Fitch Ratings has downgraded the long-term issuer and senior debt ratings of Triad Guaranty Inc. (TGIC) to 'A-' from 'A+'. Fitch has also downgraded the insurer financial strength (IFS) rating on TGIC's insurance subsidiary, Triad Guaranty Insurance Corp. (Triad) to 'AA-' from 'AA'. The Rating Outlook for both entities is Stable.The downgrades were the result of a recent revision to the rating agency's mortgage insurance capital model, Fitch said (see this post for more information on the criteria changes).
Triad Guaranty Hit With Credit Downgrades
Fitch Ratings said this morning that it has downgraded key credit ratings associated with Triad Guaranty: