MELBOURNE (Standard&Poor's) Nov. 4, 2011--Standard&Poor's Ratings Services said today that its ratings on Australia-based Genworth Financial Mortgage Insurance Pty Ltd. (Genworth Australia; AA-/Stable/--) and Genworth Financial Mortgage Indemnity Ltd. (Genworth Indemnity; A-/Stable/--), as well as on U.S.-based holding company Genworth Financial Inc. (Genworth Financial; BBB/Negative/A-2), are unchanged on announced plans to pursue a partial initial public offering (IPO) of Genworth Australia. Genworth Financial intends to divest up to a 40% stake of Genworth Australia in the second quarter of 2012, subject to market conditions and regulatory review and approval. This event has not led to a revision of Genworth Australia's very strong stand-alone-credit profile. We believe this potential transaction will support Genworth Australia's long-term financial flexibility.
