CMG Mortgage Insurance Co.'s delinquencies and losses, which historically have been lower than peers', were elevated through December 2009 because of macroeconomic conditions. As a result, we have lowered the counterparty credit and financial strength ratings on the company to 'BBB' from 'BBB+'. The outlook is negative because we expect the company's higher levels of losses and delinquencies to persist at least through 2010. On Feb. 17, 2010, Standard&Poor's Ratings Services lowered its counterparty credit and financial strength ratings on CMG Mortgage Insurance Co. (CMG MI) to 'BBB' from 'BBB+'. At the same time, Standard&Poor's removed these ratings from CreditWatch, where they were placed on Oct. 27, 2009, with negative implications. The outlook is negative. Because
