MetLife Inc., the largest U.S. life insurer, was downgraded by Fitch Ratings on the prospect of losses tied to investments including commercial real estate holdings. The issuer default rating was lowered to A from A+ on “concerns regarding the fragile nature of the economic recovery and continued deterioration in the commercial real estate market,” the ratings firm said today in a statement on the New York-based insurer. MetLife will probably report $2.2 billion to $2.6 billion in investment losses in the five quarters ending in December 2010, Fitch said.
MetLife Cut by Fitch on Commercial Real Estate Losses
Most Popular Articles
Latest Articles
Pennymac posts first-quarter profit of $39M
Loan production income shrank in the first quarter, but the company’s servicing business continues to grow
-
DOJ charges one of America’s top LOs in alleged mortgage fraud scheme
-
Top Producer Review: Features, pricing & alternatives
-
A&D Mortgage names new servicing manager
-
HUD aims to help protect communities from extreme heat
-
Freedom Mortgage founder addresses ’extraordinary’ credit profiles, profitability and products