Press release content from Business Wire. The AP news staff was not involved in its creation.
KBRA Releases Van Hesser’s Inaugural 3 Things in Credit Podcast
January 15, 2021 GMT
NEW YORK (BUSINESS WIRE) Jan 15, 2021
Kroll Bond Rating Agency (KBRA) launches a new KBRA Podcast series, 3 Things in Credit, hosted by Chief Strategist Van Hesser. Each week, Van will address three topical themes in the credit markets relevant to credit investors. The inaugural episode will discuss the durability of credit in 2021, the economic drag presented by a growing number of “zombie” companies, and conditions driving an active new issue calendar.
The full episode can be streamed
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Royal Financial, Inc. Announces Record Earnings for Second Quarter of Fiscal Year 2021, a $42MM .
Royal Financial, Inc.January 14, 2021 GMT
CHICAGO, Jan. 14, 2021 (GLOBE NEWSWIRE) Royal Financial, Inc. (the “Company”) (OTCQX: RYFL), incorporated under the laws of Delaware on December 15, 2004, for the purpose of serving as the holding company of Royal Savings Bank (the “Bank”), announced record earnings for the second quarter end of fiscal year 2021, an update on loan deferrals, and annual meeting results.
Net Income for the second quarter of fiscal year 2021 was $1.3 million, or $0.50 per common share, compared to $782,000, or $0.31 per common share, in the same period of fiscal 2020.
Press release content from Business Wire. The AP news staff was not involved in its creation.
Steven Kellner to retire from PGIM Fixed Income after 35-year career
January 12, 2021 GMT
Steven Kellner, Managing Director, Head of Corporates, PGIM Fixed Income (Photo: Business Wire)
NEWARK, N.J. (BUSINESS WIRE) Jan 12, 2021
PGIM Fixed Income, a global asset manager offering active solutions across all fixed income markets, today announced that Steven Kellner, head of Corporates, will retire in April 2022. Kellner will be succeeded by Terence Wheat and David Del Vecchio, who have been named as co-heads to lead the U.S. Investment Grade Corporate team. Ed Farley will continue to lead the European Corporate team and the Global Corporate strategy.
Press release content from Business Wire. The AP news staff was not involved in its creation.
KBRA Releases Research – 2021 Sector Outlook: U.S. Property and Casualty Insurance
January 11, 2021 GMT
NEW YORK (BUSINESS WIRE) Jan 11, 2021
Kroll Bond Rating Agency (KBRA) releases its U.S. Property and Casualty Insurance 2021 Sector Outlook. Despite the tumultuous year that included the stormiest Atlantic hurricane season on record, KBRA’s Outlook of the U.S. property and casualty (P/C) insurance sector in 2021 remains Stable.
Insurers’ balance sheets were hit hard in Q1 2020, with sizeable unrealized capital losses, as a result of the pandemic. And while most investment losses recovered in the second quarter, catastrophe losses started to accumulate. The cumulative effect from the record-setting hurricane season, severe convective storms, wildfires, and straight-line wind (derecho) are expected to drive a 3.5% decline in policyholders’ surplus in 2020.
Press release content from Business Wire. The AP news staff was not involved in its creation.
KBRA Releases Research – How Does Credit Break in 2021?
January 11, 2021 GMT
NEW YORK (BUSINESS WIRE) Jan 11, 2021
Kroll Bond Rating Agency (KBRA) releases commentary on U.S. corporate credit and how durable we see it being in 2021.
As we head into a new year, credit risk is bid to frothy, if not extreme levels. At KBRA, we have to ask if any of this makes sense. Turns out it does, in our opinion. To be clear, that is not to say that with yields in credit at all-time lows that we believe risk and reward are in alignment. Rather, our view acknowledges that bond market technicals and government support have reduced the relative importance of macro- and microeconomic fundamentals. And we believe this equation is going to hold over the course of 2021, making U.S. credit a durable asset class in 2021.