New Mortgage Insurance Criteria Applied To Global Rated Mortgage Insurers

TORONTO (Standard&Poor's) March 9, 2015--Standard&Poor's Ratings Services said today that it has reviewed its ratings on 12 (sub)groups consisting of 21 mortgage insurance companies primarily in Australia and the U.S. We have applied our new ratings criteria for mortgage insurers, which we published on RatingsDirect on March 2, 2015. Following the review, there were one downgrade and three upgrades among the (sub)groups as well as a few outlook changes (see list below). The ratings action on Hong Kong-based QBE Mortgage Insurance (Asia) Ltd. is due to the change in its group status to highly strategically important and the rating action on its parent group, QBE Lenders' Mortgage Insurance Ltd. We are also publishing analytical reports on

...TORONTO (Standard & Poor's) March 9, 2015--Standard & Poor's Ratings Services said today that it has reviewed its ratings on 12 (sub)groups consisting of 21 mortgage insurance companies primarily in Australia and the U.S. We have applied our new ratings criteria for mortgage insurers, which we published on RatingsDirect on March 2, 2015. Following the review, there were one downgrade and three upgrades among the (sub)groups as well as a few outlook changes (see list below). The ratings action on Hong Kong-based QBE Mortgage Insurance (Asia) Ltd. is due to the change in its group status to highly strategically important and the rating action on its parent group, QBE Lenders' Mortgage Insurance Ltd. We are also publishing analytical reports on each of the rated mortgage insurance (sub)groups included in this release....

Ratings Action