Standard&Poor's raised its counterparty credit and financial strength ratings on the seven title underwriters that constitute the Fidelity National Title Insurance Cos. Group (Fidelity National; see list) to single-'A' from single-'A'-minus on May 22, 2002. At the same time, Standard&Poor's raised its counterparty credit and senior debt ratings on Fidelity National's parent, Fidelity National Financial Inc. (FNF), to triple-'B' from triple-'B'-minus. The outlook on all these companies is stable. The ratings reflect Fidelity National's position as the leading domestic U.S. title insurance writer and its industry-leading operating results. Fidelity National continues to outpace its industry peers because of a lower expense ratio that is driven by a greater proportion of title revenue derived from direct business
