On Aug. 21, 2007, Standard&Poor's Ratings Services revised its outlook on Fidelity National Financial Inc. (NYSE:FNF) and FNF's title insurance subsidiaries Alamo Title Insurance Co., Chicago Title Insurance Co., Chicago Title Insurance Co. of OR, Fidelity National Title Insurance Co., Security Union Title Insurance Co., and Ticor Title Insurance Co. (FNF Title) to stable from positive. At the same time, Standard&Poor's affirmed its 'BBB' counterparty credit rating on FNF and its 'A' counterparty credit and financial strength ratings on FNF Title. In addition, Standard&Poor's affirmed its 'BBB' senior debt, 'BBB-' subordinated debt, and 'BB+' preferred stock ratings on FNF. The revised outlook on FNF reflects the prolonged challenging environment for all title insurers. Under
