Verdant Rock Limited, a Bermuda-based insurer, announced on June 12, 2026, that it has received a BBB+ Long-Term Insurer Financial Strength Rating with a Stable Outlook from Fitch Ratings. The rating, combined with the company's Class 3B insurer license from the Bermuda Monetary Authority (BMA) effective May 6, 2026, positions Verdant Rock to extend financial guarantees on bonds and loans in emerging markets for beneficiaries globally.
The company provides irrevocable, unconditional, on-demand financial guarantees designed to qualify as eligible credit protection under Basel and major insurance solvency regimes. Verdant Rock focuses on private liabilities, excluding sovereigns, municipalities, or provinces. Its target assets include bonds and loans issued by emerging market corporations and banks, structured financings, asset-backed (ABS) and mortgage-backed (MBS) exposures, and project finance.
Tolga Uzuner, Co-Founder and CEO of Verdant Rock, stated: “The infrastructure and capital markets we are targeting have been systematically underserved over the past decade. 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 report can be accessed at Fitch Rates Verdant Rock at 'BBB+'; Outlook Stable. Verdant Rock's Class 3B registration can be verified via the BMA's register of regulated entities at https://www.bma.bm/regulated-entities by searching "Verdant Rock".
The licensing announcement from May 2026 is detailed in a Bernews article at https://bernews.com/2026/05/walkers-supports-verdant-rock-licensing/.
This development is significant because it addresses a gap in the market for investment-grade credit enhancement in emerging markets. Many infrastructure and capital market projects in these regions have struggled to secure financial guarantees that meet Basel and solvency requirements. Verdant Rock's entry with a BBB+ rating and regulatory approval provides a new option for issuers and investors seeking credit protection.
The company's focus on private liabilities, such as corporate bonds and project finance, differentiates it from entities that cover sovereign debt. By targeting underserved segments, Verdant Rock could facilitate increased capital flows into emerging market projects, potentially benefiting economic development and offering diversification opportunities for global investors.
However, the company notes that this announcement is for information only and not an offer to sell any security or financial guarantee. Credit ratings are not recommendations to buy, sell, or hold securities and may be subject to revision.
