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MGIC |
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NEW YORK -- Fitch Ratings has placed the 'AA+' insurer financial strength (IFS) ratings of Mortgage Guaranty Insurance Corporation (MGIC) and the 'A+' senior debt rating of MGIC Investment Corporation (MGIC Investment) on Rating Watch Negative as a result of the announced merger plan between MGIC Investment and The Radian Group Inc. Additionally, Fitch affirms MGIC Investment's 'A+' senior debt rating and the 'AA+' insurer financial strength (IFS) ratings of Mortgage Guaranty Insurance Corporation (MGIC), the primary mortgage insurance subsidiary of MGIC Investment. 62% of the mortgage loans with an original loan-to-value (OLTV) greater than 80% are covered by loan-level primary mortgage insurance policies provided by Mortgage Guaranty Insurance Corporation (MGIC), Radian Guaranty Inc. |
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