Genworth Avoids Downgrade at Moody’s by Isolating Mortgage UnitZachary Tracer
Genworth Financial Inc. had its credit rating confirmed at Baa3 by Moody’s Investors Service after announcing plans to distance the mortgage-guaranty unit from the rest of the company.
Moody’s, which had been considering whether to downgrade Genworth to junk status since June, said in a statement that today’s action concludes the review of Richmond, Virginia-based Genworth.
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