Credit rating agency

AM Best Revises Outlooks to Positive for Somerset Reinsurance Ltd.

Tuesday, March 2, 2021 - 10:10pm

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of a- of Somerset Reinsurance Ltd. (Somerset Re) (headquartered in Pembroke, Bermuda).

Key Points: 
  • AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of a- of Somerset Reinsurance Ltd. (Somerset Re) (headquartered in Pembroke, Bermuda).
  • The change in outlooks reflect the expectation that the balance sheet strength will continue to improve.
  • More specifically, risk-adjusted capitalization, as measured by Bests Capital Adequacy Ratio (BCAR), is expected to remain at the strongest level.
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

AM Best Assigns Issue Credit Rating to Fairfax Financial Holdings Limited’s Senior Unsecured Notes

Tuesday, March 2, 2021 - 9:34pm

AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of bbb to the recently announced USD 600 million, 3.375% senior unsecured notes, due March 2031, of Fairfax Financial Holdings Limiteds (Fairfax) (Toronto, Canada).

Key Points: 
  • AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of bbb to the recently announced USD 600 million, 3.375% senior unsecured notes, due March 2031, of Fairfax Financial Holdings Limiteds (Fairfax) (Toronto, Canada).
  • This may include the redemption or repurchase of certain previously issued senior unsecured notes or other debt securities of Fairfax and its subsidiaries.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

KBRA Assigns Preliminary Ratings to Mariner Finance Issuance Trust 2021-A

Tuesday, March 2, 2021 - 7:07pm

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to five classes of notes issued from Mariner Finance Issuance Trust 2021-A (MFIT 2021-A), a personal loan asset-backed securities transaction.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to five classes of notes issued from Mariner Finance Issuance Trust 2021-A (MFIT 2021-A), a personal loan asset-backed securities transaction.
  • The notes are collateralized by approximately $273 million of secured and unsecured, fixed-rate, non-revolving personal loans originated by Mariner Finance, LLC, (Mariner or the Company) as of the January 31, 2021 Statistical Cut-Off Date.
  • KBRA also conducted an operational assessment of Mariner, as well as a review of the transactions legal structure and transaction documents.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

Best's Review's Global Insurance Broker Survey Now Accepting Submissions

Tuesday, March 2, 2021 - 3:31pm

Bests Review is asking for submissions to its annual Top Global Insurance Brokers ranking, which will be published in the July 2021 issue.

Key Points: 
  • Bests Review is asking for submissions to its annual Top Global Insurance Brokers ranking, which will be published in the July 2021 issue.
  • Insurance brokerages will be ranked according to their 2020 total revenue.
  • Additional information about top lines of business and key business developments also will be included.
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

KBRA Launches New Brand Identity With Redesigned Logo

Tuesday, March 2, 2021 - 2:27pm

Kroll Bond Rating Agency (KBRA), a global full-service rating agency, announced today the launch of its new corporate brand identity which features a redesigned logo and website.

Key Points: 
  • Kroll Bond Rating Agency (KBRA), a global full-service rating agency, announced today the launch of its new corporate brand identity which features a redesigned logo and website.
  • Over the last 10 years, KBRA has established itself as a challenger brand driven by innovation, collaboration, and integrity, Jim Nadler, KBRAs President and CEO, said.
  • Our new logo is a nod to our market leadership and recognition as an integral part of the investment community, and our brand identity better reflects the innovation we have brought to the fixed income market.
  • The vision for the redesigned logo inspires a feeling of strength and renews KBRAs mission of setting a standard of excellence.

KBRA Assigns Preliminary Rating to Servpro Master Issuer, LLC Series 2021-1 Senior Secured Notes

Monday, March 1, 2021 - 7:57pm

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to a note class of Servpro Master Issuer, LLC Series 2021-1, a whole business securitization.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to a note class of Servpro Master Issuer, LLC Series 2021-1, a whole business securitization.
  • This transaction is structured as a whole business securitization in which Servpro Industries, LLC and certain of its affiliates have contributed substantially all of their revenue-generating assets to Servpro Master Issuer, LLC (the Issuer).
  • In conjunction with the issuance of the Series 2021-1 Notes, KBRA anticipates affirming the ratings on the Issuers outstanding Series 2019-1 Class A-1 Notes and Series 2019-1 Class A-2 Notes.
  • 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 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 Pagaya AI Debt Selection Trust 2021-1

Friday, February 26, 2021 - 11:30pm

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by Pagaya AI Debt Selection Trust 2021-1 (PAID 2021-1), a consumer loan ABS transaction.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by Pagaya AI Debt Selection Trust 2021-1 (PAID 2021-1), a consumer loan ABS transaction.
  • This transaction is the second publicly rated securitization for Pagaya Investments US LLC (Pagaya).
  • Pagaya is a 100% owned subsidiary of Pagaya Technologies Ltd., which is an Israeli corporation.
  • KBRA has performed operational reviews of Pagaya and each of the Platform Sellers and has conducted surveillance on each platforms recent securitizations.

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.

Attorney Douglas Borthwick Earns Justia's "10.0" Top Attorney Peer Rating

Friday, February 26, 2021 - 1:14pm

SANTA ANA, Calif., Feb. 26, 2021 /PRNewswire/ --A rating by his attorney peers resulted in Douglas Borthwick receiving a 5.0/5.0 rating in all categories of legal knowledge, legal analysis, communication skills, and Ethics and Professionalism.

Key Points: 
  • SANTA ANA, Calif., Feb. 26, 2021 /PRNewswire/ --A rating by his attorney peers resulted in Douglas Borthwick receiving a 5.0/5.0 rating in all categories of legal knowledge, legal analysis, communication skills, and Ethics and Professionalism.
  • This is the highest possible attorney peer review rating in both legal ability and ethical standards.
  • Attorney Douglas Borthwick has further achieved a "SUPERB" Rating from Avvo, the highest evaluation given by the nationally acclaimed attorney rating agency.
  • Douglas Borthwick has earned the trust and respect of his clients and colleagues for his integrity, preparation, determination, and attention to detail.