Streetbeat News

Credit Ratings

JPM

S&P Global has upgraded JPMorgan's ratings, highlighting the bank's diversified revenues, stable balance sheet, strong asset quality, and robust risk management practices.

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November 18, 2024 | 1:00 pm

IHRT

iHeartMedia, Inc. (NASDAQ: IHRT) has announced exchange offers and consent solicitations for its existing notes and term loans, including Senior Secured Notes due in 2026, 2027, and 2028.

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November 18, 2024 | 11:15 am

VNLA

The Janus Henderson Short Duration Income ETF (VNLA) has seen its yield decrease to 4.86% due to Federal Reserve rate cuts, offering a minimal spread over effective Fed Funds. With a significant portion of its portfolio in BBB-rated corporate bonds, VNLA is exposed to credit risk, making its risk/reward profile less attractive compared to alternatives like AAA CLO ETFs.

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November 18, 2024 | 5:15 am

BLK

KBRA has assigned a BBB- rating with a Stable Outlook to BlackRock Private Credit Fund's $125 million senior unsecured notes, which are due in 2027 and 2030. The notes include a $70 million tranche at 7.14% and a $55 million tranche at 7.33%. The proceeds will be used for general corporate purposes.

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November 15, 2024 | 10:15 pm

AOMR

KBRA has assigned preliminary ratings to Angel Oak Mortgage Trust 2024-12, a $331.3 million non-prime RMBS transaction. The trust consists of 646 residential mortgages, with a significant portion underwritten using alternative income documentation.

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November 15, 2024 | 8:15 pm

HCC

AM Best has revised the outlooks to negative from stable for the Financial Strength Rating and Issuer Credit Rating of Tokio Marine HCC Mexico Compañía Afianzadora, S.A. de C.V., while affirming its ratings. The Mexico National Scale Rating remains stable.

Portfolio Pulse from

November 15, 2024 | 5:15 pm

EFC

Ellington Financial Inc. has completed a $290 million securitization backed by non-qualified residential mortgage loans, with 65% of the loans contributed by the company.

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November 15, 2024 | 12:45 pm

CATY

Cathay General Bancorp's shares have outperformed the broader market despite worsening income statement results. However, the company is now facing a potential downgrade due to pricing, asset quality, and other factors.

Portfolio Pulse from

November 14, 2024 | 7:45 pm