Business
KBRA Assigns Issuer Rating to Universal Insurance Holdings and Preliminary Rating to Senior Unsecured Note Offering
NEW YORK, April 30, 2026--KBRA assigns a BBB issuer rating to Universal Insurance Holdings, Inc. (NYSE: UVE) and a BBB preliminary long-term credit rating (LTCR) to UVE’s proposed $100 million fixed-rate senior unsecured notes (Notes) due 2031. The Outlook for both ratings is Stable.
About this update from Universal Insurance Holdings Inc
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":995,"height":201,"url":"https://media.zenfs.com/en/business-wire.com/a22acda93cde1b57c8837fad2f5ab356"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/k0ssaUBTgva_CwB4Tj8zTQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTE5NA--/https://media.zenfs.com/en/business-wire.com/a22acda93cde1b57c8837fad2f5ab356","width":960,"height":194},"lightbox":{"url":"https://s.yimg.com/ny/api/res/1.2/BO2_ToEPDEgAU9Lsg5cVpw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTE5OTA7aD00MDI-/https://media.zenfs.com/en/business-wire.com/a22acda93cde1b57c8837fad2f5ab356","width":995,"height":201}},"lazy":false},{"type":"text","content":"NEW YORK, April 30, 2026--(BUSINESS WIRE)--KBRA assigns a BBB issuer rating to Universal Insurance Holdings, Inc. (NYSE: UVE) and a BBB preliminary long-term credit rating (LTCR) to UVE’s proposed $100 million fixed-rate senior unsecured notes (Notes) due 2031. The Outlook for both ratings is Stable.","length":301,"tagName":"p"},{"type":"text","content":"UVE intends to use the net proceeds from the proposed offering to refinance its existing $100 million 5.625% senior unsecured notes due November 30, 2026, thereby extending UVE’s debt maturity profile to 2031, as well as for general corporate purposes. The Notes are expected to be senior unsecured obligations of UVE and to rank equally with the company’s current and future senior unsecured indebtedness, while remaining structurally subordinated to policyholder obligations and other liabilities of UVE’s subsidiaries.","length":521,"tagName":"p"},{"type":"text","content":"Key Credit Considerations","length":25,"tagName":"p"},{"type":"text","content":"The BBB issuer rating reflects a two-notch differential from the A- insurance financial strength ratings (IFSR) assigned to Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company (APPCIC). The issuer rating reflects UVE’s structural subordination to the regulated insurance subsidiaries and regulatory limits on insurance subsidiary dividends, partially offset by holding company liquidity resources, substantial recurring non-insurance subsidiary cash flow, modest financial leverage, strong debt service capacity, and demonstrated support of the operating companies...