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S&P Lowers Rating On 4 Mortgage Insurers

MGIC was dropped from "double-A-minus" to "A." In addition, Old Republic International Corp. was lowered from "double-A" to "double-A-minus; PMI Group Inc. was cut from "double-A" to "A-minus"; and Ra

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Standard & Poor’s lowered the financial strength rating of MGIC Investment Corp. and three other mortgage insurers yesterday, citing weaker than expected fourth-quarter results.

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