Under Standard&Poor's Ratings Services' recently revised insurance criteria, we derived an 'a-' group credit profile for Genworth Financial Inc. based on its strong business risk profile (BRP) and moderately strong financial risk profile (FRP). The BRP reflects a strong diversified competitive position based on Genworth's national presence in the U.S. individual life insurance, long-term care insurance, and individual annuity marketplace, as well as its global presence in mortgage insurance. The moderately strong FRP reflects generally strong capital strength and less-than-adequate financial flexibility stemming from low consolidated fixed-charge coverage. The group faces low country risk because most of its operations are in the U.S. Our low country risk scoring for the U.S. arises from its stable economic growth prospects,
