Bond & Stock Rating News

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to four classes of notes (seven tranches) issued by LAD Auto Receivables Trust 2024-1 ("LADAR 2024-1"), an auto loan ABS transaction. LADAR 2024-1 represents the seventh overall ABS securitization for Driveway Finance Corporation ("DFC" or the "Company"), and first of 2024. LADAR 2024-1 will issue four classes of notes (seven tranches) totaling $329.43 million. Credit enhancement on the notes is comprised of overcollateralization (”OC”...

NEW YORK--(BUSINESS WIRE)--KBRA affirms the BBB+ insurance financial strength ratings (IFSR) for First Protective Insurance Company and Frontline Insurance Unlimited Company. The Outlook for both ratings is Stable. First Protective Insurance Company (FPIC) is a property/casualty insurer focused on writing personal homeowners coverage primarily in Florida as well as four other coastal states in the Southeast. Frontline Insurance Unlimited Company (FIUC; together with FPIC, “the Company”) is a pr...

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to six classes of mortgage pass-through notes from Verus Securitization Trust 2023-7 (VERUS 2023-7), a $669.2 million non-prime RMBS transaction. The underlying collateral, comprising 1,284 residential mortgages, is characterized by a significant concentration of loans underwritten using alternative income documentation. Borrowers in the subject pool possess a non-zero WA original credit score of 736 and exhibit moderate equity in each...

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to six classes of mortgage pass-through notes from Verus Securitization Trust 2023-7 (VERUS 2023-7), a $669.2 million non-prime RMBS transaction. The underlying collateral, comprising 1,284 residential mortgages, is characterized by a significant concentration of loans underwritten using alternative income documentation. Borrowers in the subject pool possess a non-zero WA original credit score of 736 and exhibit moderate equity in each...

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to six classes of mortgage pass-through notes from Verus Securitization Trust 2023-7 (VERUS 2023-7), a $669.2 million non-prime RMBS transaction. The underlying collateral, comprising 1,284 residential mortgages, is characterized by a significant concentration of loans underwritten using alternative income documentation. Borrowers in the subject pool possess a non-zero WA original credit score of 736 and exhibit moderate equity in each...

NEW YORK--(BUSINESS WIRE)--To access rating and relevant documents, click here. Click here to view the report. Methodologies Sovereigns: Sovereigns Rating Methodology ESG Global Rating Methodology Disclosures Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can...

NEW YORK--(BUSINESS WIRE)--About KBRA KBRA is a full-service credit rating agency registered in the U.S., the EU, and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions. Doc ID: 1005364...

NEW YORK--(BUSINESS WIRE)--KBRA affirms the BBB+ insurance financial strength ratings (IFSR) for First Protective Insurance Company and Frontline Insurance Unlimited Company. The Outlook for both ratings is Stable. First Protective Insurance Company (FPIC) is a property/casualty insurer focused on writing personal homeowners coverage primarily in Florida as well as four other coastal states in the Southeast. Frontline Insurance Unlimited Company (FIUC; together with FPIC, “the Company”) is a pr...

NEW YORK--(BUSINESS WIRE)--KBRA releases its Auto Loan ABS Indices: July 2023, providing monthly credit trends across securitized prime and non-prime auto loans. Click here to view the report. About KBRA KBRA is a full-service credit rating agency registered in the U.S., the EU, and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions....

NEW YORK--(BUSINESS WIRE)--KBRA releases research examining July 2023 retail sales. This month's report discusses the closing gap between retail sales growth and inflation in July as well as the slowing growth of state sales tax collections. Click here to view the report. Related Publications June Retail Sales Relatively Steady as Inflation Eases Toward Policy Target Van Hesser’s 3 Things in Credit: A Weekly KBRA Podcast About KBRA KBRA is a full-service credit rating agency registered in the U...