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21.10.2009 | 22:43
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Business Wire · Mehr Nachrichten von Business Wire

Fitch Withdraws 'BBB' IFS of United Guaranty Residential Insurance Company; Outlook Negative

Fitch Ratings has withdrawn the ''BBB'' Insurer Financial Strength (IFS) rating of United Guaranty Residential Insurance Company (UGRIC). The Rating Outlook is Negative. Fitch no longer has sufficient information to maintain the rating going forward.

Headquartered in Greensboro, NC, UGRIC''s ultimate parent is American International Group, Inc. (rated ''BBB'' with an Evolving Outlook by Fitch). On a consolidated basis, UGRIC and its first-lien mortgage insurance affiliates maintained total statutory assets and statutory capital of $3.5 billion and $1.3 billion, respectively, supporting $27.2 billion of risk-in-force on Dec. 31, 2008.

Fitch has withdrawn the rating of UGRIC as follows:

--IFS ''BBB''; Outlook Negative.

Additional information is available at www.fitchratings.com.

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY''S PUBLIC WEBSITE WWW.FITCHRATINGS.COM. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH''S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE ''CODE OF CONDUCT'' SECTION OF THIS SITE.

Contacts:

Fitch Ratings, New York
Davie Rodriguez, 212-908-0386
Jeffrey Berkes, 212-908-0734
or
Brian Bertsch, 212-908-0549 (Media Relations)
brian.bertsch@fitchratings.com


© 2009 Business Wire

Link: http://www.finanznachrichten.de/nachrichten-2009-10/15259757-fitch-withdraws-bbb-ifs-of-united-guaranty-residential-insurance-company-outlook-negative-004.htm