Items Tagged with 'Bond credit rating'


  • Fitch Keeps Eye on MGIC after Q2 Loss

    Fitch Ratings downgraded the insurer financial strength (IFS) rating of Mortgage Guaranty Insurance Corp. (MGIC) to triple-B minus from triple-B after the company reported a $339.8m loss for Q209. The long-term debt and senior debt ratings of its parent company MGIC Investment Corp. landed on Fitch’s Rating Watch Negative, but the insurance giant down-streamed $500m of capital to a new subsidiary, MGIC Indemnity, with the goal of continuing to write mortgage insurance, according to a release from Fitch.
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  • Fitch Warns on $18.1B in Recent-Vintage CMBS

    Fitch Ratings said Wednesday that it had placed 532 classes from 50 fixed-rate CMBS conduit transactions from the 2006 through 2008 vintages on Rating Watch Negative -- meaning downgrades are highly likely in the next few weeks for affected deals. The rating agency said a recent review of the expected economic conditions and their effect on CMBS performance led the firm to estimate performance closer to a 'moderate to severe' scenario the agency ahd outlined last July, with commercial property values falling as much as 35 percent.
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  • Here We Go Again: S&P Slashes Thousands of RMBS Ratings

    There's a saying about death by a thousand paper cuts, and that's clearly been taking place for most of the private mortgage-backed securities market over the course of the past twelve months. On Monday, Standard & Poor's Ratings Services lowered the boom -- again -- on thousands of Alt-A and subprime RMBS, moving them all to a 'D' rating, as well as cutting hundreds of formerly AAA-rated securities multiple notches from their previous perch atop the ratings heap. The agency also began cutting ratings on prime deals, as well.
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