Following the implementation of Standard&Poor's criteria for mortgage insurance companies, we have affirmed our ratings on Genworth Financial Mortgage Insurance Pty Ltd. (Genworth Australia) at 'A+'. The outlook has been maintained at developing, despite the negative outlook on the core operating life insurance subsidiaries of Genworth Financial Group Ltd. (Genworth Life; BBB-/Negative), given recent group management announcements on a review of strategic options relating to the Australian mortgage insurance operations. The ratings predominantly reflect our view of the insurer's very strong business and strong financial risk profile, which results in a standalone credit profile of 'a+'. On March 9, 2015, Standard&Poor's Ratings Services affirmed its insurer financial strength and issuer credit ratings on Genworth Australia at
