Kroll Bond Ratings Rises to Third in CMBS Rating Agency Market Share
- NewMarketsVP
- Jul 22, 2012
- 2 min read
Updated: Nov 20, 2024
Kroll Bond Rating Agency (KBRA) announced today a significant market share milestone after only one year of issuing ratings. According to Commercial Mortgage Alert’s mid-year rating agency rankings published this past Friday, KBRA was awarded third place for the most rated CMBS transactions in the first half of 2012 among all rating agencies.
KBRA has issued ratings on 19 CMBS transactions since its inaugural rating in July 2011. “Our success is a tribute to our due diligence, transparency and distinctive analysis. Because of the quality of our ratings, we have been able to grow our market share in a very short period of time,” said Kim Diamond, Senior Managing Director and Head of Structured Finance at Kroll Bond Rating Agency. “Over the past year, the firm has established itself as a credible alternative to the incumbent rating agencies due to its new model of delivering data-driven analysis in transparent and timely reports.”
“Just past the anniversary of our first CMBS rating, our agency has made its mark not only in the CMBS sector, but across the board,” said Jules Kroll, Chairman and CEO of Kroll Bond Rating Agency.
“We have made significant progress in our business over the past year and are achieving our goal of establishing ourselves as a full-service rating agency,” said James Nadler, President and Chief Operating Officer of Kroll Bond Rating Agency. “In the coming year, investors will see our ratings and credit analysis on a greater number of transactions as we grow and continue to expand in other sectors.”
In addition to the strong performance in the CMBS area, KBRA’s other achievements during the past year include the following:
Its first rating of an Asset-Backed Securities transaction, Flagship Credit Auto Trust 2012-1, a subprime auto loan ABS deal. Its assignment of ratings to three Redwood Trust RMBS transactions the first half of 2012. Its first public finance sector rating for the State of Connecticut published in March. As a result of its AAA rating, in mid-April Connecticut sold $555 million of GO bonds, attracting $1.7 billion in orders from institutional investors. Its assignment of a long-term rating A+ rating with a stable outlook to the City of Waterbury, CT.
The agency continues to capitalize on its seasoned analysts’ expertise across the spectrum of asset classes and will expand into other areas in the coming months.
About Kroll Bond Rating Agency Kroll Bond Rating Agency, Inc. (www.krollbondratings.com) is registered with the SEC as a nationally recognized statistical rating organization (NRSRO). Kroll Bond Rating Agency was established in 2010 to restore trust in credit ratings by establishing new standards for assessing risk and by offering accurate, clear, and transparent ratings. KBRA was designated as a Credit Rating Provider (CRP).