Old Republic Credit Rating Raised Two Levels to BB+ By Fitch

Old Republic International Corp. (ORI), the insurer that reached an agreement with a North Carolina regulator related to its mortgage guarantee business, had its credit rating lifted two levels to BB+ by Fitch Ratings.

The deal with North Carolina regulators “will likely allow ORI to avoid a covenant breach and related debt acceleration,” since a mortgage insurance unit is more likely to avoid bankruptcy or insolvency, Fitch said today in a statement about the Chicago-based insurer.

To contact the reporter on this story: Noah Buhayar in New York at nbuhayar@bloomberg.net

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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.