Friday, July 11, 2008

Insurers of Mortgages Downgraded

Wall Street Journal (07/10/08) P. C12
Moody's Investors Service recently downgraded several mortgage insurers' financial strength ratings. PMI Mortgage Insurance Co. and PMI Insurance Co. watched their ratings fall to A3 from Aa2, and PMI Mortgage Insurance Co. Ltd. and PMI Guaranty Co. saw their ratings drop to A3 from Aa3. Meanwhile, American International Group Inc.'s United Guaranty Residential Insurance Co.'s rating was reduced one notch to Aa3.

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