MGIC Wins Exit From Junk Status at S&P on Housing Market Rebound

MGIC Investment Corp., one of the U.S. mortgage insurers that survived the financial crisis, was upgraded to investment-grade status by Standard & Poor’s on a recovery in the residential real estate market.

The credit rating was lifted two levels to BBB, as MGIC and its subsidiaries are benefiting “from improvements in the overall North American housing sector and macro economy,” the ratings firm said Tuesday in a statement on the Milwaukee-based insurer.

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