Verdant Rock Limited, a Bermuda-based insurance company, has received a BBB+ Long-Term Insurer Financial Strength Rating with a Stable Outlook from Fitch Ratings, effective June 12, 2026. The rating, combined with a Class 3B Insurer license from the Bermuda Monetary Authority (BMA) obtained on May 6, 2026, positions the company to extend financial guarantees on bonds and loans in emerging markets for global beneficiaries.
The company offers 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 and does not cover sovereigns, municipalities, or provinces. Its remit includes bonds and loans issued by emerging market corporations and banks, structured financings, asset-backed (ABS) and mortgage-backed (MBS) exposures in securities or loan format, and project finance.
“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,” said Tolga Uzuner, Co-Founder and Chief Executive Officer of Verdant Rock Limited.
The Fitch Ratings 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."
This development is significant as it addresses a long-standing gap in credit enhancement for emerging market issuers. Many corporations and banks in these regions have faced difficulties obtaining investment-grade guarantees, limiting their access to international capital markets. Verdant Rock's entry with a BBB+ rating and regulatory approval from the BMA provides a new avenue for these entities to secure credit protection that meets Basel and Solvency II standards.
The company's focus on private liabilities rather than sovereign debt distinguishes it from other guarantors. By targeting corporate bonds, structured finance, and project finance, Verdant Rock aims to support infrastructure and capital market development in emerging economies. The stable outlook from Fitch indicates confidence in the company's capital strength and business model.
For the May 2026 licensing announcement, see Walkers Supports Verdant Rock Licensing.
