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AM Best Downgrades Credit Ratings of Health Alliance Medical Plans, Inc. and Health Alliance-Midwest, Inc.; Places Credit Ratings Under Review With Negative Implications

Thu, 12/07/2023 - 17:35
OLDWICK, N.J.--(BUSINESS WIRE)-- #insurance--AM Best has downgraded the Financial Strength Rating to B (Fair) from B+ (Good) and the Long-Term Issuer Credit Ratings to “bb” (Fair) from “bbb-” (Good) of Health Alliance Medical Plans, Inc. and its wholly owned subsidiary, Health Alliance-Midwest, Inc. Concurrently, these Credit Ratings (ratings) were placed under review with negative implications. Both companies are domiciled in Champaign, IL, and collectively are referred to as Health Alliance. The ratings r

KBRA Affirms Ratings for Banc of California, Inc. and Withdraws Ratings for PacWest Bancorp

Thu, 12/07/2023 - 17:35
NEW YORK--(BUSINESS WIRE)-- #creditratingagency--KBRA affirms the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3, and also assigns a preferred stock rating of BB for Banc of California, Inc. (NYSE: BANC). Additionally, KBRA affirms the deposit and senior unsecured debt rating of BBB+, the subordinated debt rating of BBB, and the short-term deposit and debt ratings of K2 for Pacific Western Bank, which will be renamed and operate as Banc of California,

Morgan Stanley China A Share Fund, Inc. Announces Tender Offer

Thu, 12/07/2023 - 17:35
NEW YORK--(BUSINESS WIRE)--Morgan Stanley China A Share Fund, Inc. (NYSE: CAF) (the “Fund”) announced today that its Board of Directors has approved a tender offer to acquire in exchange for cash up to 20 percent of the Fund’s outstanding shares at a price equal to 98.5 percent of the Fund’s net asset value per share (“NAV”) (net of expenses related to the tender offer) as of the close of regular trading on the New York Stock Exchange (“NYSE”) on the business day immediately following the day t

KBRA Assigns AA+ Rating to State of Connecticut General Obligation Bonds 2024 Series A, B and C; Affirms Rating for Parity Bonds

Thu, 12/07/2023 - 17:35
NEW YORK--(BUSINESS WIRE)-- #creditratingagency--KBRA assigns a long-term rating of AA+ with a Stable Outlook to the State of Connecticut: General Obligation Bonds (2024 Series A); General Obligation Bonds (2024 Series B) (Social Bonds); and, General Obligation Refunding Bonds (2024 Series C) (Social Bonds). KBRA additionally affirms the long-term rating of AA+ with a Stable Outlook for the State's outstanding General Obligation Bonds. Key Credit Considerations The rating actions reflect the following key credit con

HighRadius appoints Greg McStravick as the new Chief Revenue Officer

Thu, 12/07/2023 - 17:35
HOUSTON--(BUSINESS WIRE)--HighRadius, the leading provider of Autonomous Finance software for Order-to-Cash, Treasury, and Record-to-Report, today announced that Greg McStravick has joined as the Chief Revenue Officer. McStravick has led Go-To-Market teams in technology software for over 20 years. Before HighRadius, he was FIS’ Chief Revenue Officer for Banking and Capital Markets. Before FIS, Greg served as the General Manager of Database and Data Management at SAP (S/4 HANA), responsible for

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

Thu, 12/07/2023 - 17:35
OLDWICK, N.J.--(BUSINESS WIRE)-- #insurance--AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “bbb+” (Good) to the recently issued $400 million 6% senior unsecured notes, due December 2033 of Fairfax Financial Holdings Limited (Fairfax) (Toronto, Canada). The outlook assigned to the Credit Rating (rating) is stable. The Long-Term Issuer Credit Rating of Fairfax, as well as the ratings of its operating subsidiaries and all other debt issuances are unchanged. Fairfax intends to use subst

KBRA Assigns Preliminary Ratings to FIGRE Trust 2023-HE3 (FIGRE 2023-HE3)

Thu, 12/07/2023 - 17:35
NEW YORK--(BUSINESS WIRE)-- #KBRA--KBRA assigns preliminary ratings to four classes of mortgage-backed notes from FIGRE Trust 2023-HE3 (FIGRE 2023-HE3), a $195.8 million RMBS transaction, sponsored by Figure Lending LLC (Figure), comprising first lien (5.8%), second lien (90.7%), and third lien (3.5%) home equity lines of credit (HELOCs) loans. The underlying pool is seasoned two months and consists of 2,682 draws on 2,586 lines of credit (the loans) originated by Figure. All the loans in the pool are

Reminder for Olo Inc. Investors: Contact Robbins LLP for Information About Your Rights

Thu, 12/07/2023 - 17:35
SAN DIEGO--(BUSINESS WIRE)---- $OLO #OloInc--Class Action Lawsuit Against Olo Inc. Allowed to Proceed

Clever Leaves Holdings Inc. Investor Reminder: Robbins LLP is Investigating Clever Leaves Holdings Inc. on Behalf of Investors

Thu, 12/07/2023 - 17:35
SAN DIEGO--(BUSINESS WIRE)---- $CLVR #CleverLeavesHoldingsInc--Clever Leaves Holdings Inc. Investor Reminder: Robbins LLP is Investigating Clever Leaves Holdings Inc. on Behalf of Investors

KBRA Assigns Preliminary Ratings to NJ 2023-GSP

Thu, 12/07/2023 - 17:35
NEW YORK--(BUSINESS WIRE)-- #KBRA--KBRA announces the assignment of preliminary ratings to three classes of NJ 2023-GSP, a CMBS single-borrower securitization. The collateral for the transaction is a $425.0 million portion of a $525.0 million non-recourse, first lien mortgage loan that is expected to be originated by Goldman Sachs Bank USA (GS Bank), German American Capital Corporation (GACC), and Natixis Real Estate Capital, LLC (NREC) on or about December 11, 2023. The fixed rate loan has a five-year

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