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LandAm Acquisition Leads to Downgrade at Fidelity National

Dec 30, 2008By

At least one rating agency expressed concerns last week about the acquisition of now-bankrupt LandAmerica Financial Group’s title underwriters by Fidelity National Financial, Inc. [stock FNF][/stock], with Fitch Ratings downgrading its issuer default ratings on Fidelity National, as well as docking the insurer financial strength of the conglomerate’s title insurance subsidiaries.