Kroll Bond Rating Agency
Kroll Bond Rating Agency (KBRA) was founded in 2010 to restore trust in credit ratings by introducing higher standards of risk assessment and a commitment to transparency. As a full-service global rating agency, KBRA provides investors with timely, independent, and insightful research, delivering an alternative perspective that emphasizes accuracy, integrity, and excellence. KBRA provides the investment community with an alternative solution by delivering timely and in-depth research. KBRA is a full service global rating agency whose mission is to set a standard of excellence and integrity.www.kbra.com
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Search complete. 34 mentions across 15 episodes found for "Kroll Bond Rating Agency".
Nov 2, 2026
Joe QuartucciHOST
But last thing I want to say about Anthropic is their credit rating.
Joe QuartucciHOST
Right now, we only have one rating from KBRA, which is BB, double B plus, which is the very top line of the junk market.
Joe QuartucciHOST
just below investment grade.
Joe QuartucciHOST
So not investment grade.
Van HesserHOST
Welcome market participants to another Three Things in Credit.
Van HesserHOST
I'm Van Hesser, Chief Market Strategist at KBRA.
Van HesserHOST
Each week we bring you three things impacting credit markets that we think you should know about.
Van HesserHOST
So it's on to the midterms.
9 MINS LATER
Van HesserHOST
Tighter, but not tight.
Van HesserHOST
As always, thanks for joining.
Van HesserHOST
Don't forget to check in on KBRA.com for our ratings reports and our latest research, including the latest forward looks, our views of what's shaping credit markets over the near term from myself and my European colleague, Gordon Kerr.
Van HesserHOST
You can find both of those reports on KBRA.com forward slash macro credit.
Peter RentonHOST
So I do want to touch on your first ABS transaction that was $170 million deal in June.
Peter RentonHOST
It was rated by KBRA.
Peter RentonHOST
Tell us a little bit about what you learned from that experience and how you plan to kind of, what's your capital markets approach going forward?
Ilya FridmanGUEST
It was a Herculean effort, I'm going to use that word.
Neetha BidwayHOST
And that is also posing a challenge.
Neetha BidwayHOST
Back in June, according to the Financial Times, Anthropic was assigned the highest junk credit rating by Kroll Bond Rating Agency.
Neetha BidwayHOST
Anthropic just offered Blackstone double digit yields in their latest chip financing that's also reported in the Financial Times.
Neetha BidwayHOST
We'll link to both of those.
Van HesserHOST
Welcome market participants to another three things in credit.
Van HesserHOST
I'm Van Hesser, Chief Market Strategist at KBRA.
Van HesserHOST
Each week we bring you three things impacting credit markets that we think you should know about.
Van HesserHOST
I dislike bonds today less than a year ago.
10 MINS LATER
Van HesserHOST
Geopolitical reset and an industrial revolution create some uncertainty.
Van HesserHOST
As always, thanks for joining.
Van HesserHOST
Don't forget to check in on KBRA.com for our ratings reports and our latest research.
Van HesserHOST
We'll see you next week.
Michael CembalestGUEST
And I have a short little blurb coming out in the next Eye on the Market in a couple of days on it.
Michael CembalestGUEST
If you kind of go into Google and say, what is the stress rate in private credit? You'll get S&P and Lincoln and KBRA, and those numbers are like 1% to 3%.
Michael CembalestGUEST
And then you might end up with a PIMCO number of 18%, and everything depends on how you define stress.
Michael CembalestGUEST
When private credit borrowers get into trouble— They have a number of options.
Jeremy SzafronHOST
I'm Jeremy Szafron.
Jeremy SzafronHOST
My guest worked inside the New York Fed, then ran research at Kroll Bond Rating Agency.
Jeremy SzafronHOST
And for more than two decades, he's named names in his newsletter, The Institutional Risk Analyst.
Jeremy SzafronHOST
He's even advised the TV drama Billions.
Jack GambleHOST
Now, we've got some other Anthropic stories coming on, uh, this morning as well.
Jack GambleHOST
KBRA was the credit rating agency, and apparently back in June, this article just broke today, back in June, KBRA gave Anthropic a double B credit rating.
Jack GambleHOST
Now, double B is only one notch below investment grade.
Jack GambleHOST
It's still junk, but it's almost investment grade.
16 MINS LATER
Jack GambleHOST
It's almost like buying shit when you're not paying attention to what you're buying and how much you're spending is a bad idea.
Jack GambleHOST
And now we've got Anthropic investors possibly considering the concept of price discovery.
Jack GambleHOST
Well, that's, that's interesting, isn't it? And speaking of price discovery, uh, KBRA, you've got some explaining to do.
Jack GambleHOST
Anthropic secured highest junk credit rating in June.
Van HesserHOST
[upbeat music] Welcome, market participants to another Three Things In Credit.
Van HesserHOST
I'm Van Hesser, Chief Market Strategist at KBRA.
Van HesserHOST
Each week, we bring you three things impacting credit markets that we think you should know about.
Van HesserHOST
This is a week of discomfort.
Matt WilburGUEST
And so, and you know, if, if we look at other credit products in the market right now, you know, it started with a rating and then it went to standardization of documents, and then, you know, more distribution and, and including, you know, institutional capital would come in.
Matt WilburGUEST
And so right now we've hit the ratings with Moody's, Fitch, KBRA have, have joined with the ratings, but now we're kind of missing the standardization and data inputs that we can all, you know, benchmark.
Matt WilburGUEST
And so, you know, institutional capital coming in, they have nothing to reference.
Matt WilburGUEST
They have no benchmark.
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