We downgraded Genworth Financial Group today. We are also downgrading Genworth Canada MI Inc. and Genworth Financial Mortgage Insurance Co. Canada. The negative outlook reflects a potential further downgrade of Genworth Financial. On Nov. 6, 2014, Standard&Poor's Ratings Services lowered its ratings on Genworth Canada MI Inc. to 'BBB+' from 'A-' and Genworth Financial Mortgage Insurance Co. Canada to 'A+' from 'AA-'. At the same time, we revised our outlook to negative from stable. Our rating actions on the Canadian mortgage insurance businesses are driven by the developments in Genworth Financial Group's U.S. life insurance operations. The ratings on the insulated Canadian businesses are capped at three notches above the group credit profile under our group ratings methodology,
