KBRA Assigns Preliminary Ratings to UK Logistics 2026-4 DAC Business Wire KBRA UK (KBRA) is pleased to announce the assignment of preliminary ratings to five classes of UK Logistics 2026-4 DAC, a CMBS single-borrower transaction. The collateral for the transaction is a £613.7 million limited recourse, first lien mortgage loan expected to be originated by Barclays Bank PLC in September 2026. The floating-rate loan is expected [...]
KBRA Assigns Preliminary Ratings to BUMPER BE GREEN 2026-1 Business Wire KBRA Europe (KBRA) assigns a preliminary rating to the Class A notes to be issued by Bumper BE NV/SA, acting on behalf of its compartment named “Compartiment No.3” (BUMPER BE GREEN 2026-1), a Belgian operating auto lease ABS transaction. Credit enhancement consists of subordination, excess spread and cash reserves. BUMPER BE GREEN 2026-1 will be [...]
KBRA Assign Preliminary Ratings to London Cards Master Issuer PLC, Series 4 Business Wire KBRA UK (KBRA) assigns preliminary ratings to six classes of notes to be issued under the OnTap Master Trust structure, a UK credit card ABS programme backed by receivables originated and serviced by New Wave Capital Limited trading as Capital on Tap (CoT). The issuance relates to Series 4 (the Series), which will be issued [...]
KBRA Releases Research – UK Buy-to-Let RMBS: Stabilising Credit, Broadening Issuance August 25, 2026 KBRA releases research examining recent trends in the UK buy-to-let (BTL) market, including issuance and credit performance, as well as how tenancy reform and planned energy efficiency requirements could affect the sector over time. The BTL market has benefited from a more favourable interest rate environment, with lower borrowing costs and continued rental growth supporting [...]
KBRA Releases Research – The End of the RRF: Trade Adjustment and Financing Challenge August 19, 2026 KBRA releases research examining how the end of the European Union’s (EU) Recovery and Resilience Facility (RRF) could affect trade balances and investment financing, as the policy challenge shifts from deploying EU funds to sustaining investment beyond the programme. Since 2021, RRF-backed activity has likely increased demand for imported capital goods and specialist inputs, widening [...]
AM Best Upgrades Fortegra Insurance Subsidiaries to A (Excellent) August 6, 2026 Rating actions follow completion of the DB Insurance acquisition
KBRA Assigns Preliminary Ratings to Barings Euro Middle Market 2024-1 (Reset) July 29, 2026 KBRA UK (KBRA) assigns preliminary ratings to seven classes of notes issued by Barings Euro Middle Market 2024-1 (Reset), a cash flow collateralized loan obligation (CLO) backed by a diversified portfolio of middle market corporate loans. The original transaction closed on 16 December 2024 as a static CLO. This transaction refinances the original CLO by [...]
KBRA Assigns Preliminary Ratings for RRE 12 Loan Management DAC July 27, 2026 KBRA UK (KBRA) assigns preliminary ratings to five classes of Notes issued by RRE 12 Loan Management DAC, a cash flow collateralised loan obligation (CLO) backed primarily by a diversified portfolio of Euro-denominated corporate loans. RRE 12 Loan Management DAC is managed by Redding Ridge Asset Management (UK) LLP (“RRAM UK” or the “collateral manager”). [...]
KBRA Releases UK RMBS Indices: Q2 2026 July 17, 2026 KBRA releases its UK RMBS Indices: Q2 2026. The indices track early-, mid-, and late-stage delinquencies, annualised net losses, and prepayment activity across prime, buy-to-let (BTL), and nonconforming (NC) mortgage collateral. Click here to view the report. About KBRA KBRA, one of the major credit rating agencies, is registered in the U.S., EU, and the [...]
KBRA Assigns Preliminary Ratings to UK Logistics 2026-3 DAC July 10, 2026 KBRA UK (KBRA) is pleased to announce the assignment of preliminary ratings to five classes of UK Logistics 2026-3 DAC, a CMBS single-borrower transaction. The collateral for the transaction is a £603.0 million participation in a £753.0 million limited recourse, first lien mortgage loan, originated in June 2026 by Deutsche Bank AG, London Branch, Standard [...]