Latest news with #Fidelis
Business Wire
12 hours ago
- Business
- Business Wire
Fidelis Investors Closes Second Rated RTL Securitization, FID 2025-RTL2, Illustrating Continued Demand Amid Tariff Volatility
NEW YORK--(BUSINESS WIRE)--Fidelis Investors, a leading alternative asset manager with over $1 billion in assets under management, today announced the closing of its second rated Residential Transition Loan (RTL) securitization, FID 2025-RTL2. The transaction marks another important step in Fidelis' mission to bring scale, structure, and transparency to the RTL market, while broadening institutional investor access to housing rehabilitation financing. It also demonstrates continued demand amid recent market volatility stemming from tariffs. Rated by Morningstar DBRS, FID 2025-RTL2 is a two-year revolving, $144.525mm securitization backed by 308 RTLs across 24 different lenders, led by Unitas Funding, LLC, a wholly owned subsidiary of Fidelis. Additional eligible RTLs may be added to the portfolio in future transfer periods, subject to the transaction's eligibility criteria. 'This second RTL securitization continues our mission to institutionalize the asset class while creating investor access to an underserved but essential segment of the housing market,' said Brian Tortorella, Managing Partner at Fidelis Investors. 'With a seasoned and standardized platform, Fidelis is building repeatable capital markets solutions that connect institutional demand to America's housing supply challenge.' 'Jefferies commends Fidelis' ability to drive best in class securitization pricing with a well-diversified orderbook,' said Michael Wade, Co-Head of Securitized Markets Group, Capital Markets at Jefferies. 'We look forward to continuing to support Fidelis' mission as they become a programmatic securitization issuer and mainstay in the capital markets ecosystem.' FID 2025-RTL2 follows the firm's inaugural securitization in February 2025 and was oversubscribed across all tranches, with both repeat participants and new investors joining the book. This strong demand reflects growing familiarity with RTLs as an asset class and confidence in the Fidelis platform. 'The market response to this transaction validates our approach and demonstrates that more investors are becoming comfortable with and excited about this asset class,' said Michael Tessitore, Managing Partner at Fidelis Investors. 'We're proud to bring another high-quality securitization to the market that serves both investors and communities.' The firm's second RTL securitization comes after a brief market slowdown earlier this year due to tariff-related disruptions that temporarily paused issuance across the securitization market. Activity has since normalized, and current yields are largely in line with pre-tariff levels. Fidelis' ability to execute another securitization so soon after its first reflects its long-term vision to become a programmatic issuer, offering investors repeatable access to this emerging asset class. Christopher Schmidt, Managing Director at Jefferies, agreed. 'We are pleased to be part of the ongoing growth of the Fidelis enterprise, as they continue to separate themselves as a premier leader in the RTL securitization, origination and asset management space,' he said. 'Whether held on the balance sheet or brought to market, we've been committed to the RTL space since 2013,' added Tortorella. 'Rated securitizations are a natural evolution for us, opening new investor channels while supporting liquidity and competitive financing terms for housing rehabilitation loans.' Jefferies served as sole lead manager and bookrunner. About Fidelis Investors Founded in 2020 and headquartered in Cranford, New Jersey, Fidelis Investors is an alternative asset manager serving institutional investors with strategies across mortgage debt, structured finance, asset-based lending, and real estate. Fidelis has invested approximately $4.5 billion through 16 Mortgage & Real Estate Debt Funds and continues to lead efforts to modernize access to housing-related credit with transparent, scalable solutions. About Jefferies Jefferies is a leading global, full-service investment banking and capital markets firm that provides advisory, sales and trading, research, and wealth and asset management services. With more than 40 offices around the world, Jefferies offers insights and expertise to investors, companies, and governments.
Business Wire
16-06-2025
- Business
- Business Wire
AM Best Assigns Issue Credit Rating to Fidelis Insurance Holdings Limited Subordinated Notes
OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of 'bbb-' (Good) to $400 million 7.75% fixed rate subordinated notes, due June 15, 2055 issued by Fidelis Insurance Holdings Limited (Fidelis) (Bermuda). The outlook assigned to this Credit Rating (rating) is stable. The existing ratings of Fidelis and its subsidiaries are unchanged. The release relates to the previously assigned indicative Long-Term IR of this note which has been withdrawn. Fidelis intends to use proceeds of this issue to repay outstanding preference shares, while the remainder will be used for general corporate purposes. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit
Associated Press
16-06-2025
- Business
- Associated Press
AM Best Assigns Issue Credit Rating to Fidelis Insurance Holdings Limited Subordinated Notes
OLDWICK, N.J.--(BUSINESS WIRE)--Jun 16, 2025-- AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of 'bbb-' (Good) to $400 million 7.75% fixed rate subordinated notes, due June 15, 2055 issued by Fidelis Insurance Holdings Limited (Fidelis) (Bermuda). The outlook assigned to this Credit Rating (rating) is stable. The existing ratings of Fidelis and its subsidiaries are unchanged. The release relates to the previously assigned indicative Long-Term IR of this note which has been withdrawn. Fidelis intends to use proceeds of this issue to repay outstanding preference shares, while the remainder will be used for general corporate purposes. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best'sRecent Rating Activityweb page. For additional information regarding the use and limitations of Credit Rating opinions, please viewGuide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please viewGuide to Proper Use of Best's Ratings & © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on CONTACT: Antonieta Iachetta Associate Director +1 908 882 1901 [email protected] Guilherme Monteiro Simoes, CFA Senior Financial Analyst +1 908 882 2317 [email protected] Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 [email protected] Al Slavin Senior Public Relations Specialist +1 908 882 2318 [email protected] KEYWORD: EUROPE UNITED STATES NORTH AMERICA NEW JERSEY INDUSTRY KEYWORD: PROFESSIONAL SERVICES INSURANCE FINANCE SOURCE: AM Best Copyright Business Wire 2025. PUB: 06/16/2025 10:25 AM/DISC: 06/16/2025 10:23 AM
Business Wire
09-06-2025
- Business
- Business Wire
AM Best Assigns Indicative Issue Credit Rating to Fidelis Insurance Holdings Limited Subordinated Notes
BUSINESS WIRE)-- AM Best has assigned an indicative Long-Term Issue Credit Rating (Long-Term IR) of 'bbb-' (Good) to fixed rate subordinated notes to be issued by Fidelis Insurance Holdings Limited (Fidelis) (Bermuda). The outlook assigned to this Credit Rating (rating) is stable. The assigned rating for securities that may be issued under the shelf registration statement is consistent with the ranking of the notes, which mature in 2055. Fidelis is targeting an issuance size of up to $400 million. Fidelis' adjusted financial leverage might temporarily increase following the issuance but it is expected to return to its long-term guidance. Interest coverage ratio is within AM Best's guidelines. Some of the proceeds of the offering will be used to repay outstanding preference shares, while the remainder will be used for general corporate use. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit
Yahoo
19-05-2025
- General
- Yahoo
Remembering David Hodson: Knoxville veteran who led 150 Marines to Iraq and back dies at 76
KNOXVILLE, Tenn. (WATE) — The top sergeant who took 150 Marines from Delta Company in Knoxville to Iraq in 1990 has passed away. Retired Sergeant Major David Hodson spoke with 6 News three years ago for Veterans Voices. Hodson lived the US Marine Corps motto, Semper Fidelis, all his adult life. After 26 years, he retired from the Marine Reserves as a sergeant major, the highest non-commissioned officer rank. He joined the US Marines out of high school in 1968 and served two tours in Vietnam. Laurel County sheriff gives list of locations providing resources for tornado victims Assigned to the 1st Marine Division in his first tour, the regiment saw combat. Three Hodson brothers served in the Marines. David returned to Vietnam for a second tour. He was told not to wear his Marine uniform home in 1970, at the height of the anti-war movement. He wore it anyway. Hodson remained in the Marine Corps Reserve and served in another war: Desert Storm. The headline in December 1990 said, 'Knox Marine reservists ship out for training, await Mideast call' – it caught everyone's attention. Then, First Sgt. Hodson assembled his 150 Marines from Company D, 4th Combat Engineers in Knoxville and made a vow. 'I said, if you will pray every single day for us. I said I will promise you, we will go before our lord every single day. And I know if we do that, we will come back home together,' Hodson told Dare in 2022. 4-year-old rescued after standoff in Sevier County, SCSO said Keeping his word, Company D cut a chapel in the Iraqi sand, and unit preachers led the services. 'Even during the war, we took 15 minutes out. We knew that was the time to ask God to protect us. He did. He sure did; he brought us back home,' said Hodson. Every member of Company D returned to East Tennessee in late spring 1991. 'It was the greatest welcome I ever had. I'll go to my grave thanking everybody for taking the time to come out and welcome me home that day,' said Hodson. His family and the Marine family mourn his passing. Hodson was 76 years old. Services for Hodson were conducted at the East Tennessee Veterans Cemetery last week. Veterans Voices: Hear the stories of those who served Before he passed away from brain cancer, some of Hodson's former Marine buddies came from across the country to say 'Thank you,' and told him they loved him. Many colleagues from the Knox County courthouse also visited him, who had most recently been a court bailiff. He is survived by his wife, Brenda, two children, seven grandchildren, her brother, and his sisters. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
