Fitch ups Fidelity National

Fitch Ratings said it upgraded Fidelity National Financial, Inc.'s issuer default rating to BB- from B+, along with its senior debt ratings to B+ from B.

The outlook was revised to stable from negative.

The upgrade reflects an overall improvement in the debt-to-tangible capital measure, which was 31.4% at the end of the first quarter 2010, Fitch said.

The outlook revision reflects the company's operating advantage relative to peers in light of continued challenges faced by the title insurance industry, Fitch said.

The stable outlook also considers the company's successful integration of the former LandAmerica Financial Group underwriters during an extraordinarily difficult operating environment, the agency said.

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