Fitch Ratings

MassMutual Reports Strong 2023 Financial Results Fueled by Company Records

Retrieved on: 
Monday, March 4, 2024
Insurance, Professional Services, Moody's Investors Service, Superior, DEI, Invesco, Investment, Record, MassMutual, HRC, Growth, Barings LLC, High, Rothesay, Fitch Ratings, Life, S&P Global Ratings, Policy, Human Rights Campaign, Uncertainty, Display resolution

MassMutual today reported strong financial results1 for 2023.

Key Points: 
  • MassMutual today reported strong financial results1 for 2023.
  • 1 These are consolidated statutory results of Massachusetts Mutual Life Insurance Company and its U.S.-domiciled life insurance subsidiaries: C.M.
  • Life Insurance Company, MML Bay State Life Insurance Company and MassMutual Ascend Life Insurance Company.
  • Life Insurance Company and MML Bay State Life Insurance Company, are as follows: A.M. Best Company, A++ (Superior); Fitch Ratings, AA+ (Very Strong); Moody's Investors Service, Aa3 (High Quality); and S&P Global Ratings, AA+ (Very Strong).

Independence Realty Trust Receives Investment Grade Credit Rating from Fitch

Retrieved on: 
Monday, March 4, 2024
REIT, Finance, Professional Services, Residential Building & Real Estate, Construction & Property, BBB, Portfolio optimization, Growth, LP, IRT, Fitch Ratings, Risk management

Independence Realty Trust, Inc. (NYSE: IRT) (“IRT” or the “Company”) announced today that the Company received an investment grade rating from Fitch Ratings (“Fitch”).

Key Points: 
  • Independence Realty Trust, Inc. (NYSE: IRT) (“IRT” or the “Company”) announced today that the Company received an investment grade rating from Fitch Ratings (“Fitch”).
  • Fitch has assigned a Long-Term Issuer Default Rating of ‘BBB’ to IRT with a stable outlook.
  • In addition, Fitch has assigned a rating of ‘BBB’ to the company's subsidiary, Independence Realty Operating Partnership, LP and its senior unsecured debt, which includes credit facilities and unsecured term loans.
  • “We’re proud to have achieved an investment grade credit rating, a significant milestone for IRT,” said Scott Schaeffer, Chairman and Chief Executive Officer of IRT.

Virtus Convertible & Income Fund II Announces Quarterly Distribution: 5.500% Series A Cumulative Preferred Shares

Retrieved on: 
Friday, March 1, 2024
Asset Management, Professional Services, Finance, NCZ, Fitch Ratings

Virtus Convertible & Income Fund II (NYSE: NCZ) announced today that it has declared a $0.34375 per share cash distribution payable on March 29, 2024 to Series A cumulative preferred shareholders of record on March 11, 2024.

Key Points: 
  • Virtus Convertible & Income Fund II (NYSE: NCZ) announced today that it has declared a $0.34375 per share cash distribution payable on March 29, 2024 to Series A cumulative preferred shareholders of record on March 11, 2024.
  • The Series A Cumulative Preferred Shares, which trade on the New York Stock Exchange under the symbol NCZ PR A, are rated “A” by Fitch Ratings and have an annual dividend rate of $1.375 per share.
  • The 4,360,000 Series A Cumulative Preferred Shares were issued September 11, 2018 at $25.00 per share and pay distributions quarterly.
  • The Series A Cumulative Preferred Shares are now callable at any time at the liquidation value of $25.00 per share plus accrued dividends.

Virtus Convertible & Income Fund Announces Quarterly Distribution: 5.625% Series A Cumulative Preferred Shares

Retrieved on: 
Friday, March 1, 2024
Banking, Professional Services, Finance, NCV, Fitch Ratings

Virtus Convertible & Income Fund (NYSE: NCV) announced today that it has declared a $0.3515625 per share cash distribution payable on March 29, 2024 to Series A cumulative preferred shareholders of record on March 11, 2024.

Key Points: 
  • Virtus Convertible & Income Fund (NYSE: NCV) announced today that it has declared a $0.3515625 per share cash distribution payable on March 29, 2024 to Series A cumulative preferred shareholders of record on March 11, 2024.
  • The Series A Cumulative Preferred Shares, which trade on the New York Stock Exchange under the symbol NCV PR A, are rated “A” by Fitch Ratings and have an annual dividend rate of $1.40625 per share.
  • The 4,000,000 Series A Cumulative Preferred Shares were issued September 20, 2018 at $25.00 per share and pay distributions quarterly.
  • The Series A Cumulative Preferred Shares are now callable at any time at the liquidation value of $25.00 per share plus accrued dividends.

dv01 and Fitch Ratings Launch Fitch-dv01 Non-Agency RMBS Benchmarks

Retrieved on: 
Wednesday, February 21, 2024
Technology, Construction & Property, Finance, Fintech, Banking, Professional Services, Data Analytics, Data Management, Residential Building & Real Estate, Acquisition, Opacity, FICO, Bond, Performance, Research, Growth, LTV, Fitch Ratings, Data, LDA, DTI, Fitch, Risk, RMBS, Benchmarking, Environment

dv01 , a leading capital markets fintech company, has today announced a strategic collaboration with Fitch Ratings , a globally recognized leader in credit ratings and research, to enhance RMBS benchmark offerings.

Key Points: 
  • dv01 , a leading capital markets fintech company, has today announced a strategic collaboration with Fitch Ratings , a globally recognized leader in credit ratings and research, to enhance RMBS benchmark offerings.
  • The Fitch-dv01 Non-Agency RMBS Benchmarks constitute two benchmarks that focus on Non-QM and Prime Jumbo markets, aiming to redefine market analysis with the most comprehensive representation.
  • This announcement marks the second initiative in a series of collaborations between dv01 and Fitch Ratings, following Fitch Group’s acquisition of the capital markets fintech company.
  • The Fitch-dv01 Non-Agency RMBS Benchmarks bring a new level of transparency, providing stakeholders with unprecedented insights into the intricate details of the non-agency mortgage markets.

NextEra Energy Capital Holdings announces offering of its Series Q junior subordinated debentures

Retrieved on: 
Tuesday, February 27, 2024
Paper, Moody's Investors Service, Prospectus, NextEra Energy Partners, Weather, Multimedia, Florida Power & Light, Ethics, NextEra Energy, Epidemic, Investment, Form 10-K, News, Transport, Growth, Terrorism, Natural gas, Sale, Nature, Fortune 500, Projection, Fitch Ratings, Annual report, Communication, Risk, Pandemic, S&P Global Ratings, Health, Interest, Nuclear Regulatory Commission, Policy, Public expenditure, Electricity, Uncertainty, NextEra Energy Resources, Insurance, Failure, Wind, Security (finance)

JUNO BEACH, Fla. , Feb. 27, 2024 /PRNewswire/ -- NextEra Energy Capital Holdings, Inc., a subsidiary of NextEra Energy, Inc. (NYSE: NEE), today announced an offering of its Series Q junior subordinated debentures due Sept. 1, 2054, (the "junior subordinated debentures") in an underwritten public offering.

Key Points: 
  • JUNO BEACH, Fla. , Feb. 27, 2024 /PRNewswire/ -- NextEra Energy Capital Holdings, Inc., a subsidiary of NextEra Energy, Inc. (NYSE: NEE), today announced an offering of its Series Q junior subordinated debentures due Sept. 1, 2054, (the "junior subordinated debentures") in an underwritten public offering.
  • NextEra Energy Capital Holdings, at its option, may redeem some or all of the junior subordinated debentures at the times and prices described in the prospectus supplement.
  • The junior subordinated debentures will be guaranteed by NextEra Energy Capital Holdings' parent company, NextEra Energy.
  • NextEra Energy expects the credit rating agencies (S&P Global Ratings, Moody's Investors Service and Fitch Ratings) to ascribe 50% equity credit to the junior subordinated debentures in the calculation of its credit metrics.

Agibank reports net income of R$430.1 million in 2023 and ROE of 33.8%

Retrieved on: 
Tuesday, February 20, 2024
Bank, NII, Local, Growth, Perception, Fitch Ratings

The Company achieved a net income of R$430.1 million, which represents an increase of 325.5% compared to 2022.

Key Points: 
  • The Company achieved a net income of R$430.1 million, which represents an increase of 325.5% compared to 2022.
  • In the last quarter of 2023 alone, net income reached R$145.5 million and operating result R$193.3 million, an increase of 5.7% and 14.2% compared to the previous quarter, respectively.
  • In the year, operating income reached R$606.0 million, an increase of 372.8% compared to last year.
  • Agibank ended 2023 with a Net Interest Income (NII) of R$3.0 billion, an increase of 39.4% compared to 2022.

EQS-News: Multitude SE: Fitch Revises Multitude's Outlook to Positive; Affirms IDR at B+

Retrieved on: 
Thursday, February 15, 2024
European, Fintech, Outlooks, RR6, Woodwind instrument, WKN, Fitch Ratings, IDR

Multitude SE: Fitch Revises Multitude's Outlook to Positive; Affirms IDR at B+

Key Points: 
  • Multitude SE: Fitch Revises Multitude's Outlook to Positive; Affirms IDR at B+
    The issuer is solely responsible for the content of this announcement.
  • Multitude SE: Fitch Revises Multitude's Outlook to Positive; Affirms IDR at B+
    Helsinki, 15 February 2024 – Multitude SE, a listed European FinTech company, offering digital lending and online banking services to consumers, small and medium-sized businesses, and other FinTechs (ISIN: FI4000106299, WKN: A1W9NS) (“Multitude” or “Company”) announces that Fitch Ratings has revised Multitude SE's and its fully-owned operating bank Multitude Bank plc's Outlooks to Positive from Stable, while affirming their Long-Term Issuer Default Ratings (IDRs) at 'B+'.
  • Multitude's senior unsecured notes have been affirmed at 'B+' with a Recovery Rating of 'RR4' and its subordinated hybrid perpetual capital notes at 'B-' with 'RR6'.

EQS-News: An outstanding year with promising prospects for robust growth in the future

Retrieved on: 
Monday, February 12, 2024
CFO, Senior, Central Europe, ICR, USD, Growth, Sale, Motorcycle, Fitch Ratings, Risk, Absa Bank Limited, IPO, CO2, IDR, Electricity, Eurobond, SDRR, FX

The successful results were driven by the efficient integration of the ExpressCredit business and outstanding performance in the Group’s European consumer markets.

Key Points: 
  • The successful results were driven by the efficient integration of the ExpressCredit business and outstanding performance in the Group’s European consumer markets.
  • Shortly after, Fitch Ratings assigned a rating of ‘B-‘ with a Recovery Rating of ‘RR4’ to the respective bonds.
  • In January 2024, the Group received all the necessary approvals from Belarussian government authorities with respect to the Mogo Belarus sale.
  • The sale is expected to be finished within 2024 once all aspects of the transaction, including asset refinance, will be implemented.

JAVER 2023: Growth, Profitability, and Sustainability Achievements

Retrieved on: 
Friday, February 9, 2024
Residential Building & Real Estate, Construction & Property, Professional Services, Finance, Strategic planning, Hurricane Otis, Growth, Fitch Ratings, Environment, Certification, Social responsibility, Management

The figures reveal sustained growth in its financial operations and a steadfast commitment to social responsibility and sustainability.

Key Points: 
  • The figures reveal sustained growth in its financial operations and a steadfast commitment to social responsibility and sustainability.
  • René Martínez Martínez, CEO of JAVER, highlighted an expansion of gross margins and EBITDA, with a solid market position and effective strategic planning.
  • Beyond the numbers, JAVER reinforces its commitment to social responsibility and sustainability.
  • The fourth quarter of 2023 for JAVER was a period of financial achievements, marked by an innovative and responsible approach.