Moody’s moves MGIC outlook to positive

Moody’s Ratings said it revised the outlook to positive from stable for MGIC Investment Corp. and affirmed its Baa3 senior unsecured rating.

“The positive outlook reflects upward pressure on the group’s credit profile due to sustained

profitability as high persistency and higher investment income help offset the potential for higher

defaults in the months ahead,” Moody’s said in a press release.

Moody’s noted the U.S. mortgage insurance sector has benefited from a robust housing market and low unemployment rates, which have helped default rates trend lower over the past few years.

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