Printer Friendly

PMI MORTGAGE INSURANCE IS RATED TRIPLE-A BY FITCH INVESTORS SERVICE; FIRST IN INDUSTRY RATED TRIPLE-A BY S&P, MOODY'S & FITCH

 PMI MORTGAGE INSURANCE IS RATED TRIPLE-A BY FITCH INVESTORS


SERVICE; FIRST IN INDUSTRY RATED TRIPLE-A BY S&P, MOODY'S & FITCH
 SAN FRANCISCO, July 20 /PRNewswire/ -- PMI Mortgage Insurance Co. announced today that it received a "AAA" rating on its claims-paying ability from Fitch Investors Service Inc. PMI, rated triple-A by both Standard & Poor's and Moody's Investors Service, said the Fitch rating represents a milestone for both companies. For PMI, the new rating establishes it as the first private mortgage insurance company to have its claims-paying ability rated triple-A by Standard & Poor's, Moody's and Fitch. For Fitch, the rating is the agency's first of a mortgage insurer and marks the beginning of its ongoing analysis of the private mortgage insurance industry.
 "The addition of the Fitch rating allows us to give our clients more choices in rating their securities and structured transactions," said Jim Wagner, vice president of PMI's Capital Markets Group. "It also boosts market confidence in our financial strength and capabilities, and reinforces our position as one of the top players in the mortgage insurance industry." The PMI Capital Markets Group was established in 1989 to develop pool insurance products and services to meet the varying needs of lenders and investors in the secondary mortgage market.
 PMI Mortgage Insurance Co. is a San Francisco-based private insurer of residential mortgages. Established in 1972, PMI is a subsidiary of Allstate Insurance Co., licensed to do business in all 50 states and the District of Columbia. It is the third largest private mortgage insurer in the United States with $38.5 billion of mortgage insurance in-force as of year-end 1991.
 -0- 7/20/92
 /CONTACT: Donya Fahmy, 415-291-6389; or Jim Wagner, 415-291-6353, both of PMI Mortgage/ CO: PMI Mortgage Insurance Co.; Allstate Insurance Co. ST: California IN: FIN SU:


MC -- SF001 -- 0579 07/20/92 09:02 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 20, 1992
Words:306
Previous Article:VALUE DRIVES CONSUMERS TO AT&T UNIVERSAL CARD
Next Article:SANDOZ ANNOUNCES JUNE SALES RESULTS
Topics:


Related Articles
PMI MORTGAGE INSURANCE CLAIMS-PAYING ABILITY RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
PMI MORTGAGE 'AAA' RATING AFFIRMED BY FITCH AFTER HURRICANE ANDREW -- FITCH FINANCIAL WIRE --
PMI-INSURED "SUPER-SENIOR" MORTGAGE DEBT AFFIRMED, OFF FITCHALERT -- FITCH FINANCIAL WIRE --
CMG MORTGAGE CLAIMS PAY ABILITY RATED 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --
CMG MORTGAGE INSURANCE COMPANY RATED 'AA-' BY FITCH
Fitch Assigns AA Rating to PMI Europe.
XL Capital Assurance Receives Aaa Financial Strength Rating From Moody's Investors Service.
XL Financial Assurance Receives Aaa Financial Strength Rating From Moody's Investors Service.
The PMI Group, Inc. Comments on Fitch Revisions to U.S. Mortgage Insurance Capital Model and Ratings Actions.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters