Genworth Canada Outlook Lowered to Stable by Standard & Poor’s

Genworth Financial Inc. (GNW), the insurer seeking a new chief executive officer, had the outlook of its Canadian mortgage-insurance subsidiary lowered by Standard & Poor’s as the nation’s economic growth slows.

“Macroeconomic factors may begin to weigh on housing prices,” the ratings firm said today in a statement on the Canadian business of the Richmond, Virginia-based insurer, dropping the outlook to stable from positive.

To contact the reporter on this story: Dan Kraut in New York at Dkraut2@bloomberg.net

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

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