DBRS alters Stonebriar trend to positive

DBRS said it changed the trend to positive from stable and confirmed the ratings of Stonebriar Finance Holdings LLC and related entities, including Stonebriar’s long-term issuer rating of BBB (low), SCF Funding LLC’s guaranteed long-term senior debt rating of BBB (low), and SCF Preferred Equity, LLC’s long-term issuer rating of BBB (low) and perpetual preferred shares rating of BB.

“The ratings confirmation and positive trend consider Stonebriar’s solid and expanding commercial equipment finance business, underpinned by a strong senior management team with deep industry knowledge, along with an entrenched and diverse client base,” DBRS said in a press release.

The agency said Stonebriar can maintain its earnings momentum and solid credit fundamentals despite the challenging economy and rising interest rates.

Fitch rates Dominion Energy notes BBB+

Fitch Ratings said it rated Dominion Energy, Inc.’s 2022 series A due 2032 and series B senior notes due 2052 BBB+.

Fitch affirmed Dominion’s BBB+ issuer and senior unsecured ratings on July 26, 2021.

Dominion plans to use the proceeds for general corporate purposes and to repay short-term debt.

The outlook is stable.

S&P rates Prudential notes BBB+

S&P said it assigned its BBB+ rating to Prudential Financial Inc.'s planned junior subordinated notes. This proposed issuance is in addition to the junior subordinated notes rated yesterday.

“The ratings on these proposed notes are two notches lower than the A senior debt and issuer credit ratings on Prudential. The two notches reflect the subordination of these notes and the optional interest deferability feature,” S&P said in a press release.

Prudential intends to use the proceeds for general corporate purposes, which may include the redemption of its junior subordinated notes callable next June.

The outlook is stable.

Fitch rates Prudential notes BBB

Fitch Ratings said it assigned BBB ratings to Prudential Financial Inc.'s newly issued junior subordinated notes.

“The ratings assigned to the new junior subordinated note issuances are equivalent to the rating assigned to PFI's existing junior subordinated notes. The rating on the notes reflects standard notching based on Fitch's criteria with the notes rated three notches below PFI's long-term issuer default rating, which reflects Fitch's assumption of ‘poor’ recovery prospects in the event of default given the level of subordination and one additional notch for "minimal" non-performance risk,” Fitch said in a press release.

The proceeds are expected to be used for general corporate purposes.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.