Fitch ups Fidelity National IFS

Fitch Ratings said it upgraded Fidelity National Financial, Inc.'s title insurance operating companies' insurer financial strength ratings to A- from BBB+ and affirmed its issuer default rating at BBB- and senior unsecured debt at BB+.

The outlook is stable.

Fitch said the upgrade is based on market-leading scale, margins, and operating company capitalization. Offsetting these positives though has been a history of periodic consolidated balance sheet financial leverage increases to fund acquisitions of ancillary businesses. While the agency noted that past ventures have been successful, historical results do not mitigate future risks.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.