MELBOURNE (Standard&Poor's) Feb. 27, 2009--Standard&Poor's Ratings Services said today that it had lowered to 'AA-' from 'AA' its counterparty credit and financial strength ratings on Australian-based lenders mortgage insurer Genworth Financial Mortgage Insurance Pty Ltd. (Genworth Australia). At the same time, the outlook on the rating was revised to stable, from negative. These rating actions follow the rating downgrade overnight of the U.S.-based Genworth Life insurance companies to A/Stable from AA-/Negative, which moved the rating differential to Genworth Australia outside the maximum two-notch tolerance that Standard&Poor's had articulated in its release of Dec. 17, 2008. The revision of the rating on Genworth Australia to 'AA-' reinstates this two-notch differential to the U.S. life ratings,
