New York — Standard & Poor's Ratings Services placed its ratings on five major U.S. mortgage insurers and their core and dependent foreign subsidiaries on CreditWatch with negative implications. These groups are Old Republic, PMI, MGIC, Radian and Genworth.
Standard & Poor's also placed its ratings on Radian Asset Assurance Inc. on CreditWatch. Standard & Poor's is still evaluating the impact of this CreditWatch on obligations Radian Asset guarantees. The ratings on some securities could be placed on CreditWatch negative, but Standard & Poor's will not lower any of them.
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