Bloomberg News

Old Republic Lifted to Investment Grade by Fitch on Mortgages

September 26, 2013

Old Republic International Corp. (ORI:US), the seller of business insurance and mortgage guarantees, was lifted to investment grade by Fitch Ratings on reduced risk tied to home loans.

The insurer was upgraded to BBB- from BB+ as the wind-down of the mortgage insurance unit “reduces the likelihood that its financial difficulties would trigger debt covenants that result in debt acceleration,” the ratings firm said today in a statement on Chicago-based Old Republic.

To contact the reporter on this story: Zachary Tracer in New York at ztracer1@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net


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Companies Mentioned

  • ORI
    (Old Republic International Corp)
    • $14.68 USD
    • -0.22
    • -1.5%
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