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Rating Company
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Genworth Financial Rating
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Standard & Poor's
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AA (very strong)
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Moody's
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Aa3 (excellent)
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Fitch
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AA (very strong)
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In early 2008, international ratings agencies made changes to the outlook, or opinion, regarding the likely direction of a rating over the medium term, of all US based mortgage insurers. These changes were from stable to negative. According to Standard & Poor’s ‘this change in outlook is a result of the ongoing uncertainty in the U.S. mortgage and housing markets that could impact the mortgage insurance industry.’
Despite the current global environment, Genworth is well placed to maintain its position as industry leader in Australia.
“Genworth Group’s operating results compare favorably with those of its peer group. Genworth Group’s operating margin has held up better than its peers; it had the only positive industry margin in 2007 at 35.8%. Its operating margin went negative in the first half of 2008, but it still outperformed most peers.”
- Standard & Poor's; 28 August 2008
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