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Genworth Mortgage Insurance Australia Provides Ratings Update

13 Sep 2017  |  18:40:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Ratings update

Genworth Mortgage Insurance Australia noted the outcomes of recent rating agency reviews with Fitch Ratings and Standard & Poor's (S&P) affirming the insurer financial strength ratings (IFSR) of Genworth Financial Mortgage Insurance Pty (GFMI) and Moody's Investors Service (Moody's) revising down its unsolicited IFSR. Fitch Ratings affirmed the 'A+' IFSR and maintained the outlook at stable noting a "robust standalone credit profile, solid operating performance, strong capital ratios and conservative investment approach. S&P affirmed the 'A+' IFSR and maintained the outlook at negative noting standalone credit profile, business risk profile and strong capital and earnings. Moody's has revised its unsolicited IFSR on GFMI from 'A3' with a negative outlook to 'Baa1' with a stable outlook.

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