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Bulletin: Rating On Genworth Australia Unaffected By Downgrade Of Genworth Mortgage Insurance Co. Jan 12
Standard & Poors, Jan 2012
Abstract
MELBOURNE (Standard & Poor's) Jan. 31, 2012-Standard & Poor's Ratings Services said today that the 'AA-' counterparty credit rating and stable outlook on Genworth Financial Mortgage Insurance Pty Ltd. (Genworth Australia) were unaffected by the Jan. 30, 2012, downgrade of its related company and partial reinsurer, Genworth Mortgage Insurance Corp. (GMICO) to 'B/Neg/--' from 'BB-/Neg/--'. The ratings on Genworth U.S. life insurance companies were also unaffected by these actions (see Research Update: 'Genworth Mortgage Insurance Corp. Rating Lowered To ?B? From ?BB-?; Outlook Negative', published to Global Credit Portal on Jan. 30, 2012). This view is consistent with the one expressed in previous bulletins and reports on Genworth Australia. The ratings on GMICO were lowered by two notches due to...
Companies mentioned in this report are: Genworth Financial Mortgage Insurance Pty Ltd.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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