S&P revises Sagen MI view to stable

S&P said it revised on Sagen MI Canada Inc.’s outlook to stable from negative and affirmed Sagen’s BBB+ issuer and senior debt ratings.

“The outlook revision reflects our view that the downside risks due to the economic fallout that we anticipated in March 2020 have substantially abated. We expect the company's earnings in 2021 will remain strained, as mortgage delinquencies are anticipated to rise as the borrower mortgage payment deferral ended. Nevertheless, we believe the risk of rising delinquencies will be manageable and can be contained within the company's earnings, without weakening Sagen's robust capitalization,” S&P said in a press release.

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