ and the Long-Term Issuer Credit Rating to ?ccc+? from ?b-? of Atlanta Life Insurance Company. The ratings reflect ALIC?s balance sheet strength, which AM Best assesses as weak, as well as its weak operating performance, very limited business profile and weak enterprise risk management.
Kroll Bond Rating Agency releases the March 2021 issue of CMBS Trend Watch. CMBS private label pricing volume ended the month of March at $6.6 billion, bringing the year-to-date issuance total to $15.2 billion. In March, KBRA published pre-sales for six deals including two conduits, one Freddie Mac K-Series, and three CRE CLOs.
Automated Financial Systems, Inc. announced that AFS Level III? and AFSVision? are ready for all four SOFR rate methods, as well as processing multiple alternative rates (ex., Ameribor, Bloomberg Short-term Bank Yield Index, Fed Funds, and Prime Rate).
AM Best has upgraded the Long-Term Issuer Credit Rating to ?bbb+? from ?bbb? and affirmed the Financial Strength Rating of B++ of Farmers Fire Insurance Company.The outlook for the Long-Term ICR has been revised to stable from positive while the outlook for the FSR is stable.
State Street Global Advisors, the asset management business of State Street Corporation (STT), today announced the launch of the SPDR Bloomberg Barclays Emerging Markets USD Bond ETF. The fund was developed to provide exposure to US dollar-denominated debt issued by sovereign and quasi-sovereign emerging market issuers.
80 percent of U.S. consumers are seeking value and 52% are shopping at everyday low price stores Walmart, Aldi, Kroger and Amazon named top retailers for value dunnhumby, the global leader in customer data science, today released findings from a year-long worldwide study of the impact of COVID-19 on customer attitudes and behavior across 22 countries. This press release features multimedia.
Bloomin? Brands, Inc. today announced the pricing on April 6, 2021 of its offering of $300.0 million aggregate principal amount of 5.125% senior unsecured notes due 2029 in a private offering only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A and to non-U.S. persons outside the United States in reliance on Regulation S under the Securities Act of 1933...
Liberty TripAdvisor Holdings, Inc. (LTRPA) announced today that it issued and sold an additional $30 million aggregate principal amount of its 0.50% exchangeable senior debentures due 2051 pursuant to the exercise in full by the initial purchasers of their option to purchase additional Debentures in connection with the previously announced private offering of up to $330 million aggregate original princ...
Merck (MRK), known as MSD outside the United States and Canada, announced today that Organon Finance 1 LLC plans to offer, subject to market conditions, euro-denominated senior secured notes due 2028, U.S. dollar-denominated senior secured notes due 2028 and U.S. dollar-denominated senior unsecured notes due 2031, in connection with the previously announced spinoff of Organon & Co. from Merck.
Kroll Bond Rating Agency assigns a long-term rating of AA with a Stable Outlook to the Fort Wayne-Allen County Airport Authority General Obligation Bonds of 2021 and Tax-Exempt Private Activity General Obligation Bonds of 2021. Key Credit Considerations KBRA continues to monitor the direct and indirect impacts of the COVID-19 virus. Credit Positives. Credit Challenges.
The Federal Reserve today announced an industry-recommended definition of synthetic identity fraud, which was developed by a focus group of fraud experts in response to a widespread issue: differing definitions in use make it difficult to identify and address this type of fraud.
AM Best has assigned a Long-Term Issue Credit Rating of ?bbb+? to Intact Financial Corporation?s [TSX: IFC] recently announced CAD 250 million 4.125 % fixed to fixed rate subordinated notes due 2081.
Cenlar FSB, the nation?s leading mortgage loan subservicer and federally chartered wholesale bank, has received Fannie Mae?s Servicer Total Achievement and Rewards? performer recognition for the 2020 STAR Program in the General Servicing category. The STAR Program recognizes top performing mortgage servicers that provide outstanding customer service and overall operational excellence.
Bloomin? Brands, Inc. today announced its intention to offer, subject to market and other conditions, $300.0 million aggregate principal amount of senior unsecured notes due 2029 in a private offering only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A and to non-U.S. persons outside the United States in reliance on Regulation S under the Securities Ac...
1 ct. RAPI +1.5% in March Diamond market sentiment was positive in March as US demand and the gradual return of Chinese traders supported buying activity. Polished price trends were mixed.
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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