I’ve spent the past few months mapping how net lease REITs sit relative to the BBB- investment-grade cliff — who has buffer, who doesn’t, and what separates a stable floor from a trap door. Most of the time, the tension is between what the company earns and what the rating agencies see.With VICI Properties Inc (NYSE:VICI) , there’s no tension at all. S&P says BBB-. Fitch says BBB-. Moody’s, after upgrading from Ba1 in November 2024, says Baa3. Three agencies, three opinions, one conclusion: this $30 billion ...

To access ratings and relevant documents, click here. Click here to view the report. Related Publications NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to 10 classes of mortgage-backed notes from New Residential Mortgage Loan Trust 2026-NQM2 (NRMLT 2026-NQM2), a $508.0 million non-prime RMBS transaction sponsored by Rithm Capital Corp. (formerly New Residential Investment Corp.), a publicly traded (NYSE: RITM) real estate investment trust (REIT). The underlying mortgages in the subject pool we ...

Fitch upgraded Arbor Multifamily Lending, LLC's Commercial Special Servicer Rating to CSS2-, and assigned a Stable Rating Outlook. NEW YORK, Feb. 3, 2026 /PRNewswire/ -- The global ratings agency cited Arbor's recent technological enhancements to its core asset management system, its experienced team of executives and asset managers, and its demonstrated proficiency in resolving primarily GSE CRE loans in its January 30, 2026 announcement. "I'm very proud that Fitch, one of the world's leading ratings agenc ...

NEW YORK--(BUSINESS WIRE)-- #creditratingagency--KBRA assigns a rating of BBB to Bain Capital Specialty Finance, Inc.'s ("BCSF" or "the company†) $350 million, 5.95% senior unsecured notes due 2031. The rating Outlook is Stable. The proceeds will be used for general corporate purposes and for repayment of existing secured indebtedness. Key Credit Considerations The rating and Stable Outlook is supported by BCSF's ties to the ~$60 billion Bain Capital Credit ("BCC") credit platform, including ~$20 billion ...

Group 1 - KBRA has assigned preliminary ratings to three classes of FREMF Series 2026-K176 mortgage pass-through certificates and three classes of Freddie Mac structured pass-through certificates, with the total transaction amounting to $1.3 billion [1] - The underlying transaction is backed by 49 fixed-rate multifamily mortgage loans, with principal balances ranging from $2.1 million to $110.6 million, and the largest loan being Crystal Square at 8.8% of the pool [2] - The five largest loans account for 35.1% of the cut-off date balance, with significant concentrations in Virginia (20.5%), New York (10.8%), and Washington D.C. (8.5%) [2] Group 2 - KBRA's analysis utilized its CMBS Multi-Borrower rating process, estimating a weighted average KNCF that is 4.2% lower than the issuer's NCF, and applying capitalization rates that resulted in property values being 40.3% lower than third-party appraisals [3] - The weighted average KBRA capitalization rate for the transaction is 8.51%, and the credit model incorporates various stresses and calculations to determine potential losses for each loan [3]

Core Insights - Moody's Corporation (NYSE:MCO) is a leading provider of credit ratings, research, and risk analysis, playing a crucial role in global financial markets [1] - The company competes with major credit rating agencies like Standard & Poor's and Fitch Ratings [1] Stock Performance - Moody's current trading price is $535.12, reflecting an increase of $3.51 or approximately 0.66% [4] - The stock has fluctuated between $526.50 and $536.13 on the day, with a yearly high of $540 and a low of $378.71, indicating significant volatility [4] Market Capitalization - Moody's market capitalization is approximately $96.2 billion, highlighting its strong presence in the financial services industry [5] Analyst Outlook - Kazuya Nishimura from Daiwa has set a price target of $590 for Moody's, suggesting a potential upside of about 10.26% from its current trading price [2][6] - This optimistic outlook reflects confidence in Moody's future performance and market position [2] Governance Changes - Lisa P. Sawicki has been elected to Moody's Board of Directors, effective March 16, 2026, bringing extensive experience in audit and business advisory services [3] - Her leadership role at PwC is expected to strengthen Moody's governance and strategic direction [3][6]

Core Viewpoint - KBRA assigns an issuer rating of A-, a senior unsecured debt rating of A-, and a junior subordinated debt rating of BBB to MidCap Financial Issuer Trust, indicating a strong credit profile for the company [1] Group 1: Ratings and Financial Structure - MidCap Financial Issuer Trust is a wholly-owned subsidiary of MidCap FinCo Intermediate LLC, which serves as the guarantor of the debt [1] - The company specializes in providing senior secured debt solutions to various industries [1] - The ratings outlook reflects the company's financial stability and operational capabilities [1]

Core Viewpoint - NETSTREIT Corp. has received a BBB- issuer rating from Fitch Ratings, indicating a stable outlook based on its strong property portfolio and consistent operating performance [1] Group 1: Rating and Outlook - Fitch Ratings assigned NETSTREIT Corp. a BBB- issuer rating with a stable outlook [1] - The rating reflects the company's solid property portfolio and stable operating performance [1] Group 2: Performance Metrics - The company demonstrated resilient performance during the pandemic, maintaining an occupancy rate of over 99% [1] - Fitch noted the company's solid unit-level rent coverage and minimal credit losses [1]

Credit Rating - Fitch Ratings 下调加蓬信用评级至垃圾级 [1] Financial Performance - 下调评级的原因是政府赤字扩大 [1] - 债务需求下降 [1]

Core Viewpoint - The ratings company has a stable outlook for Paraguay, attributing this to the country's pro-business policies and a strong track record of macroeconomic stability [1] Summary by Relevant Categories - **Pro-Business Policies**: Paraguay's government has implemented policies that favor business operations, contributing to a favorable investment climate [1] - **Macroeconomic Stability**: The country has demonstrated a consistent record of macroeconomic stability, which is a key factor in the ratings company's assessment [1] - **Outlook**: The overall outlook for Paraguay is stable, indicating confidence in its economic management and future prospects [1]