Standard & Poor's Rating Services said it lowered its insurer financial strength ratings and long-term issuer credit ratings on Radian Guaranty Inc., Radian Mortgage Insurance Inc., Radian Mortgage Assurance Inc. (collectively Radian MI), and Mortgage Guaranty Insurance Corp. and MGIC Indemnity Co. (collectively MGIC). At the same time, it lowered its long-term issuer credit rating on Radian Group Inc. (Radian) to CCC-minus from CCC.

Standard & Poor's affirmed the ratings on Radian Asset Assurance Inc. (Radian Group's bond insurance subsidiary), Genworth Mortgage Insurance Corp. (GMICO), Genworth Residential Mortgage Insurance Corp. of North Carolina, and the unsolicited ratings on MGIC's parent company MGIC Investment Corp. (MTG). The outlook on all of the companies is negative.

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