Research Update: Genworth Australia Outlook Revised To Negative; Ratings Affirmed At 'A' - S&P Global Ratings’ Credit Research

Research Update: Genworth Australia Outlook Revised To Negative; Ratings Affirmed At 'A'

Research Update: Genworth Australia Outlook Revised To Negative; Ratings Affirmed At 'A' - S&P Global Ratings’ Credit Research
Research Update: Genworth Australia Outlook Revised To Negative; Ratings Affirmed At 'A'
Published May 15, 2020
5 pages (2183 words) — Published May 15, 2020
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Genworth Australia's earnings are sensitive to the weakened economic conditions associated with the COVID-19 pandemic. We continue to view Genworth Australia as having a strong competitive position, with a leading market share, and a strong capital position. We are revising our outlook on Genworth Australia to negative from stable. At the same time, we are affirming our ratings on Genworth Australia at 'A'. We are also affirming the 'BBB+' rating on its subordinated debt. Our negative outlook reflects our view that Genworth Australia's financial profile may deteriorate beyond our expectations in the upcoming 18-24 months, and be inconsistent with the 'A' rating. On May 15, 2020, S&P Global Ratings revised its outlook on Genworth Financial Mortgage Insurance Pty Ltd. (Genworth

  
Brief Excerpt:

...- Genworth Australia's earnings are sensitive to the weakened economic conditions associated with the COVID-19 pandemic. We continue to view Genworth Australia as having a strong competitive position, with a leading market share, and a strong capital position. - We are revising our outlook on Genworth Australia to negative from stable. At the same time, we are affirming our ratings on Genworth Australia at 'A'. We are also affirming the '###+' rating on its subordinated debt. - Our negative outlook reflects our view that Genworth Australia's financial profile may deteriorate beyond our expectations in the upcoming 18-24 months, and be inconsistent with the 'A' rating....

  
Report Type:

Research Update

Ticker
GNW
Issuer
Genworth Financial Mortgage Insurance Pty Ltd.
GICS
Property & Casualty Insurance (40301040)
Sector
Global Issuers , Structured Finance
Country
Australia
Region
United States
Format:
PDF Adobe Acrobat
Buy Now

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Genworth Australia Outlook Revised To Negative; Ratings Affirmed At 'A'" May 15, 2020. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Genworth-Australia-Outlook-Revised-To-Negative-Ratings-Affirmed-At-A-2437508>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Genworth Australia Outlook Revised To Negative; Ratings Affirmed At 'A' May 15, 2020. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Genworth-Australia-Outlook-Revised-To-Negative-Ratings-Affirmed-At-A-2437508>
  
US$ 225.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Residential Mortgage-Backed Securities from one place.