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Old Republic Outlook Cut By S&P on Mortgage-Insurance Unit

Old Republic International Corp. (ORI) had its outlook lowered by Standard & Poor’s on the prospect that its mortgage-insurance unit could be put into receivership by state regulators.

Old Republic was cut to “negative” from “stable.” The firm may incur “reputational damage that could impair its ability to access the capital markets at a reasonable cost” if regulators in North Carolina take action against the unit, the ratings firm said today in a statement on Chicago-based Old Republic.

To contact the reporter on this story: Andrea Ludtke in New York at aludtke@bloomberg.net

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

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