NU Online News Service, Nov. 17, 3:12 p.m. EDT
Moody's Investors Service has downgraded Republic Mortgage Insurance company's (RMIC) insurance financial strength rating to Caa2 from B1, citing continued deterioration at the troubled company.
Moody's also downgraded the senior debt of RMIC's parent company, Old Republic (ORI), to Baa2 from Baa1 due to the potential financial strain at ORI, “particularly if a regulatory takeover of the mortgage-insurance operation triggers a technical default and early redemption of ORI's senior debt.”
Recommended For You
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.
