Bond credit rating

Hercules Capital Completes Investment Grade Bond Offering of $50.0 Million of 4.55% Notes due March 2026

Thursday, March 4, 2021 - 9:21pm

Hercules Capital, Inc. (NYSE: HTGC) (Hercules or the Company) today announced the completed issuance of a private offering in aggregate principal amount of $50.0 million 4.55% Notes due March 2026 (the March B Notes).

Key Points: 
  • Hercules Capital, Inc. (NYSE: HTGC) (Hercules or the Company) today announced the completed issuance of a private offering in aggregate principal amount of $50.0 million 4.55% Notes due March 2026 (the March B Notes).
  • On November 4, 2020, the Company completed the initial issuance of $50.0 million 4.50% Notes due March 4, 2026, which were initially assigned a BBB+ rating by Kroll Bond Rating Agency.
  • The issuance of $50.0 million of the March Notes occurred on March 4, 2021.
  • In addition, Hercules has two retail bond issuances of 5.25% Notes due 2025 (NYSE: HCXZ) and 6.25% Notes due 2033 (NYSE: HCXY).

KBRA Assigns Preliminary Ratings to NMEF Funding 2021-A

Thursday, March 4, 2021 - 7:40pm

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to five classes of notes issued by NMEF Funding 2021-A, LLC (NMEF 2021-A).

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to five classes of notes issued by NMEF Funding 2021-A, LLC (NMEF 2021-A).
  • NMEF 2021-A represents North Mill Equipment Finance LLCs (North Mill or the Company) fourth equipment ABS.
  • Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

KBRA Assigns Preliminary Ratings to Loanpal Solar Loan 2021-2 Ltd. and Loanpal Solar Loan 2021-2 LLC

Thursday, March 4, 2021 - 7:28pm

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

Key Points: 
  • Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above.
  • Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.
  • Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

AM Best Assigns Issuer Credit Rating to The Northwestern Mutual Life Insurance Company’s Funding Agreement-Backed Notes Program

Wednesday, March 3, 2021 - 4:30pm

AM Best has assigned a Long-Term Issuer Credit Rating of aaa to Northwestern Mutual Global Funding (DE).

Key Points: 
  • AM Best has assigned a Long-Term Issuer Credit Rating of aaa to Northwestern Mutual Global Funding (DE).
  • Concurrently, AM Best has assigned a Long-Term Issue Rating of aaa to the $750 million, .375% senior secured notes, due Jan. 14, 2026, issued under Northwestern Mutual Global Fundings $10.0 billion funding agreement-backed notes program.
  • The ratings of The Northwestern Mutual Life Insurance Company (Northwestern Mutual) and its subsidiary, Northwestern Long Term Care Insurance Company, remain unchanged.
  • The notes are backed by Northwestern Mutual-issued funding agreements held by Northwestern Mutual Global Funding.

KBRA Assigns Ratings to Flagship Citadel Multi-Strategy Hedge Funds

Monday, March 1, 2021 - 6:44pm

This credit rating is endorsed by Kroll Bond Rating Agency Europe Limited for use in the European Union and by Kroll Bond Rating Agency UK Limited for use in the UK.

Key Points: 
  • This credit rating is endorsed by Kroll Bond Rating Agency Europe Limited for use in the European Union and by Kroll Bond Rating Agency UK Limited for use in the UK.
  • Information on a credit ratings endorsement status is available on its rating page at KBRA.com.
  • Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

KBRA Assigns Preliminary Ratings to PFP 2021-7

Monday, March 1, 2021 - 3:44pm

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

Key Points: 
  • Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above.
  • Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com .
  • Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

KBRA Assigns Preliminary Ratings to GCAT 2021-NQM1 Trust (GCAT 2021-NQM1)

Friday, February 26, 2021 - 7:11pm

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

Key Points: 
  • Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above.
  • Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com .
  • Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

ESG Concerns In Oil And Gas Sectors Led To A Surge In Downgrade Pressure In January, Report Finds

Thursday, February 25, 2021 - 4:29pm

This was owing to environmental, social, and government (ESG) concerns as many governments formally endorse adoption and transition to renewable energy alternatives.

Key Points: 
  • This was owing to environmental, social, and government (ESG) concerns as many governments formally endorse adoption and transition to renewable energy alternatives.
  • Specifically, this led to nine issuers on our list being placed on CreditWatch with negative implications, temporarily boosting downgrade pressure, which has largely subsided since.
  • Downgrade risk continues to soften in the two sectors as we anticipate a deceleration in the pace of downgrades this year, though it remains elevated.
  • Potential downgrades are issuers rated 'AAA' to 'B-' by S&P Global Ratings with either negative rating outlooks or ratings on CreditWatch with negative implications.

KBRA Assigns Preliminary Ratings to Business Jet Securities 2021-1, LLC, Secured Notes, Series 2021-1

Tuesday, February 23, 2021 - 7:05pm

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

Key Points: 
  • Further disclosures relating to this rating action are available in the U.S. Information Disclosure Form referenced above.
  • Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.
  • Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

KBRA Assigns Preliminary Ratings to Taurus 2021-2 SP DAC

Tuesday, February 23, 2021 - 6:59pm

Kroll Bond Rating Agency UK Limited (KBRA) is pleased to announce the assignment of preliminary ratings to five classes of Taurus 2021-2 SP DAC, a CMBS single-borrower securitisation.

Key Points: 
  • Kroll Bond Rating Agency UK Limited (KBRA) is pleased to announce the assignment of preliminary ratings to five classes of Taurus 2021-2 SP DAC, a CMBS single-borrower securitisation.
  • Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.
  • Kroll Bond Rating Agency UK is located at Augustine House, Austin Friars, London, EC2N 2HA, United Kingdom.