Latest news with #Fidelis
Business Wire
15 hours ago
- Business
- Business Wire
AM Best Assigns Indicative Issue Credit Rating to Fidelis Insurance Holdings Limited Subordinated Notes
BUSINESS WIRE)-- AM Best has assigned an indicative Long-Term Issue Credit Rating (Long-Term IR) of 'bbb-' (Good) to fixed rate subordinated notes to be issued by Fidelis Insurance Holdings Limited (Fidelis) (Bermuda). The outlook assigned to this Credit Rating (rating) is stable. The assigned rating for securities that may be issued under the shelf registration statement is consistent with the ranking of the notes, which mature in 2055. Fidelis is targeting an issuance size of up to $400 million. Fidelis' adjusted financial leverage might temporarily increase following the issuance but it is expected to return to its long-term guidance. Interest coverage ratio is within AM Best's guidelines. Some of the proceeds of the offering will be used to repay outstanding preference shares, while the remainder will be used for general corporate use. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit
Yahoo
19-05-2025
- General
- Yahoo
Remembering David Hodson: Knoxville veteran who led 150 Marines to Iraq and back dies at 76
KNOXVILLE, Tenn. (WATE) — The top sergeant who took 150 Marines from Delta Company in Knoxville to Iraq in 1990 has passed away. Retired Sergeant Major David Hodson spoke with 6 News three years ago for Veterans Voices. Hodson lived the US Marine Corps motto, Semper Fidelis, all his adult life. After 26 years, he retired from the Marine Reserves as a sergeant major, the highest non-commissioned officer rank. He joined the US Marines out of high school in 1968 and served two tours in Vietnam. Laurel County sheriff gives list of locations providing resources for tornado victims Assigned to the 1st Marine Division in his first tour, the regiment saw combat. Three Hodson brothers served in the Marines. David returned to Vietnam for a second tour. He was told not to wear his Marine uniform home in 1970, at the height of the anti-war movement. He wore it anyway. Hodson remained in the Marine Corps Reserve and served in another war: Desert Storm. The headline in December 1990 said, 'Knox Marine reservists ship out for training, await Mideast call' – it caught everyone's attention. Then, First Sgt. Hodson assembled his 150 Marines from Company D, 4th Combat Engineers in Knoxville and made a vow. 'I said, if you will pray every single day for us. I said I will promise you, we will go before our lord every single day. And I know if we do that, we will come back home together,' Hodson told Dare in 2022. 4-year-old rescued after standoff in Sevier County, SCSO said Keeping his word, Company D cut a chapel in the Iraqi sand, and unit preachers led the services. 'Even during the war, we took 15 minutes out. We knew that was the time to ask God to protect us. He did. He sure did; he brought us back home,' said Hodson. Every member of Company D returned to East Tennessee in late spring 1991. 'It was the greatest welcome I ever had. I'll go to my grave thanking everybody for taking the time to come out and welcome me home that day,' said Hodson. His family and the Marine family mourn his passing. Hodson was 76 years old. Services for Hodson were conducted at the East Tennessee Veterans Cemetery last week. Veterans Voices: Hear the stories of those who served Before he passed away from brain cancer, some of Hodson's former Marine buddies came from across the country to say 'Thank you,' and told him they loved him. Many colleagues from the Knox County courthouse also visited him, who had most recently been a court bailiff. He is survived by his wife, Brenda, two children, seven grandchildren, her brother, and his sisters. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
30-04-2025
- Business
- Yahoo
Morrisey signs priority bill meant to incentivize data centers, microgrids locating in WV
Gov. Patrick Morrisey signed House Bill 2014, the Power Generation and Consumption Act, into law on Wednesday, April 30, 2025, in Point Pleasant, near the future site of the Fidelis 2,000-plus acre Monarch AI Data Center Campus. (West Virginia Office of Gov. Patrick Morrisey | Courtesy photo) Gov. Patrick Morrisey on Wednesday signed into law a bill that, if things go the way he and other legislators hope, is meant to encourage data centers to locate in West Virginia and generate their own power sources through microgrids. House Bill 2014 — dubbed the Power Generation and Consumption Act — was one of the more complicated bills to make it through the 2025 regular session. It was a late edition to Morrisey's legislative agenda, being introduced on March 18 — more than halfway through the 60-day session. The bill was subject to dozens of amendments as it made its way through both the House and Senate, including changes to how taxes collected on data centers would be distributed, policies regarding how microgrids would operate and requirements for those microgrids, as well as other utilities. The bill initially passed the House on April 1. After more changes in the Senate, lawmakers there approved their own version on April 11. On the final night of session, the two chambers did find compromise on an even different version of the bill, with the House passing the amended version 82-16 with two members absent and not voting. The Senate concurred with the House's changes to the legislation and voted yet again to pass the legislation, sending it to Morrisey's desk for signage. Those who voted against HB 2014 in both chambers shared concerns over the potential for electric rate increases if the bill were to pass. They also voiced discontent with measures that removed local control and enforcement of certain regulations for counties and municipalities where data centers could be built. The version of the bill that now stands as law is aimed at recruiting the establishment of data centers in West Virginia. It allows any data centers that do locate here to curtail local zoning ordinances and other regulatory processes and establishes a certified microgrid program, which means data centers can produce and use their own power without attaching to already existing utilities. The law also creates a specialized tax structure for data centers and microgrids, which must be placed in designated districts. Local governments have little say or control over those districts, which are established at the state level. Taxes collected on any data centers and microgrids operating in West Virginia would be split as so: 50% will go to the personal income tax reduction fund, 30% will go to the county where the data center is located, 10% will go to the remaining 54 counties split on a per capita basis using the most recent U.S. Census, 5% will be placed in the Economic Enhancement Grant Fund administered by the Water Development Authority and the final 5% will be put in the newly created Electric Grid Stabilization and Security Fund. That fund is meant to help existing utilities develop and maintain infrastructure for continued generation and transmission of coal-fired and natural gas-fueled power. Morrisey signed the bill in Point Pleasant on Wednesday, right outside the future site of the Fidelis Monarch AI Data Center Campus. 'In order for West Virginia to reach its potential, we must continue to focus on economic development and utilizing our many natural resources,' Morrisey said. 'The Power Generation and Consumption Act will make West Virginia the most attractive state in the country for data centers and help America better compete with China in the technology arms race of the future.'
Yahoo
15-04-2025
- Business
- Yahoo
$800M carbon capture facility to be built at Port of Greater Baton Rouge
BATON ROUGE, La. (Louisiana First) — An $800 million carbon capture facility will be built at the Port of Greater Baton Rouge, Houston-based energy infrastructure company Fidelis announced Tuesday. Fidelis' portfolio company AtmosClear BR, LLC signed a contract with Microsoft for the world's largest deal for permanent carbon removal, with 6.75 million metric tons to be removed over 15 years, according to a news release. Microsoft Senior Director of Energy & Carbon Removal Brian Marrs said the deal is part of the company's plan to reach a goal of becoming carbon negative by 2030. 'This contract with Microsoft marks a transformative moment for the high-quality, engineered carbon removal market,' Fidelis CEO Daniel J. Shapiro said. 'AtmosClear showcases how proven technologies, paired with sustainable feedstocks like sugarcane bagasse and forest management materials, can deliver meaningful climate impact while providing quality jobs, economic development, and other community benefits.' Construction is scheduled to start in 2026. The project is estimated to create 75 permanent jobs and 600 construction jobs. Commercial operations are slated to start in 2029. World's largest low-carbon ammonia plant coming to Ascension Parish, governor says Trump administration freezes $2.2 billion in federal funds for Harvard University Biden to rally support for Social Security in one of first major speeches since leaving office Trump threatens Harvard's tax exempt status $800M carbon capture facility to be built at Port of Greater Baton Rouge 1 hurt after train strikes car in Pointe Coupee Parish, officials say Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
15-04-2025
- Business
- Yahoo
Fidelis' AtmosClear signs agreement with Microsoft for high-quality carbon removal from project in Louisiana
PORT OF GREATER BATON ROUGE, La., April 15, 2025 /CNW/ -- AtmosClear BR, LLC ("AtmosClear"), a portfolio company of Fidelis, announced that it has signed a contract with Microsoft for 6.75 million metric tons of engineered carbon removal over 15 years from bioenergy carbon capture & storage ("BECCS"). The deal is the world's largest for permanent carbon removal to date. AtmosClear is developing a carbon capture facility at the Port of Greater Baton Rouge in Louisiana. The plant will use sustainable materials like sugarcane bagasse and trimmings from prudent forest management to produce clean energy while capturing 680,000 metric tons of biogenic carbon dioxide per year for permanent storage or beneficial use, like as a feedstock for low-carbon natural gas or other synthetic fuels. Construction is planned to start in 2026 and commercial operations in 2029. Fidelis estimates that the project will result in over $800 million of investment and approximately 75 permanent and 600 construction jobs, while supporting a significant revival of forestry management jobs impacted by mill closures in the area. "This contract with Microsoft marks a transformative moment for the high-quality, engineered carbon removal market," said Daniel J. Shapiro, CEO of Fidelis. "AtmosClear showcases how proven technologies, paired with sustainable feedstocks like sugarcane bagasse and forest management materials, can deliver meaningful climate impact while providing quality jobs, economic development, and other community benefits. We are proud to build infrastructure in Baton Rouge, a place many of us at Fidelis have called home, that not only removes carbon from the atmosphere but also provides economic opportunity for Louisiana." "We are proud to work with Fidelis on this pathbreaking project, which will bring together science, engineering, and commercial innovations to offer a compelling model for carbon removal in the United States," said Brian Marrs, Senior Director of Energy & Carbon Removal at Microsoft. "High-quality, durable carbon removal solutions from experienced developers like Fidelis are vital for Microsoft in progressing its goal to become Carbon Negative by 2030." About AtmosClear. AtmosClear is developing a carbon capture facility at the Port of Greater Baton Rouge in Louisiana. The plant will use sustainable materials like sugarcane bagasse and trimmings from prudent forest management to produce clean energy while capturing 680,000 metric tons of biogenic carbon dioxide per year for permanent storage or beneficial use, like as a feedstock for low-carbon natural gas or other synthetic fuels. Learn more at About Fidelis. Fidelis is an energy infrastructure company driving decarbonization through development and investments in biofuels, low- or negative-carbon intensity products, and carbon capture & storage companies. Fidelis employs a growing portfolio of proprietary, patented, and patent-pending technologies to address climate and energy security challenges. Headquartered in Houston, Texas, Fidelis also has an office in Copenhagen, Denmark. Learn more at Media Contacts: View original content to download multimedia: SOURCE Fidelis New Energy, LLC View original content to download multimedia: Sign in to access your portfolio
