LONDON: Victoria PLC (LSE: VCP), the international flooring group, announced Tuesday that Group CEO Philippe Hamers has proposed stepping down from his role around mid-2026, following nearly nine years of leadership and the successful completion of the company’s refinancing initiatives. The announcement comes after Victoria secured a new £130 million super senior credit facility and…
STOCKHOLM: Fitch Ratings has raised Orkuveita Reykjavikur’s (RE) Long-Term Issuer Default Rating (IDR) from BB+ to investment grade ‘BBB-‘ with a Stable Outlook. The upgrade reflects our expectation of an improvement in credit metrics over 2021-2025 and OR’s stable performance in 2020 despite the pandemic, leading to an upward revision of the company’s Standalone Credit…
Founded in 1899, AM Best is the world’s first credit rating agency. It all began with the founder working out of a one-room office in New York City and grew to become what is now the largest credit rating agency in the world specializing in the insurance industry. Headquartered in the United States, the company…
OLDWICK: AM Best has affirmed the Long-Term Issue Credit Rating (Long-Term IR) of “a” on the $800 million Floating Rate Insured Notes issued by Northwind Holdings LLC, a Delaware limited liability company and wholly owned subsidiary of Unum Group (Unum). The outlook of the Long-Term IR is stable. Northwind Holdings was formed for the limited…
HONG KONG: AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of KB Insurance Co., Ltd. of South Korea. The outlook of these Credit Ratings is stable. The ratings reflect KBI’s balance sheet strength, which AM Best categorizes as strong, as well as its adequate…
SINGAPORE: S&P Global Ratings affirmed its ‘AA/A-1+’ long- and short-term foreign and local currency sovereign credit ratings on Korea. The outlook is stable, which reflects expectation that geopolitical risks in the Korean peninsula will not escalate to the point of hurting Korea’s economic fundamentals over the next two years. Beyond the outlook horizon, Korea’s economic…
OLDWICK: AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Heartland Fidelity Insurance Company, Washington D.C. The credit ratings reflect Heartland’s balance sheet strength, which AM Best categorizes as strongest, as well as its adequate operating…
SINGAPORE: AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “bbb+” of ERGO Insurance Pte. Ltd., Singapore. The Credit Ratings (ratings) of ERGO Insurance reflect its balance sheet strength, which AM Best categorizes as strong, as well as its marginal operating performance, limited business…