UNITE HERE Advisory: Hilton USA Trust 2016-SFP CMBS Holders Face Uncertainty Amid Special Servicer Transition
Holders of Hilton USA Trust 2016-SFP commercial mortgage pass-through certificates should be alert to a forthcoming transaction involving the loan’s special servicer, Wells Fargo Bank, N.A. The underlying loan has been in special servicing since June 2023, following Park Hotels…
Allianz Life Study Reveals Debt’s Impact on American Retirement Savings
The 2024 Annual Retirement Study from Allianz Life Insurance Company of North America (Allianz Life) reveals that a significant number of Americans are burdened by debt, with many concerned about how it will affect their financial futures. A majority—55%—of Americans…
United Bankshares, Inc. Secures Final Regulatory Approval for Piedmont Bancorp Acquisition
United Bankshares, Inc. (“United”) (NASDAQ: UBSI), the parent company of United Bank, has announced it has received all necessary regulatory approvals for its proposed merger with Piedmont Bancorp, Inc. (“Piedmont”), the parent company of The Piedmont Bank. “We are pleased…
Citi Strengthens Support for Guatemala’s Financial Ecosystem with Social Trade Loans
Citi has structured a Social Trade Loan for Banco Agromercantil de Guatemala (Bam) to provide crucial funding to small and medium enterprises (SMEs), fostering inclusive economic growth. This marks the first Social Trade Loan with Grupo Bancolombia. The approved amount…
Enhanced Customer Safety, Convenience, and Recognition Through Early Adoption of Gen AI
Commonwealth Bank of Australia (CBA) has highlighted the transformative impact of artificial intelligence (AI) on its services, improving customer experiences for its 10 million-plus customers. At a strategic update in Sydney, CBA showcased how AI is delivering a range of…
Goldman Sachs to Spin Out Digital Assets Technology Platform, GS DAP®
Goldman Sachs has announced plans to explore strategic opportunities for spinning out its GS DAP® technology platform from its Digital Assets business, aiming to transform it into an industry-owned distributed technology solution, pending regulatory approval. Along with this announcement, the…
RiverNorth/DoubleLine Fund Reports Final Results of Rights Offering
RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. Announces Final Results of Rights Offering for Common and Preferred Stock RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE: OPP) (“the Fund”) has released the final results of its recently concluded non-transferable rights offering (“the Offering”). The…
Western Asset Inflation-Linked Income Fund (NYSE: WIA) Announces Distribution Source Notification
Western Asset Inflation-Linked Income Fund (NYSE: WIA) Announces Distribution Source Notification The Western Asset Inflation-Linked Income Fund (“the Fund”) has provided an update regarding the estimated sources of its distribution to be paid on November 29, 2024, as well as…
First Trust Advisors L.P. Announces Distribution for Enhanced Short Maturity ETF
First Trust Advisors L.P. (“FTA”) has declared the monthly distribution for the First Trust Enhanced Short Maturity ETF, a series of the First Trust Exchange-Traded Fund IV. Below are the relevant details: Distribution Dates Ticker Exchange Fund Name Frequency Ordinary…
AM Best Reaffirms Credit Ratings of Arab War Risks Insurance Syndicate
AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) for the Arab War Risks Insurance Syndicate (AWRIS), based in Bahrain. The outlook for both ratings remains stable. Key Drivers…
AM Best Upgrades Credit Ratings for AzRe Reinsurance OJSC
AM Best has upgraded the Financial Strength Rating of AzRe Reinsurance, OJSC (AzRe) from B+ (Good) to B++ (Good) and the Long-Term Issuer Credit Rating from “bbb-” (Good) to “bbb” (Good). The outlook for both ratings remains stable. Key Factors…
SmartStream Research Reveals: 71% of Firms Invest in Reference Data to Boost Alpha Generation
SmartStream, a leader in financial Transaction Lifecycle Management (TLM®) solutions, in partnership with Acuiti Management Intelligence, has released the findings of a new survey. The report, titled “The Future of Reference Data: From Compliance to Alpha,” underscores the increasing importance…