S&P has lowered the financial strength ratings on Genworth Life Insurance Co., Genworth Life and Annuity Insurance Co. and Genworth Life Insurance Co. of New York to 'BBB+' from 'A-'. As a result, the financial strength ratings on Genworth Financial Mortgage Insurance Pty Ltd., the active Australian lenders' mortgage insurance (LMI) business, have been lowered to 'A+' from 'AA-', with the ratings being capped at three notches above the group credit profile. The outlook is negative, in line with that on the core life insurance companies of the Genworth group. The subordinated debt ratings on Genworth Financial Mortgage Insurance Pty Ltd. have been lowered to 'A+' to 'A'. The 'A-' rating on Australian LMI run-off subsidiary Genworth Financial Mortgage Indemnity
