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
