Verdant Rock Limited has received a BBB+ Long-Term Insurer Financial Strength Rating with a Stable Outlook from Fitch Ratings, effective 12 June 2026. The rating, coupled with the company's Class 3B Insurer license from the Bermuda Monetary Authority (BMA) granted on 6 May 2026, positions Verdant Rock to extend irrevocable, unconditional, on-demand financial guarantees on bonds and loans in emerging markets for beneficiaries worldwide.
The company's guarantees are designed to qualify as eligible credit protection under Basel and major insurance solvency regimes. Verdant Rock focuses exclusively 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.
Co-Founder and Chief Executive Officer Tolga Uzuner highlighted the strategic gap Verdant Rock aims to fill: "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 rating report is available at Fitch Rates Verdant Rock at 'BBB+'; Outlook Stable. The company's Class 3B registration can be verified via the BMA's register of regulated entities at https://www.bma.bm/regulated-entities (search "Verdant Rock").
This announcement comes after Walkers supported Verdant Rock's licensing in May 2026, as reported in Bernews. The company's entry into the market with an investment-grade rating and robust regulatory framework is expected to provide much-needed credit enhancement for emerging market debt, potentially lowering borrowing costs for corporations and banks in these regions.
Verdant Rock's guarantees are designed to meet the stringent requirements of Basel III and Solvency II, making them attractive to institutional investors seeking eligible credit protection. The stable outlook from Fitch reflects confidence in the company's capital adequacy and business model, despite the inherent risks of emerging markets.
The implications of this development are significant for the emerging market debt landscape. By offering financial guarantees that meet international regulatory standards, Verdant Rock can help bridge the gap between issuers and global capital markets, facilitating investment in infrastructure and other critical sectors. This could lead to increased liquidity and more favorable financing conditions for emerging market entities, ultimately supporting economic growth.
