Kroll Bond Rating Agency

KBRA Releases Research – Coronavirus (COVID-19): Can Credit Hold Ground While the U.S. Is ‘Spiraling Out of Control?’

Retrieved on: 
Friday, June 12, 2020

Kroll Bond Rating Agency (KBRA) releases the Can Credit Hold Ground While the U.S. Is Spiraling Out of Control?

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases the Can Credit Hold Ground While the U.S. Is Spiraling Out of Control?
  • report, which examines the dramatic tightening in most credit spreads in the face of a still unfolding pandemic, deep economic recession, and an uncertain political landscape.
  • KBRA believes this reflects existing and prospective monetary and fiscal support, the reopening of the economy, and progress on developing an effective medical response against COVID-19.
  • In addition, KBRA believes the differentiated nature of this downturn and the safe haven status of the U.S. have also served to bolster investor sentiment.

KBRA Europe Releases Research – France’s Auto Industry Support Prioritises ESG Objectives

Retrieved on: 
Thursday, June 11, 2020

Environmental, Social and Governance (ESG) Considerations by Sector: Sovereigns

Key Points: 
  • Environmental, Social and Governance (ESG) Considerations by Sector: Sovereigns
    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 is located at 6-8 College Green, Dublin 2, Ireland.

KBRA Releases Research - Building a Trusted Rating Agency

Retrieved on: 
Wednesday, June 10, 2020

Kroll Bond Rating Agency (KBRA) releases a report highlighting the companys different vision, ratings process for published and unpublished ratings, and our acceptance in the market.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases a report highlighting the companys different vision, ratings process for published and unpublished ratings, and our acceptance in the market.
  • KBRA has only one rating processa thorough review of an obligations creditworthiness by evaluating all material and relevant factors.
  • 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 and is a certified Credit Rating Agency (CRA) with the European Securities and Markets Authority (ESMA).

KBRA Assigns Preliminary Ratings to Mosaic Solar Loan Trust 2020-1

Retrieved on: 
Wednesday, June 10, 2020

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four classes of notes issued by Mosaic Solar Loan Trust 2020-1 (Mosaic 2020-1), an asset-backed securitization collateralized by a pool of residential solar loans.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four classes of notes issued by Mosaic Solar Loan Trust 2020-1 (Mosaic 2020-1), an asset-backed securitization collateralized by a pool of residential solar loans.
  • The review did not result in Watch Placements on any existing KBRA transaction ratings.
  • The collateral pool of Mosaic 2020-1 will include approximately $260.1 million of residential solar loans at closing.
  • Solar Mosaic, Inc. (Mosaic or the Company) is a California-based specialty finance company focused on originating and servicing consumer loans used for the purchase of residential solar systems.

KBRA Assigns Ratings to NBT Bancorp Inc.

Retrieved on: 
Wednesday, June 10, 2020

Kroll Bond Rating Agency (KBRA) assigns a senior unsecured debt rating of BBB+, a subordinated debt rating of BBB, and a short-term debt rating of K2 to Norwich, NY based NBT Bancorp Inc. (NASDAQ: NBTB) (the company).

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns a senior unsecured debt rating of BBB+, a subordinated debt rating of BBB, and a short-term debt rating of K2 to Norwich, NY based NBT Bancorp Inc. (NASDAQ: NBTB) (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 principal subsidiary, NBT Bank, National Association.
  • KBRA continues to monitor the potential direct and indirect effects of the coronavirus on the banking and other sectors.
  • KBRA is a full-service credit rating agency registered as an NRSRO with the U.S. Securities and Exchange Commission.

KBRA Assigns Ratings to Horizon Bancorp, Inc.

Retrieved on: 
Tuesday, June 9, 2020

Kroll Bond Rating Agency (KBRA) assigns a senior unsecured debt rating of BBB, subordinated debt rating of BBB-, and short-term debt rating of K3 for Michigan City, Indiana-based Horizon Bancorp, Inc. (NASDAQ: HBNC) (the company).

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns a senior unsecured debt rating of BBB, subordinated debt rating of BBB-, and short-term debt rating of K3 for Michigan City, Indiana-based Horizon Bancorp, Inc. (NASDAQ: HBNC) (the company).
  • In addition, KBRA assigns deposit and senior unsecured debt ratings of BBB+, a subordinated debt rating of BBB, and short-term deposit and debt ratings of K2 for the bank subsidiary, Horizon Bank.
  • Furthermore, fee revenue contribution (20% of total revenues) is solid and balanced, which KBRA expects to remain durable with expanded focus in higher growth markets.
  • KBRA is a full-service credit rating agency registered as an NRSRO with the U.S. Securities and Exchange Commission.

KBRA Assigns Ratings to the Key Operating Subsidiaries of Producer’s National Corporation

Retrieved on: 
Tuesday, June 9, 2020

Kroll Bond Rating Agency, LLC (KBRA) assigns a BBB- insurance financial strength rating (IFSR) to the three insurance subsidiaries of Producers National Corporation: Unique Insurance Company; Stonegate Insurance Company; and Viva Seguros Insurance Company.

Key Points: 
  • Kroll Bond Rating Agency, LLC (KBRA) assigns a BBB- insurance financial strength rating (IFSR) to the three insurance subsidiaries of Producers National Corporation: Unique Insurance Company; Stonegate Insurance Company; and Viva Seguros Insurance Company.
  • The ratings for Producers National Corporations operating companies (collectively referred to as Producers National or PNC), reflect significant capital contributions in recent years, which resulted in improved underwriting leverage measures and sound risk-adjusted capitalization.
  • The ratings further reflect PNCs sizeable market presence in the Illinois non-standard auto market and long-standing agency relationships.
  • KBRA analyzed the impact of recent market volatility on Producers National and has stress tested the companies reserve positions and investment portfolios.

KBRA Assigns Ratings to Loanpal Solar Loan 2020-1 Ltd. and Loanpal Solar Loan 2020-1 LLC

Retrieved on: 
Tuesday, June 9, 2020

Kroll Bond Rating Agency (KBRA) assigns ratings to three classes of notes issued by Loanpal Solar Loan 2020-1 Ltd. and Loanpal Solar Loan 2020-1 LLC (LSLT 2020-1-GS), an asset-backed securitization collateralized by a pool of residential solar loans.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns ratings to three classes of notes issued by Loanpal Solar Loan 2020-1 Ltd. and Loanpal Solar Loan 2020-1 LLC (LSLT 2020-1-GS), an asset-backed securitization collateralized by a pool of residential solar loans.
  • The review did not result in Watch Placements on any existing KBRA transaction ratings.
  • Loanpal, LLC (formerly known as Paramount Equity Mortgage, LLC d/b/a Loanpal) (Loanpal or the Company) was incorporated in California in 2003 to provide residential mortgage loans.
  • KBRA also conducted an operational assessment of Loanpal, as well as a review of the transactions legal structure and transaction documents.

KBRA Assigns Ratings to Mill City Solar Loan 2020-1 Ltd. and Mill City Solar Loan 2020-1 LLC

Retrieved on: 
Tuesday, June 9, 2020

Kroll Bond Rating Agency (KBRA) assigns ratings to three classes of notes issued by Mill City Solar Loan 2020-1 Ltd. and Mill City Solar Loan 2020-1 LLC (MCSLT 2020-1-GS), an asset-backed securitization collateralized by a pool of residential solar loans.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns ratings to three classes of notes issued by Mill City Solar Loan 2020-1 Ltd. and Mill City Solar Loan 2020-1 LLC (MCSLT 2020-1-GS), an asset-backed securitization collateralized by a pool of residential solar loans.
  • The review did not result in Watch Placements on any existing KBRA transaction ratings.
  • The collateral in the MCSLT 2020-1-GS deal includes approximately $195.31 million of residential solar loans, as of the March 31, 2020 statistical cut-off date.
  • Loanpal, LLC (formerly known as Paramount Equity Mortgage, LLC d/b/a Loanpal) (Loanpal or the Company) was incorporated in California in 2003 to provide residential mortgage loans.

KBRA Releases Research – State and Local Revenue Losses Adding Up

Retrieved on: 
Tuesday, June 9, 2020

Kroll Bond Rating Agency (KBRA) releases research on early forecasts for municipal market revenue losses due to the economic shutdown related to the coronavirus (COVID-19) pandemic.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases research on early forecasts for municipal market revenue losses due to the economic shutdown related to the coronavirus (COVID-19) pandemic.
  • One of the most dramatic results of the economic shutdown was the immediate and significant drop in revenue sources for many state and local governments.
  • Shelter-in-place orders led to significant curtailment of some activities that generate revenue such as sales tax collections, transit ridership, and toll roads.
  • In this report, KBRA aggregates national revenue losses for state and local governments, transit agencies, toll roads, and water and sewer utilities.