# KBRA Assigns BBB Stable Outlook to Cantor Fitzgerald's $500 Million Senior Notes > KBRA rated Cantor Fitzgerald's $500 million senior unsecured notes BBB with a stable outlook, with proceeds refinancing $350 million of debt due in 2027. - Published: 2026-10-16T21:54:44+00:00 - Section: Earnings & Results - Author: News Desk - URL: https://newsforagent.com/news/2026-10-16/kbra-rates-cantor-fitzgerald-notes - Source: [Business Wire](https://www.businesswire.com/news/home/20261016809707/en/) ## Key takeaways - KBRA assigned a BBB rating with a Stable Outlook to Cantor Fitzgerald's $500 million senior unsecured notes maturing October 15, 2029. - Proceeds will refinance $350 million of existing senior unsecured debt scheduled to mature on April 14, 2027, and fund general corporate purposes. - KBRA said Cantor's 2025 consolidated profitability was very strong and continued through the second quarter of 2026. KBRA assigned a BBB rating with a Stable Outlook to $500 million of senior unsecured notes issued by Cantor Fitzgerald, L.P., maturing October 15, 2029. [Business Wire](https://www.businesswire.com/news/home/20261016809707/en/) published the rating action on October 16, 2026. Proceeds will refinance $350 million of existing senior unsecured debt due April 14, 2027, and go toward general corporate purposes. ## KBRA's Rating and Cantor's Debt Refinancing Cantor Fitzgerald is a privately held New York capital markets, investment banking and asset management firm. It wholly owns two SEC-registered broker-dealers and holds controlling stakes in a publicly traded wholesale inter-dealer brokerage company and a commercial real estate brokerage, capital markets and client services company. Principal subsidiaries include Cantor Fitzgerald & Co, CF Secured, LLC, BGC Group, Inc., Newmark Group, Inc. And Cantor Fitzgerald Asset Management. KBRA said the ratings rest on management's long record of relatively steady operating results, adaptation to business and market evolution, emphasis on risk management, and consistent financial leverage and liquidity practices. The agency said consolidated profitability in 2025 was very strong and continued through the second quarter of 2026, helped by the favorable market backdrop and demand for Cantor's products and services, including at its core broker-dealer businesses, BGC and NMRK. KBRA said it continues to anticipate adjusted financial leverage will be managed in the 5x range on a through-the-cycle basis. Cantor Fitzgerald initiated coverage on Sol-Gel Technologies with an overweight rating, while other analysts issued mixed ratings, MarketBeat reported on October 14, 2026. ## KBRA's Recent Rating Actions KBRA assigned Anthropic a BB+ credit rating with a stable outlook, one notch below investment grade, [Crypto Briefing](https://cryptobriefing.com/anthropic-bb-plus-credit-rating-kbra/) reported on October 16, 2026. The rating accompanies a $35 billion financing deal led by Apollo, with $4.4 billion in subordinated debt yielding 8.5%. KBRA assigned preliminary ratings to 87 classes of mortgage pass-through notes from OBX 2026-J3 Trust, a $391.5 million prime RMBS, FinancialContent Business Page reported on October 13, 2026. The collateral consists of 319 fixed-rate loans with a weighted average original loan-to-value of 71.9% and a credit score of 786. ## Commerzbank, Cogent and Pemex Ratings JPMorgan kept its rating on Commerzbank at Neutral with a €39 price target, citing a 3% ECB rate in its model, [FinanzNachrichten.de](https://www.finanznachrichten.de/nachrichten-2026-10/69861157-jpmorgan-stuft-commerzbank-ag-auf-neutral-322.htm) reported on October 16, 2026. The analyst also raised his 2027 and 2028 estimates slightly. Cogent Communications' stock fell 10% after it hired Evercore to assist with refinancing its 2027 note, which is at risk, [TradingView](https://www.tradingview.com/news/seekingalpha:e86c12d59094b:0-cogent-comm-drops-on-report-it-hired-advisor-on-refinancing-concerns-s-p-downgrade/) reported on October 16, 2026. S&P Global Ratings cut the company's credit rating to CCC+ from B- because it had not refinanced the debt by last month. HR Ratings cut Pemex's global rating to BBB, matching its cut of Mexico's sovereign rating to BBB, [Expansion](https://expansion.mx/economia/2026/10/15/hr-ratings-baja-calificacion-de-pemex-en-linea-con-ajuste-a-nota-de-mexico) reported on October 16, 2026. Pemex's total debt fell 11.6% in the second quarter of 2026, supported by federal contributions. ## Cantor Fitzgerald's Next Steps Cantor Fitzgerald's $500 million notes carry a final maturity date of October 15, 2029. The $350 million of existing senior unsecured debt being refinanced was scheduled to mature on April 14, 2027. Cogent Communications is set to report third-quarter results on November 5, 2026, according to TradingView. ## Companies in this story - KBRA · website: https://www.kbra.com - [Cantor Fitzgerald company profile](https://akta.pro/company-profiles/0000mwg/cantor-fitzgerald) · website: http://cantor.com --- News for Agent · https://newsforagent.com/llms.txt