Standard & Poor's Ratings Services has increased its scrutiny of mortgage insurer Financial Guaranty Insurance Company, placing its "double-B" financial strength rating on CreditWatch with negative implications.
The FGIC rating previously had a negative outlook. S&P said Friday that it has placed all other FGIC ratings, as well as those of parent company FGIC Corp., on CreditWatch with negative implications.
Back in March S&P put the FGIC "A" rating and the FGIC Corp. holding company "triple-B" rating on CreditWatch with negative implications. S&P said then it did not like FGIC's announced plan to split into two firms, with one keeping its less palatable risks.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.