Credit rating agencies

KBRA Assigns Ratings to Carvana Auto Receivables Trust 2020-N1

Monday, March 30, 2020 - 8:29pm

Kroll Bond Rating Agency (KBRA) assigns ratings to five classes of notes issued by Carvana Auto Receivables Trust 2020-N1 (CRVNA 2020-N1), an auto loan ABS Transaction.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns ratings to five classes of notes issued by Carvana Auto Receivables Trust 2020-N1 (CRVNA 2020-N1), an auto loan ABS Transaction.
  • In 2012, DriveTime Automotive Group Inc. (DriveTime) launched Carvana, an eCommerce platform for buying used vehicles.
  • Initially launched in Atlanta, Georgia, Carvana has expanded nationally and is now operating in 161 markets.
  • KBRA is a full-service credit rating agency registered as an NRSRO with the U.S. Securities and Exchange Commission.

KBRA Europe Places Seven SBOLT Classes of Notes On Watch Owing To COVID-19 Performance Concerns

Monday, March 30, 2020 - 5:05pm

Further disclosures relating to this rating action are available in the EU Information Disclosure Form referenced above.

Key Points: 
  • Further disclosures relating to this rating action are available in the EU Information Disclosure Form referenced above.
  • Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com .
  • KBRA Europe is a full-service credit rating agency (CRA) registered with the European Securities and Markets Authority (ESMA).
  • Kroll Bond Rating Agency Europe Limited is located at 6-8 College Green, Dublin 2, Ireland.

KBRA Releases Report – 10 U.S. Small Business ABS Deals on Watch Downgrade Due to COVID-19 Concerns

Monday, March 30, 2020 - 4:23pm

Kroll Bond Rating Agency (KBRA) releases a report detailing its placement of all its outstanding ratings from 10 U.S. Small Business ABS transactions on Watch Downgrade status owing to the economic effects of the coronavirus disease (COVID-19).

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases a report detailing its placement of all its outstanding ratings from 10 U.S. Small Business ABS transactions on Watch Downgrade status owing to the economic effects of the coronavirus disease (COVID-19).
  • Small businesses in the United States are directly impacted by COVID-19 containment measures and their hardship is contributing to a broader economic slowdown.
  • Because of these recent and ongoing events and from information gathered from frequent calls with originators and servicers of small business lending products, KBRA expects these U.S. Small Business ABS transactions to be negatively impacted.
  • KBRA is a full-service credit rating agency registered as an NRSRO with the U.S. Securities and Exchange Commission.

KBRA Releases Research - Coronavirus (COVID-19): Questions Regarding the Impact on Project Finance and Infrastructure

Monday, March 30, 2020 - 2:58pm

Kroll Bond Rating Agency (KBRA) publishes a research report on the impact that the coronavirus (COVID-19) will potentially have on projects within the project finance and infrastructure (PF&I) sector, as KBRAs Project Finance group has received numerous questions over the past two weeks.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) publishes a research report on the impact that the coronavirus (COVID-19) will potentially have on projects within the project finance and infrastructure (PF&I) sector, as KBRAs Project Finance group has received numerous questions over the past two weeks.
  • KBRA believes that sectors exposed to market demand will experience the greatest volatility.
  • While the most obvious question is what impact the pandemic will have on individual credits, there have been other questions that are more general.
  • KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.

ESMA publishes call for evidence on credit rating information and data

Monday, March 30, 2020 - 1:03pm

30 March 2020

Key Points: 
  • 30 March 2020

    Credit Rating Agencies

    The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, has published a call for evidence on the availability and use of credit rating information and data.

  • The purpose of this call for evidence is to gather information on the specific uses of credit ratings as well as how the users of credit ratings are currently accessing this information.
  • ESMA aims, for each activity such as risk management, market research and regulatory reporting, to identify users specific rating data needs (e.g.
  • The call for evidence is open until 3 August 2020 and input is welcomed from all interested stakeholders, including users of credit ratings such as public authorities and financial market participants, credit rating agencies as well as distributors of credit rating data.

CleverTap and Dun & Bradstreet Lead Mobile Marketing Discussions at Engage to Grow Summit in the Middle East

Monday, March 30, 2020 - 12:15am

"Brand leaders are increasingly looking to engage consumers and build a better strategy for retaining end-users," said Almitra Karnik, head of marketing, CleverTap.

Key Points: 
  • "Brand leaders are increasingly looking to engage consumers and build a better strategy for retaining end-users," said Almitra Karnik, head of marketing, CleverTap.
  • The one-day summit offered insights from key CleverTap executives, as well as leaders from Network International and JOIGIFTS.com.
  • In addition, panel discussions looked at the journey from customer engagement to brand advocacy and business growth strategies that have been most effective in the Middle East.
  • Since 1841, companies of every size have relied on Dun & Bradstreet to help them manage risk and reveal opportunity.

KBRA Releases Research – Coronavirus (COVID-19): U.S. RMBS and Residential Real Estate Ramifications

Friday, March 27, 2020 - 8:42pm

Kroll Bond Rating Agency (KBRA) releases a report detailing considerations relevant to the U.S. RMBS ratings process, given the current status of the coronavirus (COVID-19) outbreak.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases a report detailing considerations relevant to the U.S. RMBS ratings process, given the current status of the coronavirus (COVID-19) outbreak.
  • A summary of KBRAs discussions with front-line market participants including mortgage servicers, RMBS sponsors, and mortgage insurance companies.
  • Discussions on how KBRAs approach to rating RMBS considers current information and how this may evolve over time.
  • KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.

ViacomCBS Announces $2.5 Billion Debt Offering

Friday, March 27, 2020 - 8:42pm

ViacomCBS intends to use the net proceeds from the offering for general corporate purposes, which may include repayment of outstanding indebtedness.

Key Points: 
  • ViacomCBS intends to use the net proceeds from the offering for general corporate purposes, which may include repayment of outstanding indebtedness.
  • The joint book-running managers for the offering are BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC.
  • ViacomCBS senior unsecured debt is currently rated BBB (stable) by Fitch Ratings, Baa2 (stable) by Moodys Investors Service and BBB (negative) by S&P Global Ratings.
  • In addition to offering innovative streaming services and digital video products, ViacomCBS provides powerful capabilities in production, distribution and advertising solutions for partners on five continents.

KBRA Releases Research – Coronavirus (COVID-19): Mass Transit Bonds Backed by Sales Taxes and Gross Revenues Are a Mixed Bag

Friday, March 27, 2020 - 7:31pm

KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.

Key Points: 
  • KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.
  • In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) with the European Securities and Markets Authority (ESMA).
  • Kroll Bond Rating Agency Europe Limited is located at 6-8 College Green, Dublin 2, Ireland.

AM Best Assigns Issue Credit Rating to American Financial Group, Inc.’s New Senior Unsecured Notes

Friday, March 27, 2020 - 6:32pm

AM Best has assigned a Long-Term Issue Credit Rating of a- to the new $300 million 5.25% 10-year senior unsecured notes due April 2030 recently issued by American Financial Group, Inc. (AFG) (Cincinnati, OH) [NYSE: AFG].

Key Points: 
  • AM Best has assigned a Long-Term Issue Credit Rating of a- to the new $300 million 5.25% 10-year senior unsecured notes due April 2030 recently issued by American Financial Group, Inc. (AFG) (Cincinnati, OH) [NYSE: AFG].
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .
  • For information on the proper media use of Bests Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Bests Credit Ratings and AM Best Rating Action Press Releases .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.