BBB

KBRA Assigns Rating to Blue Owl Technology Finance Corp. II's $700 Million Senior Unsecured Notes

Retrieved on: 
Thursday, March 28, 2024
Banking, Professional Services, Insurance, Finance, Risk management, Growth, BBB, Risk, Application software, System, Business Development Company, BDC, KBRA, Diversification, Blue Owl Capital, Investment, AUM, RIC, OTF, Bank

KBRA assigns a rating of BBB to Blue Owl Technology Finance Corporation II’s (“OTF II” or “the company”) $700 million, 6.750% senior unsecured notes due 2029.

Key Points: 
  • KBRA assigns a rating of BBB to Blue Owl Technology Finance Corporation II’s (“OTF II” or “the company”) $700 million, 6.750% senior unsecured notes due 2029.
  • OTF II’s growth capital portfolio comprised 13.2% of the investment portfolio and had a weighted average enterprise value of $12.8 billion.
  • The company is managed by Blue Owl Technology Credit Advisors II LLC, an affiliate Blue Owl Capital, Inc., which had approximately $165+ billion of AUM as of December 31, 2023.
  • The company’s investment strategy coincides with the strategy of Blue Owl Technology Finance Corp. (KBRA Issuer/Senior Unsecured Debt ratings of BBB/Stable Outlook) and Blue Owl Technology Income Corp. (KBRA Issuer/Senior Unsecured Debt ratings of BBB/Stable Outlook).

Orbia Releases Annual Impact Report, Highlighting Strong Progress on Sustainability-Driven Agenda

Retrieved on: 
Monday, March 25, 2024
Building Systems, Chemicals, Plastics, Environmental, Social and Governance (ESG), Alternative Energy, Construction & Property, Energy, Sustainability, Manufacturing, Technology, Professional Services, Agritech, Environment, Agriculture, Natural Resources, Urban Planning, Other Manufacturing, UN, Tania, EV, PVC, Dow Jones, DJSI, Science Based Targets initiative, Sanitation, BMV, EVP, BBB, Recycling, EVS, Partnership, Woman, United, Lithium hexafluorophosphate, PVDF, Materiality, United Nations, Female, Corporate Affairs, Science, Carbon, WASH, Gold, Water, Gold medal, Targets, Sustainable Development Goals, Renewable energy

de C.V. (BMV: ORBIA*) released its 15th annual Impact Report , which encompasses the company’s overall business performance as well as key accomplishments in advancing life around the world.

Key Points: 
  • de C.V. (BMV: ORBIA*) released its 15th annual Impact Report , which encompasses the company’s overall business performance as well as key accomplishments in advancing life around the world.
  • “Amidst challenging conditions and a changing global landscape, Orbia remains committed to its purpose to advance life around the world.
  • Orbia’s strong progress toward its impact goals continues to receive accolades.
  • To read the full 2023 Impact Report, visit the reporting hub here: https://sustainability.orbia.com/ .

KBRA Assigns Ratings to Provident Financial Services, Inc.

Retrieved on: 
Monday, March 25, 2024
Banking, Professional Services, Insurance, Finance, BBB, Provident Bank, Risk, NCO, ESG, Tenant, Provident, CRE, Acquisition, Capital, KBRA, Outlook, NIM, PFS, Telescopic sight

KBRA assigns a senior unsecured debt rating of BBB+, a subordinated debt rating of BBB, and a short-term debt rating of K2 to Iselin, New Jersey-based Provident Financial Services, Inc. (NYSE: PFS) ("Provident" or "the company").

Key Points: 
  • KBRA assigns a senior unsecured debt rating of BBB+, a subordinated debt rating of BBB, and a short-term debt rating of K2 to Iselin, New Jersey-based Provident Financial Services, Inc. (NYSE: PFS) ("Provident" or "the company").
  • In addition, KBRA assigns deposit and senior unsecured debt ratings of A-, a subordinated debt rating of BBB+, and short-term deposit and debt ratings of K2 to its main subsidiary, Provident Bank.
  • Provident’s ratings are supported by its well-executed banking model that has been implemented by an experienced management team, which has produced favorable long-term performance through various economic and interest rate cycles.
  • Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com .

KBRA Affirms Air Lease’s A- Issuer, Senior Unsecured Debt Ratings and BBB Preferred Share Rating with Stable Outlook and Assigns A- Rating to Air Lease’s Medium-Term Notes

Retrieved on: 
Friday, March 22, 2024
Professional Services, Finance, Growth, Air Lease Corporation, Original equipment manufacturer, BBB, Air travel, Risk, Travel, KBRA, Air Lease, Outlook, Atmosphere, Sukuk, Aircraft, Atmosphere of Earth, Security (finance)

KBRA also affirms the A- rating of the Sukuk trust certificates issued by Air Lease Corporation Sukuk Limited.

Key Points: 
  • KBRA also affirms the A- rating of the Sukuk trust certificates issued by Air Lease Corporation Sukuk Limited.
  • In addition, KBRA assigns a senior unsecured rating of A- to €600.0 million 3.70% Medium-Term Notes, Series A, due April 15, 2030.
  • The issuer and senior unsecured ratings of Air Lease are driven by the company’s global franchise, leading market position and highly experienced management team with deep relationships with airlines and OEMs.
  • The Stable Outlook reflects AL’s resilient performance through the pandemic-driven severe downturn and the aftermath from the Russian-Ukraine conflict.

Hercules Capital Receives Confirmed BBB Investment Grade Rating with Revised Outlook to Positive from Morningstar DBRS

Retrieved on: 
Thursday, March 21, 2024
Professional Services, Finance, Capital, Growth, DBRS, Ecosystem, BBB, Financial services

Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”), 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 Morningstar DBRS (“DBRS”) has confirmed Hercules’ investment grade credit and corporate rating of BBB with a trend revision from Stable to Positive, as well as its underlying analysis.

Key Points: 
  • Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”), 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 Morningstar DBRS (“DBRS”) has confirmed Hercules’ investment grade credit and corporate rating of BBB with a trend revision from Stable to Positive, as well as its underlying analysis.
  • “We are very pleased that DBRS has confirmed our BBB investment grade credit and corporate rating and revised the outlook to positive,” stated Seth Meyer, chief financial officer of Hercules.
  • Historical credit performance has been strong, underpinned by a well-designed risk management framework, and demonstrated solid underwriting and portfolio monitoring performance across multiple economic cycles.
  • The Company also has a broad, diversified funding profile and conservative regulatory leverage.

Intranasal Delivery of shRNA Edits to Silence 5-HT2A Receptor Shows Promise in Enhancing Memory and Alleviating Anxiety

Retrieved on: 
Thursday, March 21, 2024
Science, Biotechnology, Research, Pharmaceutical, Health, Mental Health, Genetics, Clinical Trials, Depression, Brain, Dementia, Rat, BBB, Memory, Central nervous system, Public, RNA, Mouse, Traffic barrier, Anxiety, Translational Psychiatry, MCI, Neurological disorder, DSM-IV codes, HTR2A, Intrinsic termination, Therapy, Optimism, Cas9, Vaccine

In a groundbreaking study, they successfully used a non-invasive intranasal delivery platform to administer short-hairpin RNA (shRNA) that targets the 5-HT2A receptor resulting in long-lasting improvements in memory and reduced anxiety in animal models.

Key Points: 
  • In a groundbreaking study, they successfully used a non-invasive intranasal delivery platform to administer short-hairpin RNA (shRNA) that targets the 5-HT2A receptor resulting in long-lasting improvements in memory and reduced anxiety in animal models.
  • Neurological disorders such as Mild Cognitive Impairment (MCI), depression, and anxiety disorders pose significant challenges to public health worldwide.
  • In this study, the researchers designed shRNA sequences to specifically target and silence the human HTR2A gene, which is associated with anxiety and memory.
  • The ability to bypass the blood-brain barrier using intranasal delivery opens up new avenues for precision-based therapeutics in neurological disorders."

KBRA Assigns Ratings to AG Twin Brook Capital Income Fund's $240 Million Senior Unsecured Notes Due 2027 and 2029

Retrieved on: 
Wednesday, March 20, 2024
Banking, Professional Services, Finance, Uncertainty, Pressure, Risk management, BBB, Risk, KBRA, BDC, Investment, AUM, Outlook, Health care, TCAP, RIC

KBRA assigns a BBB rating to AG Twin Brook Capital Income Fund's ("TCAP" or "the company") $90 million, 7.69% senior unsecured notes due March 19, 2027, and its $150 million, 7.78% senior unsecured notes due March 19, 2029.

Key Points: 
  • KBRA assigns a BBB rating to AG Twin Brook Capital Income Fund's ("TCAP" or "the company") $90 million, 7.69% senior unsecured notes due March 19, 2027, and its $150 million, 7.78% senior unsecured notes due March 19, 2029.
  • The proceeds will be used for general corporate purposes and to pay down secured credit facilities.
  • TPG Angelo Gordon provides the company with robust deal sourcing, a strong sponsor network, and extensive banking relationships.
  • Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com .

Sangamo Therapeutics Reports Recent Business Highlights and Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Wednesday, March 13, 2024
Health, Neurology, Genetics, Clinical Trials, Pharmaceutical, Biotechnology, STAC, Gene, Orphan drug, ALTA, Haemophilia A, BBB, Patient, Health care, Quality of life, IND, Male, ERT, Investment, Therapy, Fabry disease, Plasma, Kite, Gene expression, Partnership, Central nervous system, Novartis, CNS, Pivotal, EMA, Prion, STAAR, Enzyme replacement therapy, Biogen, Tauopathy, Workforce, BLA, AAV, Sanofi, Research, DRG, Neuron, Hematology, FDA, DSM-IV codes, Brain, Sangamo Therapeutics, MAA, Haemophilia, CTA, Mouse, Female, Traffic barrier, Sodium, MHRA, Excipient, Society, Spinal cord, Toxicology, Sigma-Aldrich, Liver, Pharmaceutical industry

Sangamo Therapeutics, Inc. (Nasdaq: SGMO), a genomic medicines company, today reported recent business highlights and fourth quarter and full year 2023 financial results, including meaningful data to support advancement of its neurology pipeline.

Key Points: 
  • Sangamo Therapeutics, Inc. (Nasdaq: SGMO), a genomic medicines company, today reported recent business highlights and fourth quarter and full year 2023 financial results, including meaningful data to support advancement of its neurology pipeline.
  • “In 2023, Sangamo announced the prioritization of its pipeline programs that support our focus as a neurology-focused genomic medicine company,” said Sandy Macrae, Chief Executive Officer of Sangamo.
  • STAC-BBB was well tolerated in NHPs, with no notable treatment related pathological findings in brain, spinal cord or peripheral tissues.
  • Revenues for the fourth quarter ended December 31, 2023 were $2.0 million, compared to $27.2 million for the same period in 2022.

Sangamo Therapeutics Announces Data From Novel Proprietary Neurotropic AAV Capsid Demonstrating Industry-leading Blood-brain Barrier Penetration and Brain Transduction in NHPs

Retrieved on: 
Wednesday, March 13, 2024
Research, Neurology, Genetics, Clinical Trials, Health, Pharmaceutical, General Health, Other Science, Science, STAC, AAV, Sangamo Therapeutics, Gene, Brain, Capsid, Gene expression, ALS, BBB, Central nervous system, Novartis, CNS, CTA, DRG, Traffic barrier, Prion, NHP, Tropism, IND, Nav1.7, Neuron, Biogen, Tauopathy, Excipient, Therapy, DSM-IV codes, Spinal cord, Liver, Animal, Vaccine

Sangamo is exploring avenues to resume development of these programs internally, subject to receipt of adequate funding, or with new potential collaborators.

Key Points: 
  • Sangamo is exploring avenues to resume development of these programs internally, subject to receipt of adequate funding, or with new potential collaborators.
  • In NHP studies when administered intravenously at clinically relevant doses, STAC-BBB demonstrated its potential to be a leading neurotropic capsid.
  • Exhibited 700-fold higher transgene expression in neurons compared to the benchmark capsid AAV9 and outperformed all other known published neurotropic capsid variants evaluated in the study.
  • STAC-BBB was well tolerated in NHPs, with no notable treatment related pathological findings in brain, spinal cord or peripheral tissues.

PowerPay Completes $118.9 Million Asset-Backed Securitization to Further Growth

Retrieved on: 
Thursday, April 4, 2024
Chartway Federal Credit Union, Growth, BBB, Partnership, Jules Kroll, Sale, KBRA, Insurance, ABS, Credit union, Physician, Bank

PHILADELPHIA, April 4, 2024 /PRNewswire/ -- PowerPay, a leading fintech company specializing in real-time lending and payment solutions for contractors and physicians announced the closing of their inaugural securitization obtained by home improvement and elective medical loans, and a 144A transaction rated by KBRA.

Key Points: 
  • This is PowerPay's first securitization (PWRP 2024-1).
  • The Company partnered with CapitalOne Securities and Chartway Federal Credit Union, Virginia Beach, VA to achieve this milestone.
  • "The transaction provides the Company a securitization program that will allow us to obtain access to capital markets while providing a diversified funding source to fuel continued growth for the foreseeable future," said Mike Petrakis, PowerPay Founder & CEO.
  • The securitization, totaling approximately $118 million and issued as PWRP 2024-1, consists of Class A, B, and C notes with ratings of A-, BBB, and BB-, respectively, from Kroll Bond Rating Agency.