AM Best Affirms Credit Ratings of Jacana Re Limited
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of a of Jacana Re Limited (Jacana Re) (Guernsey). Jacana Re is a subsidiary of BHL Holdings Limited (BHL), the non-operating holding company of the BHL group. The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect Jacana Re s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management. In addition, the ratings consider, in the form of lift, Jacana Re s strategic importance to its parent company, BHL, as the group s internal reinsurer.
Corporate America levered up in 2020 as the coronavirus pandemic threatened revenues. But even with ample cash on hand, companies are likely in no hurry to unwind that buildup of debt.
Borrowing was crucial in the early days of the pandemic as companies made a dash for cash to cover operating expenses. S&P 500 companies held a total of $1.88 trillion in cash as of the third quarter of 2020, according to S&P Dow Jones Indices, leaving them well placed to deleverage. But experts say paying down debt will take a backseat to mergers and acquisitions, capital expenditures and shareholder returns as borrowing costs fall ever lower, buoyed by support from the Federal Reserve.
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SINGAPORE, Feb. 23, 2021 /PRNewswire/ KILDE was licensed by the Monetary Authority of Singapore lately to raise debt capital for digital lending companies from institutional and accredited investors.
Securing a sustainable source of debt funding is a number one challenge for digital lenders. Despite the investment boom in alternatives, digital lending is too opaque and non-transparent for most investors. KILDE lifts the opaque veil offering access to an extensive range of deal-ready private debt investments. For digital lending firms, it provides flexible funding at competitive costs. Digital lenders allow underbanked consumers and SMEs to get sustainable loans and build their credit history. Transforming these loans into investable assets provides a unique market opportunity. We are here to streamline this process, said Radek Jezbera, co-founder of KILDE.
To the editor: We strongly oppose Providence City taking out an $8,000,000 loan to go into the business of supplying redundant internet access to every household and business in Providence