CMG Mortgage Insurance Co.'s (CMG MI) operating performance continues to stabilize, and notices of default and delinquencies are still declining. We are affirming our 'BBB-' rating on CMG MI and revising the outlook to positive from negative. The positive outlook reflects our opinion that the acquisition will be completed by early 2014, CMG MI will be successfully integrated, and the new business strategy will sufficiently season within the next two years. On Oct. 2, 2013, Standard&Poor's Rating Services affirmed its 'BBB-' financial strength and counterparty credit ratings on CMG Mortgage Insurance Co. (CMG MI). At the same time, we revised the outlook to positive from negative. The ratings reflect the improved operating performance at CMG MI (on a
