Verdant Rock Limited has received a BBB+ Long-Term Insurer Financial Strength Rating with a Stable Outlook from Fitch Ratings, effective 12 June 2026. Combined with a Class 3B Insurer license from the Bermuda Monetary Authority (BMA), effective 6 May 2026, the company is poised to extend irrevocable, unconditional, on-demand financial guarantees on bonds and loans in emerging markets for beneficiaries globally.
The guarantees are designed to qualify as eligible credit protection under Basel and major insurance solvency regimes, targeting private liabilities such as bonds and loans issued by emerging market corporations and banks, structured financings, asset-backed (ABS) and mortgage-backed (MBS) exposures, and project finance. The company does not cover sovereigns, municipalities, or provinces.
According to Tolga Uzuner, Co-Founder and Chief Executive Officer of Verdant Rock, the infrastructure and capital markets the company targets have been systematically underserved over the past decade. He stated, "Verdant Rock enters this space with an investment grade rating, a strong capital position, the regulatory standing, the technical capability, and the long-term commitment that issuers and their advisers have been unable to find elsewhere."
The Fitch Ratings report can be accessed here. Verdant Rock's Class 3B registration can be verified via the BMA's register of regulated entities by searching "Verdant Rock" at https://www.bma.bm/regulated-entities.
This development is significant because it provides a new source of credit enhancement for emerging market debt, which has faced a withdrawal of traditional monoline insurers and rating downgrades. The BBB+ rating indicates that Verdant Rock has adequate capacity to meet its financial commitments, even under adverse economic conditions, which could help reduce borrowing costs for issuers and expand access to capital for projects in developing economies.
The company's focus on private liabilities and compliance with Basel and Solvency II standards means its guarantees can be used by banks and insurers to optimize capital requirements, potentially unlocking additional lending capacity. The stable outlook reflects Fitch's expectation that Verdant Rock will maintain its strong capital position and risk management practices.
For the May 2026 licensing announcement, see https://bernews.com/2026/05/walkers-supports-verdant-rock-licensing/. This announcement is for information only and does not constitute an offer or solicitation to buy or sell any security, insurance product, or financial guarantee.
