TORONTO (Standard&Poor's) June 21, 2010--Standard&Poor's Ratings Services today said it assigned its debt rating of 'A-' to Genworth MI Canada Inc. (GMIC)'s 5.68% C$275 million senior unsecured debt due June 15, 2020. "The rating on the debt issuance reflects the counterparty credit rating of 'A-' on GMIC," said Standard&Poor's credit analyst Hardeep Manku. The debt issuance, the first by the company and a drawdown on the shelf filed on May 7, 2010, will introduce financial leverage to the capital base. It is our understanding that the company will use the proceeds from the current debt issuance to fund transactions among GMIC and its subsidiaries, for general corporate and investment purposes, and/or to fund a
